INDUSTRY UNLOCKED
How the travel and hospitality industry is already leading the way in Generative AI
The subject of Chat GPT and other AI platforms is discussed on a daily basis in the news . There are concerns surrounding the fast pace of the technology but there will always be benefits when companies choose to use it . The travel and hospitality industry is building on new ideas to improve their AI capabilities and how this will impact the way we book our travel . Tim Hentschel , Cofounder and CEO of leading digital booking platform , HotelPlanner , discusses how Generative AI is going to affect the hospitality industry .
In recent months , we ’ ve heard a wide range of predictions and warnings about how Generative AI is going to change the way we live , work and travel . On the extreme end , some have said this moment is like ‘ Sky Net ’ becoming self-aware in the movie Terminator 2 and that robots are going to kill us all . ( Let ’ s hope not ) While others have said that AI has been around for decades , and that tools such as ChatGPT are more akin to a next-generation calculator that still requires human inputs .
What we know for sure is that the AI race is now on , and the competitive landscape is a bit like the Wild West . Companies across all sectors are launching Generative AI tools into their products and services as fast as they can because there is incredible power in being one of the first to market . But as this race plays out over the next few years , there will be winners and losers , and a lot of lessons learned .
Let ’ s talk risk and reward
For example , according to a recent Goldman Sachs report , 300 million jobs could be affected in the coming years ‘ if Generative AI delivers on its promised capabilities ’. For example , the media industry is already facing a torrent of layoffs as some content creators are being replaced by ChatGPT tools .
In other news , the ‘ Godfather ’ of Machine Learning ( ML ), Geoffrey Hinton , announced his resignation
Tim Hentschel , Co-founder and CEO , HotelPlanner www . intelligentcxo . com
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