Hospitality rides the wave of AI
The hospitality industry is undergoing notable shifts. Global gross hotel bookings, one of the major and rapidly expanding sectors of the travel industry, increased from $450 billion in 2022 to $510 billion in 2023 and is projected to reach $560 billion in 2024. Amadeus has also released a report revealing that the global hotel occupancy rate was 10% higher in August 2023 compared to the same period in 2022. This positive scenario drives growth and investments, where artificial intelligence (AI) plays a special role. A software-based system, which learns, reasons, and makes decisions based on data inputs, has been a dream of humanity for centuries. Nowadays, its application ranges from intelligent virtual assistants to autonomous vehicles, offering vast potential to enhance productivity, optimize processes and drives innovation.
