Are you still deciding by yourself on your travel needs or is the AI virtual assistant already doing it for you? To find out the answer the Travel Massive Chapter from Cologne / Düsseldorf was organizing a meetup hosted by Trivago. Both companies being very up-to-date with the newest technologies and the future of tourism. Travel Massive is the world's largest community of travel and tourism professionals chapter in your city. Trivago is "one of the newer hotel booking portals to make a splash on many travelers' radars" (Forbes).
Tourism is based on mobility and primarily business-to-consumer (B2C) industry, with a target group of individual consumers even if B2B is developing in a positive direction for the last years:
How does tech enable people to sell travel products online? The supply and demand sides of the industry usually meet through internet networks, which requires co-operation and trust. This is the value Travel Massives is building the real network effects.
How does the competitiveness between the traditional (e.g. airlines, hotels, agencies etc.) and tech tourism companies look like?
Maybe not long time ago, the typical decision-making process was the travel agency choosing from mail-ordered catalogs. If the consumer couldn’t find the right option, they would go to another travel agency and compare the different options and prices. Now, this process is faster, shorter, but better? With the use of smart bots, the whole process of ordering, paying, reviewing and traveling can be completed within minutes. And this is what a meta-search engine like Trivago is doing.
How much value does the collaboration and AI brings to the buyer/consumer/user?
We see AI being particularly relevant for:
- Content like intelligent recommendations
- CRM for loyalty points and AI sales
- Customer service like bots for assistance in finding products or content, digital/social service
- Sentiment analysis like social listening, AMAs
- Content generation for email or video content
- Smart Ads
The ICT revolution brings big changes in the tourism industry as well. AI-operated chatbots and other smart solutions used by different service providers enable the development of personalized offers. The efficiency of interactive communication is of key importance for innovative companies in order to increase their sales. The big question about today’s technological boom is whether the process will continue in the long run. We can always find answers to those trends at such trade shows like ITB, WTM or for the B2B at IBTM or IMEX.
This event´s topic was about the automation as the next stage of the collaborative economy and how will this impact the tourism economy. Feel free to contribute with your experience by posting an article through teh link below:
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