Technological Advancement within the Travel and Tourism Industry
In the recent times, there have been major forms of advancements within the field of technology. Different sectors across various industries have made the most usage of several forms of technologies. Big Data and Artificial Intelligence (AI) have also paved their way in the recent forms of advancements within each sector. These technologies have also made their way in the travel industry. The use of Big Data brings an endless pool of opportunities within the industry. The use of big data within the industry has been mainly used within this sector for collecting vast sets of information from the customer and thus provide them with several kinds of facilities related to their needs (Vinod, 2013).
The use of artificial intelligence within the travel industry is also making the sector to be entirely reliable and the most attractive sector within the business solution. AI within the travel industry is also used for a variety of customer service and administrative tasks. AI within the travel industry would be helpful for suggesting different kinds of options before the customers and enabling them to book tickets and other enable other services with the high form of thinking capabilities within the computing devices. The capacity of AI is to perform such kind of tasks, which was previously performed by humans. With the help of AI enabled solutions, businesses would be able to perform high kinds of tasks that were performed within the travel industry that would range from problem-solving, data analysis, speech translation, improving personalization and direct messaging throughout the journey of the customer (Loebbecke & Picot, 2015).
Technology has penetrated in the various sectors of the travel industry. It is also revolutionizing the way in which people used to perform their travel activities. Technology has allowed the travel industry to perform their various operations in a useful manner. This industry has been a boon for those people who are much more indulged in gaining the benefits from the technological aspects. The phenomenal growth within the industry has hence impacted the industry of tourism in a positive manner. The technological advancements have made the ease of several kinds of operations within the industry such as bookings, planning and even sharing of information of their travel (Xiang, Magnini & Fesenmaier, 2015).
In the recent times consumers are extremely tech-savvy, which makes them use the various kinds of technologies at a tip of their fingers. With the rise of internet facility and smartphone-based systems, it has become extremely easy to reach out to the entire world. People are now able to plan their entire journey by sitting at their homes. They can also book their tickets and can book hotels, which would be suitable for them from a wide number of provided options. The social media platforms and tools also help them in gaining the experiences of travel within the sector (Law, Buhalis & Cobanoglu, 2014).
Advancement of Technology over Time
With the impact of technology and high form of advancements within the field of technology, there have been major forms of transitions. The revolution of internet technology has been much more powerful and has transformed the technological changes within every industry. Smartphones have become a constant companion for people and they have also made the utmost use of the technology with the help of their smartphones. With various kinds of travel destinations and places to explore, there would have been a major form of confusion among the people for choosing their travel destinations (Becerra-Fernandez & Sabherwal, 2014).
The rise of technological advancements within the travel industry has made the ease of searching for destinations and thus book their favorite hotels from a wide range of available opportunities. There could be a list of comparison based on which the customers would be able to choose the best suitable options. Each of the processes within the entire journey has become computerized and the journey of the customers have thus become hassle-free and much efficient.
Big Data is defined as a continually evolving technological term, which mainly describes any form of semi-structured, structured and unstructured form of data, which has the major form of potential for mining through vast amounts of data in order to gather a huge stack of information. It could be also defined as a term that normally refers to the study of the applications within the larger sets of data, which could not be processed with the traditional forms of data processing software. This technology makes use of predictive based analysis, which is mainly based on the analytics based on user behavior. They also make use of certain other forms of advanced form of methods based on data analytics (John Walker, 2014).
Artificial Intelligence (AI) is also defined as machine intelligence that would mainly make use of computerized machines. In the field of computer sciences, AI could be defined as the broader study of intelligent agents who would be able to perform such kinds of tasks that would need instant decisions and would perform actions in a diligent manner. The AI-based technology is able to absorb any form of modifications with the help of gathering independent pieces of information in a presentable format (Russell & Norvig, 2016).
The wide form of technology adoption within the travel industry has helped in the transformation of the travel industry. With the help of big data analysis and AI-based technologies, it has been extremely useful for the travel businesses for providing various kinds of functionalities within the sector. With the help of the data collected, various agencies are able to provide different kinds of recommendation engines and also provide personalized offers. With the application of artificial intelligence within tourism, the travel industry has been able to provide an instant form of messaging services and several other capabilities based within the context of tourism (Gretzel et al., 2015). In addition to these kinds of services, the artificial intelligence also makes use of data that is collected from the Big Data technology in order to understand the choices of the customers. This would be very much helpful for proactively assisting the customers in making efficient forms of decisions in relation to their travel experiences. The artificial intelligence technology collects the data of the customer from a vast number of sources and thus creates a 360-degree view of the behavioral trends within the customer. This helps in driving higher form of conversion and thus improves the loyalty of the customer towards the particular business application (Russell, Dewey & Tegmark, 2015).
Big Data and Artificial Intelligence
There are several forms of applications based on big data and artificial intelligence within the travel industry:
Recommendation Engines – Big data technology collects various kinds of information that are in relation to the data of the customers. High forms of algorithms are used for the collection of a vast form of data based on the customers. This data is used by various companies and travel industries for providing efficiency within the business operations. The mobile application also supports various kinds of recommendation engines, which make use of the stored and collected data from the customers (Ricci, Rokach & Shapira, 2015).
Hotel Prices and Flight Fare Forecasting – The prices of hotels and flights are ever increasing as this mainly depends on the decision of the service provider. Hence the tracking of the individual prices in a manual process becomes a hectic process. Hence smart AI-based tools would be extremely helpful for monitoring and thus send timely alerts to the customers based on the current trends within the industry.
Intelligent Travel Assistants – The travel agency is one of the many areas that are being automated with the help of highly powerful algorithms. Intelligent forms of programs that are referred to as chatbots help in the ease of various kinds of operations within the travel industry. These bots are able to provide 24/7 services and assist in making wise decisions (Williams, Peters & Breazeal, 2013).
The implications of big data and artificial intelligence within the sector of tourism would include the positive and negative forms of implications within the sector (Fuchs, Höpken & Lexhagen, 2014).
The positive forms of implications would include several forms of improved forms of experiences based on the experiences of the customers. The customers would be able to compare different kinds of prices based on several choices of hotels. The use of these kinds of technologies also helps in providing travel assistants who would be helpful in supporting the decisions of the customers (Xiang et al., 2015).
The negative forms of implications of the impact of AI and big data within the travel industry are the potential of automation systems for giving rise to loss of jobs within the sector. There would also be a major challenge for the security of the computing devices within the sector as they would get prone to attacks (Loebbecke & Picot, 2015).
Conclusion
Based on the above discussion, it could be concluded that there are numerous forms of technological advancements in the field of big data and artificial intelligence within the travel and tourism industry. The report focuses on the various ways in which the travel industry is getting transformed. With the invention of the latest kinds of technical devices, there have also been huge advancements in the algorithms, which are able to define the automation systems within each of the processes within the system. The recent forms of travel based applications put their major focus on the ease of customer experience so that they would be able to use the application according to their needs. The use of AI within the sector would be helpful in solving the various kinds of challenges within the implications within the travel industry. Hence, enriching the technologies would be a major enhancement for the growth of the profits within the sector and thus provide a soothing experience for the customers.
References
Becerra-Fernandez, I., & Sabherwal, R. (2014). Knowledge management: Systems and processes. Routledge.
Fuchs, M., Höpken, W., & Lexhagen, M. (2014). Big data analytics for knowledge generation in tourism destinations–A case from Sweden. Journal of Destination Marketing & Management, 3(4), 198-209.
Gretzel, U., Sigala, M., Xiang, Z., & Koo, C. (2015). Smart tourism: foundations and developments. Electronic Markets, 25(3), 179-188.
John Walker, S. (2014). Big data: A revolution that will transform how we live, work, and think.
Law, R., Buhalis, D., & Cobanoglu, C. (2014). Progress on information and communication technologies in hospitality and tourism. International Journal of Contemporary Hospitality Management, 26(5), 727-750.
Loebbecke, C., & Picot, A. (2015). Reflections on societal and business model transformation arising from digitization and big data analytics: A research agenda. The Journal of Strategic Information Systems, 24(3), 149-157.
Loebbecke, C., & Picot, A. (2015). Reflections on societal and business model transformation arising from digitization and big data analytics: A research agenda. The Journal of Strategic Information Systems, 24(3), 149-157.
Ricci, F., Rokach, L., & Shapira, B. (2015). Recommender systems: introduction and challenges. In Recommender systems handbook (pp. 1-34). Springer, Boston, MA.
Russell, S. J., & Norvig, P. (2016). Artificial intelligence: a modern approach. Malaysia; Pearson Education Limited,.
Russell, S., Dewey, D., & Tegmark, M. (2015). Research priorities for robust and beneficial artificial intelligence. Ai Magazine, 36(4), 105-114.
Vinod, B. (2013). Leveraging BIG DATA for competitive advantage in travel. Journal of revenue and pricing management, 12(1), 96-100.
Williams, K. J., Peters, J. C., & Breazeal, C. L. (2013, June). Towards leveraging the driver’s mobile device for an intelligent, sociable in-car robotic assistant. In Intelligent Vehicles Symposium (IV), 2013 IEEE (pp. 369-376). IEEE.
Xiang, Z., Magnini, V. P., & Fesenmaier, D. R. (2015). Information technology and consumer behavior in travel and tourism: Insights from travel planning using the internet. Journal of Retailing and Consumer Services, 22, 244-249.
Xiang, Z., Schwartz, Z., Gerdes Jr, J. H., & Uysal, M. (2015). What can big data and text analytics tell us about hotel guest experience and satisfaction?. International Journal of Hospitality Management, 44, 120-130.
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