Generative AI, a $28 billion opportunity in travel

During a Carrefour des Experts GBTA roundtable dedicated to the potential of productive artificial intelligence in Business Travel, several publishers presented the fields of application of this technology that represents a $28 billion market opportunity on a global travel scale. How can Business Travel players take advantage of this?

Genetic AI compared to “classical AI” makes it possible to create content – ​​services, video creation, translations or documents whatever – from data. “This is a business travel opportunity where a lot of data is at stake”estimates Jean-Christophe Carette, Director of Sales and Account Management Amadeus Cytric Saas, on stage at the Carrefour des Experts GBTA on February 27, 2024.

A technology that has already been developed – personalizing reservations, streamlining the traveler's journey thanks to facial recognition at the airport or even optimizing expense management – ​​during the various stages of the professional traveler's journey.

> Also read: Why TMCs decide to create their own program dedicated to artificial intelligence?

According to a Skift Research study, 60% of respondents are convinced of the impact of artificial intelligence in facilitating the processing of simple tasks ranging from reservations to baggage tracking and even handling cancellations. However, genetic AI still faces limits, including a possible degradation of the quality of existing services. “The issue of AI dominance may prove problematic, as is the case in the financial sector where users of automated trading solutions (HTFs) are losing control of the tool.”adds Jean-Christophe Carrette.

Sensitive topics, abstain?

Absent during the roundtable, Aurélien Rodriguez, HCorpo's Director of Sales, wanted to raise another issue that is specific to business travel players, at a time when most AI generation tools are powered by public data.

“This is not necessarily disruptive, but it can be disruptive depending on the level of sensitivity of your business data”showed through Julien Chambert, Founder of CBT Conseil and moderator of this round table dedicated to the possibilities of artificial intelligence before elucidating: “You have to challenge your vendors to know what they're using and how they can develop their technology so that that data stays in an environment that you control or that you share.”

> Read also: In business, investment in AI tools is exploding

The beginnings of a bull market

The market opportunity presented by artificial intelligence in business travel is undeniable. Joris Luongo, Navan's Enterprise Account Executive, citing the results of a Skift Research study, estimates the impact on travel at $28 billion, of which $8 billion is “of the order of very short-term profit” and was realized in particular by the adoption of chatbots and the emergence of new sources of advertising revenue in the industry.

“Artificial intelligence is capable of feeding better advertising content with suggestions that reach the right time at the right place to the traveler on a given trip and in compliance with travel policy”, describes. The entire business travel value chain benefits, starting with travel managers who, with the use of artificial intelligence, can better address ROI issues.

AI: multiple fields of application

“By qualitatively processing massive data, we are able to find solutions that allow us to make recommendations to reduce my iso-perimeter budget in terms of volumes by 10%, or to reduce my carbon footprint by 10% by changing traveller's habits.” illustrates. After all, the fields of application of genetic artificial intelligence are already many in industry and are set to multiply as this technology is exploited. A point on which the entire committee seems to agree, such as Stéphanie Zetlaoui, Senior Pre Sales Specialist Travel at SAP Concur.

> Read also: Business TravelTech: How France became a world champion

We are at the beginning of artificial intelligence. We can draw a parallel with the arrival of the Internet that has revolutionized the business world: artificial intelligence is changing the landscape of business travel and expense reporting. he stated before warning the public of the need to adopt a “Responsible and Ethical Use” artificial intelligence to guarantee safety. A mission for which people will always play a dominant role.

Leave a Reply

Your email address will not be published. Required fields are marked *