The first of a series of reports by World Travel & Tourism Council (WTTC) and Microsoft says AI is poised to redefine travel and tourism standards and calls on the sector for greater integration of such technologies.
Julia Simpson, WTTC president and CEO, says AI is emerging as a catalyst for positive change.
‘The transformative capabilities highlighted in this report demonstrate that AI is not just a technological advancement, it is a strategic tool that can personalise the customer experience, drive sustainable improvements, and create real time pricing models.’
According to the report, challenges that must be overcome by travel and tourism businesses include a shortage of AI-skilled workers, limited AI infrastructure, and the absence of a formal ‘AI strategy’ in many business plans.
This technology can empower personalised recommendations and marketing strategies by analysing traveller data, optimising pricing strategies through real-time adjustments, and offering instant responses and fine-tuned interactions via sophisticated AI powered chatbots.
The report says AI’s capabilities extend to predicting future demand patterns, efficiently allocating resources, and providing valuable insights for governments and stakeholders.