Technology - machine learning
We continue with Technology in 2020, as it will turn our worlds upside down this year for sure. In this latest piece published on HospitalityNet some important points on machine learning are raised, starting with a statement on AI. If you are not using AI now, chances are you will soon have to consider implementing some AI technologies, as most of your competition is already ahead of you. Most of the companies pose a major question in this new year for themselves - ‘how will we utilise machine learning this year?’. How can you answer this question for hospitality sector?
’Playing catch-up with this technology can be competitively dangerous as there is significant time between outward-facing results (when you realize your competition is outperforming you) and how long it will take you to achieve similar results and employ a productive, successful strategy. Certainly, revenue management and pricing will be optimized by ML, but operations, guest service, maintenance, loyalty, development, energy usage, and almost every single aspect of the hospitality enterprise will be impacted as well. Any facility where the speed and precision of tactical decision making can be improved will be positively impacted.’
Furthermore the article shows examples from our industry and analyses them. They bring us closer to the Energy Program run by Hilton, IGH Europe and their Human Resources transformations, Accor Hotel upgrades, and Dorchester Collection’s innovative analysis of guest reviews.