Global Courant
Image: AxisRooms
Artificial intelligence (AI) has taken over the world, with most of the big tech companies vying for dominance in the AI space. The travel and hospitality industry is also taking steps towards AI.
The impact AI is having on sales and marketing within the hospitality industry cannot be overlooked. AI analytics make it easier to accurately track website traffic and leads.
According to AI author, Mo Gawdat (former Chief Business Officer of Google), they understand that with evolving technology and computing power and intelligence “all encryptions can be decrypted”.
Artificial intelligence has become essential for companies to stay ahead. The hospitality industry benefits greatly from embracing AI technology.
Astrino Nicoloudakis, Chief Investment Officer of Acsion Limited at Acsiopolis said that with their “multi-use lifestyle development” they “recognize the transformative potential of AI and are proud to be at the forefront of this revolution.”
“As part of our early adoption of AI, an important advancement is creating a position within our organization for fast engineers. This role requires an individual with a strong background in mathematics and analysis, as well as proficiency in language. Our prompt engineers will build prompts that allow AI algorithms to deliver reports with accurate and tailored information based on specific instructions.
He continues: “The data collected from these reports will be used to improve our offerings and services, resulting in a better experience for all our guests. Building on our existing expertise in finance and IT, including an actuary in our finance department and a dedicated in-house IT team, this new role will further enhance our ability to effectively leverage AI technology.”
Nicoloudakis believes that while much AI is having a major impact on the hospitality industry, it is important to note that the face-to-face relationships remain at the top of the chain and “are paramount in certain customer segments and cannot be will be replaced; human interaction remains the core of the hospitality industry.”
“When it comes to the finance department, organizations that integrate their property management systems (PMS) with accounting software will reap significant benefits from the adoption of AI. Basic accounting tasks can be performed by AI algorithms, reducing human error in data capture. This will enable finance departments to become experts in big data analytics, providing decision makers with essential information that drives AI algorithms.”
“Ultimately, the success of AI in the hospitality industry depends on its ability to overlay existing generative artificial intelligence models with unique data and insights. Fast engineers play a vital role in driving learning algorithms, making more accurate decisions to meet the ever-changing customer and guest base,” said Nicoloudakis.
Customers demand and prefer unique experiences and like to feel cratered. AI makes it easier for the hospitality industry to meet those standards and requirements and deliver personalized experiences.
Source: By Astrino Nicoloudakis, Chief Investment Officer of Acsion Limited at Acsiopolis Mixed Used Precinct
