Artificial intelligence (AI) has taken over the world, with most major technology companies vying for dominance in the AI space. The travel and hospitality sectors are also taking steps towards AI.
The impact AI has on sales and marketing within the hospitality industry cannot be overlooked. AI analytics makes it easier to monitor website traffics and leads with precision.
According to AI author, Mo Gawdat (former Chief Business Officer of Google), they understand that with the evolving technology and computer power and intelligence “all encryptions can be decoded.”
Artificial Intelligence has become essential for businesses to stay ahead of the curve. The hospitality industry stands to benefit a great deal from embracing AI technology.
Astrino Nicoloudakis, Chief Investment Officer of Acsion Limited at Acsiopolis said with their “multi-use lifestyle development” they recognise “the transformative potential of AI and are proud to be at the forefront of this revolution.”
“As part of our early adoption of AI, a key advancement is the creation of a position within our organisation for prompt engineers. This role requires an individual with a strong background in mathematics and analytics, as well as proficiency in language. Our prompt engineers will compile prompts that enable AI algorithms to provide reports with accurate and tailored information based on specific instructions.”
He continue, “The data gathered from these reports will be used to improve our offering and service delivery, resulting in a better experience for all our guests. Building upon our existing expertise in finance and IT, which includes an actuary in our finance department and a dedicated in-house IT team, this new position will further enhance our ability to leverage AI technology effectively.”
Nicoloudakis believes that as much AI has a great impact on the hospitality industry, it is important to note that the face-to-face relationships remain at the top of the chain and “paramount in certain customer segments and cannot be replaced; human interaction remains core to the hospitality sector.”
“When it comes to the finance department, organisations that integrate their property management systems (PMS) with accounting software will reap significant benefits from AI adoption. Basic accounting tasks can be performed by AI algorithms, reducing human error in data capturing. This allows finance departments to become experts in big data analytics, providing decision-makers with vital information that drives AI algorithms.”
“Ultimately, the success of AI in the hospitality industry hinges on the ability to overlay existing generative artificial intelligence models with unique data and insights. Prompt engineers play a critical role in directing learning algorithms, ensuring more accurate decisions to cater to the ever-evolving customer and guest base,” said Nicoloudakis.
Customers demand and prefer unique experiences and like to feel cratered to, with AI it makes it easier for the hospitality industry to meet those standards and demands and able to deliver personalised experiences.
Source: By Astrino Nicoloudakis, Chief Investment Officer of Acsion Limited at Acsiopolis Mixed Used Precinct
