AI and automation to increase hotel revenues by 10%
Technology and innovation to headline Arabian Travel Market 2019
Cutting edge technology and innovation will be the official show theme for Arabian Travel Market (ATM) 2019, taking place at Dubai World Trade Centre from April 28 to May 1, 2019.
According to the latest research conducted by Colliers International, personalisation Artificial Intelligence (AI) could increase hotel revenues by over 10% and reduce costs by more than 15% – with hotel operators expecting technology such as voice and facial recognition, virtual reality and biometrics to be mainstream by 2025.
Further to this, the research estimates 73% of manual activities in the hospitality industry have the technical potential for automation, with many global hotel operators including Marriott, Hilton, and Accor already investing in automating elements of their human resources.
Danielle Curtis, exhibition director Middle East, Arabian Travel Market, said: “It is important to highlight that the GCC is one of the fastest growing regional hospitality markets on a global scale and an innovative technology-reliant industry. Its impact on hotels and travel and tourism is multi-dimensional, ranging from voice and facial recognition, chatbots and beacon technology to virtual reality, blockchain and robot concierge.
“Throughout ATM 2019, the spotlight theme will be launched as a platform to create awareness and inspire the travel and hospitality industry about the next generation of technology, while bringing together senior travel executives to meet and conduct business with innovative tech providers.”
While automation is forecast to replace a large number of jobs, between 39 and 73 million in the US alone, according to a study by McKinsey Global Institute, the report also states that innovative technology will not be a purely negative disrupter. New jobs will be created; existing roles will be redefined; and workers will have the opportunity to further their career with additional training. The challenge, therefore will be preparing for and managing the transition between now and 2030.
Curtis said: “With technologies like AI and automation quickly maturing, the hospitality and travel and tourism industry must prepare for a wave of disruption in order to reap the overall benefits of these technologies.
“Equipping workers with the necessary skills and training and creating new tech-augmented jobs that can assist with this innovative technology will be key to making this transition a success.”
“Hospitality is in the business of selling experiences. With more and more AI innovations available for guests to express both satisfaction and grievance, the influence of such technology and the usage of social listening tools are expected to become standard as we move closer to 2030.
“While a robot may not have a smile, it can recognise faces, remember names and most importantly remember guest preferences, characteristics and behaviours.”
ATM 2019 will build on this year’s edition with a host of seminar sessions discussing the ongoing unprecedented digital disruption, and the emergence of innovative technologies that will fundamentally alter the way in which the hospitality industry operates in the region.
Arabian Travel Market 2019 will take place in Dubai from Sunday, April 28 to Wednesday, May 1, 2019.