Significant Gap in AI Adoption Among Travel Brands, New Study Reveals
In a recent global report from London Research in collaboration with Relay42, a Supermetrics company, significant trends regarding the adoption of artificial intelligence (AI) within the travel sector were unveiled. The study surveyed 200 senior marketers from various travel sectors including airlines, hotels, and tour operators, illustrating a pronounced division between forward-thinking brands and those lagging in technological integration.
The report titled Data and AI - The Twin Forces Shaping the Future of Travel Marketing delineates how crucial data management is in enhancing marketing potential through AI utilization. Brands that successfully integrate and activate customer data are reaping substantial advantages in customizing services, orchestrating campaigns, and making informed decisions. However, to sustain this competitive edge, these pioneering companies must continue to elevate their AI maturity.
According to the findings, travel brands proficient in data management exhibit a remarkable advantage compared to their counterparts. For instance, these leaders are nearly three times more likely to enhance customer profiles using predictive insights (39% versus 14%), and they’re twice as likely to employ machine learning to predict customer behaviors and values (36% as opposed to 17%). Moreover, they can deliver timely and personalized responses at a rate of 43% compared to just 15% for others.
Despite these favorable numbers, the study signals a concerning trend regarding AI adoption across the industry. A mere 21% of travel companies have fully embraced predictive decision-making and modeling powered by AI. Furthermore, one-third of data management leaders view AI as indispensable for future marketing success, contrasting sharply with only 12% of mainstream companies who share this sentiment.
The report identifies several key hurdles impeding the full-scale adoption of AI. These include technical limitations in integrating with legacy systems, a lack of in-house expertise for managing AI technologies, and issues with fragmented or poor-quality customer data. Without a solid infrastructure and skilled staff, leveraging AI to its fullest potential remains a challenge.
"The fact that only one in five travel marketers has fully integrated AI indicates both a pressing challenge and an extraordinary opportunity," stated Christiaan van der Waal, General Manager of Data Activation at Supermetrics and CEO of Relay42. "Marketers who delay in this transition risk becoming obsolete as competitors shift from traditional promotional campaigns to dynamic, data-led customer interactions facilitated by smart decision-making. Leading businesses in today’s market are not merely treating AI as an additional tool; they are positioning it as a pivotal strategy that promises to revolutionize travel marketing in the future."
The findings suggest that AI's potential transcends marketing benefits. The report emphasizes that the integration of AI can significantly improve operational efficiency, price optimization, risk management, and customer service across various business facets.
"AI extends beyond being a mere marketing facilitator—it's a powerful growth driver for the entire organization," highlighted Linus Gregoriadis, Director and Co-founder of London Research. He noted that while data management leaders are setting the trend with machine learning applications for analytics and decision-making, the industry is still at the dawn of its AI evolution, especially regarding generative and causal applications.
In summation, this substantial report indicates that while there are notable leaders in utilizing AI within the travel industry, the overall adoption rate remains disappointingly low. Travel companies are urged to bridge the AI gap by investing in better data management systems, expanding expertise in AI technologies, and refining customer data quality to drive personalization and innovation. Companies that act swiftly and decisively in this arena are poised to dominate the future of travel marketing.
The Rising Importance of Data
The report titled Data and AI - The Twin Forces Shaping the Future of Travel Marketing delineates how crucial data management is in enhancing marketing potential through AI utilization. Brands that successfully integrate and activate customer data are reaping substantial advantages in customizing services, orchestrating campaigns, and making informed decisions. However, to sustain this competitive edge, these pioneering companies must continue to elevate their AI maturity.
Data-Driven Advantages
According to the findings, travel brands proficient in data management exhibit a remarkable advantage compared to their counterparts. For instance, these leaders are nearly three times more likely to enhance customer profiles using predictive insights (39% versus 14%), and they’re twice as likely to employ machine learning to predict customer behaviors and values (36% as opposed to 17%). Moreover, they can deliver timely and personalized responses at a rate of 43% compared to just 15% for others.
The AI Adoption Gap
Despite these favorable numbers, the study signals a concerning trend regarding AI adoption across the industry. A mere 21% of travel companies have fully embraced predictive decision-making and modeling powered by AI. Furthermore, one-third of data management leaders view AI as indispensable for future marketing success, contrasting sharply with only 12% of mainstream companies who share this sentiment.
The report identifies several key hurdles impeding the full-scale adoption of AI. These include technical limitations in integrating with legacy systems, a lack of in-house expertise for managing AI technologies, and issues with fragmented or poor-quality customer data. Without a solid infrastructure and skilled staff, leveraging AI to its fullest potential remains a challenge.
"The fact that only one in five travel marketers has fully integrated AI indicates both a pressing challenge and an extraordinary opportunity," stated Christiaan van der Waal, General Manager of Data Activation at Supermetrics and CEO of Relay42. "Marketers who delay in this transition risk becoming obsolete as competitors shift from traditional promotional campaigns to dynamic, data-led customer interactions facilitated by smart decision-making. Leading businesses in today’s market are not merely treating AI as an additional tool; they are positioning it as a pivotal strategy that promises to revolutionize travel marketing in the future."
Beyond Marketing: AI’s Enterprise Potential
The findings suggest that AI's potential transcends marketing benefits. The report emphasizes that the integration of AI can significantly improve operational efficiency, price optimization, risk management, and customer service across various business facets.
"AI extends beyond being a mere marketing facilitator—it's a powerful growth driver for the entire organization," highlighted Linus Gregoriadis, Director and Co-founder of London Research. He noted that while data management leaders are setting the trend with machine learning applications for analytics and decision-making, the industry is still at the dawn of its AI evolution, especially regarding generative and causal applications.
Conclusion
In summation, this substantial report indicates that while there are notable leaders in utilizing AI within the travel industry, the overall adoption rate remains disappointingly low. Travel companies are urged to bridge the AI gap by investing in better data management systems, expanding expertise in AI technologies, and refining customer data quality to drive personalization and innovation. Companies that act swiftly and decisively in this arena are poised to dominate the future of travel marketing.
Topics Travel）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.