Generative AI and hotels and travel industry
Generative AI is a type of artificial intelligence that can create new and original content, like images, text, images or even video. It works by learning patterns and rules from existing data, and then using that knowledge to generate something new. By using artificial intelligence techniques, such as machine learning and deep learning, it learns from large amounts of data and generate outputs that are novel, realistic, and diverse. For example, it can create a realistic image of a beach from a text description or write a catchy slogan for a travel agency from a few keywords. The possibilities are endless, and generative AI has the potential to revolutionize many fields, including travel.
It's like having a computer that can produce its own ideas and create something totally unique all on its own! Some of the most popular generative AI tool today are based off ChatGPT for content generation and DALL-E2 for image creation.
Generative AI tools can be used for various purposes in the travel and hospitality industry such as creating personalised experiences, enhancing team productivity, supporting sales, augmenting HR practices, and helping website visitors find the most useful information immediately.
With the help of right business partners, tools based on Generative AI can help independent hotels can stand out from the crowd by showcasing their unique products, services and experiences. This will give them a competitive edge in the hospitality industry.
Some of the potential applications in the hotels and travel industry, include:
• Personalised travel recommendations and itineraries: There are many sites already working on developing this basis conversational interactions with users. Using the prompts of the users and understanding their needs, the AI tool can provide tailored suggestions for destinations, activities based on the travelers budgets, and interests.
• Content Creation: Enhancing the marketing content and help in creating ideas for catchy slogans, tag lines, descriptions, or stories that appeal to the target audience. Generative AI can create content basis the target audience and help with AI videos or images designed to attract interest.
• Creative design: Help travel businesses design for new products or services, such as logos, websites, or packages. For example, the AI tool today can generate a logo for a new travel brand based on its name, theme and target audiences.
• Data augmentation: Generative AI can help travel businesses augment their existing data with synthetic data, such as images, videos, or text. For example, photorealistic images of hotel rooms from text descriptions or sketches can help in designing rooms at development stage.
• Generative AI powered intelligent chatbots which can be integrated in websites and help travelers with recommendations and book hotels, flights activities online all of this based on natural and conversational interactions.
While the potential is huge on one side, on the other side, Generative AI also raises some challenges and concerns. Some of them include.
• Ethical concerns: Generative AI can create realistic but fake content that can deceive or manipulate customers or stakeholders. For example, a generative AI system can generate fake reviews or testimonials that can influence customer decisions or damage the reputation of competitors.
• Technical issues: The tool requires large amounts of data and computational resources to train and run effectively. As of today, these AI models can be unpredictable or unreliable in their outputs, especially when faced with ambiguous questions.
• Human Resources issues: Generative AI can reduce the need for human creativity or labor in many tasks, such as customer interaction, content creation etc. This can affect the employment and income of workers in the travel industry.
To conclude, we are in an exciting stage of advancement with generative AI technology promising to transform the travel industry in many ways. We need to be aware of all the benefits and concerns it poses so that these can be addressed carefully and responsibly by the businesses and policymakers - hear all about this in the riveting talk on 21st July 2023 at The HSMAI India Commercial Strategy Conference!
