Case Study: Machine learning in the hotel industry - How can artificial intelligence, machine learning, and Big Data boost efficiency in the industry?
Hospitality was historically not one of the industries considered to be at the forefront of technological innovation. Yet, during the past decade the digital revolution that took place has completely transformed practices within the industry, prompting players to adopt innovative strategies to adapt to the constantly changing environment. The report discusses examples of how the industry is gradually embracing machine learning and artificial intelligence.
In the past, bookings and transactions were manually handled by the individual itself or by a travel agent. However, as more and more travelers are booking their holidays online, unparalleled quantities of data is being generated. As the technology to process all this data automatically is now available, hoteliers should turn to Big Data, AI, and machine learning to take advantage of such information.
AI and machine learning can be used in multiple ways in the hospitality industry such as in research engines, revenue optimization systems, demand forecasting, as well as in enhancing customer experience.
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