Applications of Artificial Intelligence and Machine Learning in the Travel Industry
7 Practical Applications of Artificial Intelligence and Machine Learning in the Travel Industry
Prediction System: Travel providers can help travelers find the best time to book a hotel or buy a cheap ticket by taking advantage of machine learning.
Chatbots: With proper prior programming, chatbots can enhance the entire travel experience, starting from automatic reminders before arrival to suggesting nearby entertainment venues and transportation facilities at the destination.
User Experience Management: Artificial intelligence can actively learn from each interaction on the website and, therefore, optimize the flow of users. The application of AI & ML to UX will help to understand how the customer experience should be designed.
Recommender System: The recommendation systems enabled by AI can be fed with historical data such as previous reservations, behavior or data in real time of the traveler. After processing and aligning with the traveler’s context, a recommendation system enabled by AI can provide a superior experience.
Sales Optimization: AI-driven software models can train sales managers at all stages of the sales funnel. The AI and ML software models can also help increase the cross sale of products through the application.
Cost Optimization: The dynamic pricing technology infused by AI can help identify purchase patterns so accurately that businesses can synchronize their pricing strategies in real time and present the right price at the right time.
Fraud Detection: Based on the data, the AI system can identify abnormal behaviors and create risk scores to build a complete understanding of each payment transaction, thereby, securing online transactions.