Research UpdateAnalyst: Phocuswright Research
The concepts of personalization, big data analysis and dynamic pricing/offers have been discussed and debated in the press for a number of years, though limited evidence exists of any wide-level adoption in the travel industry today. The field of AI has been around for decades, but over the past few years, advancements in big data analytics, machine and deep learning, natural language processing and predictive analytics have ushered in a new era of AI-impacted applications. At the heart of these efforts is to better understand and anticipate the needs of the traveler. The question still remains on whether the desire for greater personalization will actually meet the needs of the traveler, particularly based on their specific context and persona.