WTTC Urges Travel & Tourism Businesses to Embrace AI

Photo source: WTTC

Major new reports from the World Travel & Tourism Council (WTTC) and Microsoft highlight the transformative power of AI (Artificial Intelligence) for Travel & Tourism, marking a commitment to a digital future with unparalleled customer experiences.

The first in a series of AI reports, announced during the global tourism body’s event at the FITUR 2024 expo and in collaboration with WTTC’s Industry Partner, Microsoft, is poised to redefine Travel & Tourism standards and call on the sector for greater integration of such technologies.

“As we navigate the ever-evolving landscape of Travel & Tourism, AI emerges as a catalyst for positive change,” WTTC President & CEO Julia Simpson said.

According to Simpson, the transformative capabilities highlighted in the report demonstrate that AI is not just a technological advancement.

“It is a strategic tool that can personalise the customer experience, drive sustainable improvements, and create real time pricing models,” she added.

Throughout the traveller’s journey, WTTC believes AI can play a pivotal role in delivering a tailored and enhanced experience now and in the future.

WTTC’s report says the technology can empower personalised recommendations and marketing strategies by analysing traveller data, optimising pricing strategies through real-time adjustments, and offering instant responses and fine-tuned interactions via sophisticated AI powered chatbots.

The report also highlights AI’s capabilities extend to predicting future demand patterns, efficiently allocating resources, and providing valuable insights for governments and Travel & Tourism stakeholders.

This contribution can be pivotal in promoting sustainability with efficient resource management by monitoring and minimising environmental impacts, ensuring a more responsible and sustainable sector, says thw WTTC.

Challenges that must be overcome by Travel & Tourism businesses include a shortage of AI-skilled workers, limited AI infrastructure, and the absence of a formal ‘AI strategy’ in many business plans.

Moreover, the report urges Travel & Tourism businesses to embrace AI as a “strategic priority”, investing heavily in talent to foster collaboration between humans and AI.

Amidst concerns about AI’s impact on jobs, the report addresses the potential for job creation, recognising that although “AI will be disruptive”, it will in turn generate “new opportunities”.