01 Mar 2022
Why Artificial Intelligence and Machine Learning by John Turner CEO Visit Somerset
We operate in the Visitor economy - all businesses should act now to adopt AI. Why? Bloomberg states - By 2025 50% of travellers will be Millennials, spending $200 billion on travel in 2018, 13% Millennials took 5.6 trips per year, compared with 4.4 (Gen-Z), 4.0 (Gen x) and 3.5 (Boomers). Bloomberg (2016)
Why should this back up my claim that the Visitor Economy should, act now to adopt AI. The fact that the Millennial market is a key adopter of technology;
InternetMarketingInc & Siteminder state -
This indicates a market that is incredibly tech savvy, and fully immersed in AI and ML technology, from programmatic marketing to personalisation, this market is already locked into the new digital arena.
There is a second fundamental point supporting the optimisation of communication and ease of booking in this service led industry:
REQ. Marketing state; when it comes to researching, planning, booking, and recording a millennials trip, the smartphone is the key component. In a generation that grew up with mobile phones, two in three book their travel on their phone, almost three in four use it to research and have specific travel apps installed.
Technology changes the way we check-in/out of hotels, flights as well as navigating around a foreign location, booking restaurants/experiences in our itinerary - reshaping travel/shopping habits abroad for younger generations. REQ.Marketing (2016)
Having the right AI and ML support will increase productivity, increase customer satisfaction and reduce waiting times giving an overall better customer experience for less.