Wednesday, August 14, 2024 Artificial Intelligence (AI) is rapidly transforming the travel and tourism sector, with companies such as Amadeus IT Group and State Farm leveraging cutting-edge technologies like computational load mitigation and adaptive route optimization. These advancements are significantly enhancing search relevance, travel efficiency, and customer experiences, positioning businesses to stay competitive in an evolving market. Beyond travel, AI’s influence spans various industries, driving global innovation, investment, and hiring trends, with the United States leading in adoption.
GlobalData’s comprehensive AI market report provides an in-depth analysis of these trends. This article offers a quarterly overview of the latest developments in AI within the travel and tourism industry, focusing on recent advancements in AI-related deals, talent acquisition, and patent filings. Diverse Applications of AI in Travel & Tourism The travel and tourism industry is increasingly adopting AI technologies to improve customer experiences and streamline operations.
Recent patent filings highlight innovations such as SoundHound AI’s multi-participant voice ordering system, which facilitates seamless group orders, and Airbnb’s audience interface for presentations, allowing real-time audience engagement through interactive emotes. JetBlue has introduced a cloud-based messaging system that generates custom announcements based on geographic data, while Korrus, Inc. has developed an automated platform for designing lighting installations that enhance ambiance in travel spaces.
These technologies collectively advance service efficiency, personalization, and user engagement, helping companies meet the evolving expectations of consumers. Strategic AI Deal Trends in Travel & Tourism Travel and tourism companies are not only focusing on innovation to bolster their patent portfolios but are also making strategic investments in AI to secure partnerships and stay at the forefront of industry advancements. In Q2 2024, the number of AI-related deals in the travel and tourism industry surged by 75% compared to Q2 2023, with a remarkable 600% increase on a quarterly basis from the previous quarter.
These figures underscore the growing importance of AI in shaping the future of the travel and tourism sector. Impact on Hiring The travel and tourism industry is also seeing shifts in hiring trends due to AI. In Q2 2024, the industry experienced a 1% drop in new job postings compared to the previous quarter.
However, on an annual basis, job postings grew by 11%. Notably, roles in computer and mathematical occupations, which accounted for 32% of AI-related job postings in Q2 2024, saw a 21% increase from the previous quarter. Management occupations followed with a 17% share, though postings for these roles decreased by 3%.
Other prominent AI roles included architecture and engineering (4%) and business and financial operations (4%). Leading companies in AI hiring within the travel and tourism sector include Uber Technologies, Walt Disney, Expedia Group, Airbnb, and Deutsche Lufthansa. Countries Leading AI Adoption in Travel & Tourism The United States remains the leader in AI adoption within the travel and tourism industry, boasting the highest number of AI-related patents, jobs, and deals.
Other countries making significant strides in AI adoption include China, the UK, the Netherlands, and Mexico. Conclusion AI is rapidly revolutionizing the travel and tourism industry through innovative technologies, strategic investments, and evolving job opportunities, with the US leading global adoption. These advancements are driving improvements in efficiency, personalization, and customer engagement, positioning companies at the forefront of industry evolution.
For a deeper understanding of GlobalData’s analysis on AI in the travel and tourism industry, you can purchase the full report here . About GlobalData GlobalData is the leading provider of industry intelligence, offering proprietary data, research, and analysis. Our patent analytics track filings and grants across companies and themes, while our databases monitor global deal activity and job postings to identify trends and industry dynamics.
.
