Artificial Intelligence and Its Impact on the Global Travel Industry

Transcription

1 Artificial Intelligence and Its Impact on the Global Travel Industry Demystifying Emerging Technologies for the Global Travel Industry March 10, 2017

2 The Accelerating Pace of Technological Change Technological Change IoT ConversaHonal Commerce Social AR & VR Transparency Always-connected traveler AI Technology is geang more mobile and smarter Source: Travel Tech Consulting, Inc

3 The Gartner Technology Hype Cycle 3

4 Hollywood Has Portrayed AI as Cool and Scary! 4

5 And Maybe we Should be Scared The development of full artificial intelligence could spell the end of the human race I am in the camp that is concerned about super intelligence

6 General AI verses Narrow AI Most of today s AI is designed to solve specific problems IBM Watson wins Jeopardy! Google s DeepMind AlphaGo Beats Lee Se-do Self-Driving Automobiles Artificial intelligence can solve many problems, but it won t replicate the human brain anytime soon 6

7 Why AI Now? The amount of data that is being generated daily has increased by several orders of magnitude within the last 2 years The rise of cloud computing has made data storage and processing available to the masses Open source technologies have enabled developers to build and use AI techniques such as machine learning, and Natural Language Processing Source: Vision Mobile 7

8 Structured versus Unstructured Data For decades information retrieval was dependent on structured data Unstructured data is growing exponentially AI can help normalize unstructured data 8

9 The Imapct of Mobile The astronomical growth of mobile is driving the need for more relevant and timely communication AI plays an important role in delivering personalized content Proactive Relevant Timely Location sensitive Addresses immediate need

10 Neural Networks - inspired by the biological behavior of neurons Types of AI ArHficial Intelligence NLP=Understand Voice and Text Machine Learning = learn without explicit programming Knowledge Graphs making the seman&c Web a reality Deep Learning = Exper&se on specific subject Chatbots= human like automated messaging Smart Data= Ac&onable Intelligence

11 Neural Networks Neural Networks - computer programs assembled from hundreds, thousands, or millions of artificial brain cells that learn and behave similar way to human brains inspired by the biological behavior of neurons, but not capable of true brain functions Given new life when combined with deep learning techniques 11

12 Machine Learning Machine learning represents a major step in the evolution of computer science Rather than relying on humans alone to program computers, machine learning allows the application to program itself Works best with large volumes of data Wisdom is gleaned from the individual and the crowd The more the app is used the smarter it gets! 12

13 How Machine Learning Works Examples Model -Discovers patterns in data, and constructs mathematical models using these discoveries Input Model Parameters Source: Google Prediction Learner Truth Parameters: Learning algorithms develop sets of parameters that train the software to make decisions Learner: Adjusts the parameters and in turn the model by looking at differences in predictions versus actual outcome

14 Deep Learning Deep learning uses a more narrowly focused subset of machine learning tools and techniques, and applies them to solve a specific problem which requires thought human or artificial Currently at the Peak of Inflated Expectations on the Gartner Hype Cycle but Gartner predicts in 2017, deep learning will move from the edge technology to a key component of analytics 14

15 Natural Language Processing NLP is the ability of systems to process sentences in a natural language such as English Requires the taxonomy (hierarchy) and ontology (meaning of terminology specific to a fields such as travel) The key is move from NLP to NLU Natural Language Understanding 15

16 Knowledge Graphs Knowledge Graph - Collects, structures and semantically enriches information Creates taxonomy (hierarchy) and ontology (meaning of terminology specific to a field such as travel) 16

17 Chatbots Text-based services that let users complete a particular task Often a mixture of AI and human intervention Effective for simple tasks, but complexity is challenging Despite the challenges travel bots are exploding in the market for all segments Some bots may play a subordinate role to master bots 100 s of travel chatbots will be deployed over the next few years Source: Apptopia blog

18 Smart Data With volumes of structured and unstructured data, AI finds meaning and value to data, turning Big Data into Smart Data Delivering actionable intelligence is critical to meet the alwaysconnected user s expectations and to deliver contextually relevant content

19 AI and IoT Identification Communication Sensors Localization and Tracking The Internet of Things Actuators Processing Devices Storage

20 AI and Human A Hybrid Approach Most effective use of AI today is to assist human activities AI enables greater knowledge about the product and customer to delivery higher quality services 20

21 Technology-Driven Change Enabling Technologies Web Social Mobile Big Data AI Change in Business Practices The Sharing Economy Wisdom of the Crowd In-Destination Services Personalized Travel Services Intelligent Travel Services Technology drives changes in business prachces Source: Phocuswright Inc

22 Personalisation Enabling Technologies Big data Behavior monitoring XML standards/ NDC Smartphone preferences and beacons Massive data analysis delivers unique insight Tracking online and mobile behavior Communication standards for enhanced content Stored preferences interacting with location-specific messaging Changes in Business Practices Travelers expect tailored responses Communication must match traveler context Targeted upsell and cross-sell opportunities Location-based targeted offers A balance between personal insight and privacy is essenhal Source: Phocuswright Inc

23 AI and Digital Intelligence Enabling Technologies How it works Changes in Business Practices Natural-language understanding Cognitive computing Voice-to-machine interfaces Advanced AI that analyzes multiple sources of information Automated assistants Intelligent recommendations Machine learning Software that improves accuracy with continued use Automated re-accommodations Managing unstructured data Understanding the relevance of data without structure, and combining it with traditional data Bubbling up relevance from a variety of sources Source: Phocuswright Inc Digital intelligence is transforming the travel process

24 Impact of AI on Travel Industry AI as an interface Chatbots Voice Interfaces IoT Delivering Customer Insight Neural Network Machine Learning Deep Learning Knowledge Graphs Smart Data 24

25 The Internet of Things Location Cloud-Based Preferences Uncovered Through Big Data Analytics Social Media Destination Content Natural Language Processing Elements of an ITA IA bots IA bots IA bots Recommendation Engine Mobile Locally Stored Preferences Booking Engine Learning algorithm Trained machine Mobile Wallet Travel-Specific Taxonomy & Ontology Trai Training ning data Data Machine Learning Answer Electronic Itinerary Travel Supply ITAs would present a new filter for all travel transactions Source: Travel Tech Consulting, Inc