ΔΙΕΘΝΗΣ ΕΛΛΗΝΙΚΗ ΗΛΕΚΤΡΟΝΙΚΗ ΕΦΗΜΕΡΙΔΑ ΠΟΙΚΙΛΗΣ ΥΛΗΣ - ΕΔΡΑ: ΑΘΗΝΑ

Ει βούλει καλώς ακούειν, μάθε καλώς λέγειν, μαθών δε καλώς λέγειν, πειρώ καλώς πράττειν, και ούτω καρπώση το καλώς ακούειν. (Επίκτητος)

(Αν θέλεις να σε επαινούν, μάθε πρώτα να λες καλά λόγια, και αφού μάθεις να λες καλά λόγια, να κάνεις καλές πράξεις, και τότε θα ακούς καλά λόγια για εσένα).

Παρασκευή 15 Νοεμβρίου 2024

Dreamers, Gamblers, Promoters and Makers: Imagining the Future of Travel Tech

 

In Fleetwood Mac’s Dreams, Stevie Nicks sings, “Now here I go again, I see the crystal visions, I keep my visions to myself, It’s only me who wants to wrap around your dreams, And have you any dreams you’d like to sell? Dreams of loneliness …”

You get the drift.

Well, in travel, it’s not just the gamblers, promoters, and makers who drive change. Dreamers have their place too. They’re the ones who envision possibilities beyond the data, imagining new futures for the industry. And if I had to guess, I’d say at least 80% of those who work in travel are optimists, dreamers at heart. After all, travel is as much about exploration and wonder as it is about technology and logistics.

At WiT Singapore, we tapped into this spirit of dreaming, inviting four travel tech leaders to imagine the future of travel in a world transformed by next-generation technology. With AI on everyone’s mind, we asked provocative questions like, “Is search as we know it over? Is there room for a new disruptor to take on Booking.com?” And finally, we challenged them to think even bigger, to dream about the “what ifs” in travel tech.

Here’s a look at their visions for the future of travel – and how AI, personalization, and evolving consumer expectations might change everything.

 

Next-Gen Travel Tech: Synthesizing Data and the Rise of Personal Agents

For Timothy O’Neil-Dunne, principal, T2Impact, one of the biggest opportunities lies in synthesizing the overwhelming flood of data that today’s travel platforms collect. The goal, he believes, is to create AI-driven agents that can cut through the noise, curating and organizing information to create a seamless experience for the traveller.

“The biggest thing I’m looking at is synthesizing the amount of stuff that’s thrown at us. Synthesizing is perhaps the biggest skill that’s immediate,” he said.

This idea extends to the concept of the “connected trip”, where AI helps link all aspects of a journey – from flights and hotels to in-destination activities. Magpie Travel’s Christian Watts emphasized the potential of generative AI to enhance the in-destination experience, making each step of the journey feel cohesive and personalized.

“The in-destination experience is the interesting part. GenAI, with your phone in your pocket, can enable a truly connected trip. And that’s solvable today.”

 

Timothy O’Neil-Dunne: “The biggest thing I’m looking at is synthesizing the amount of stuff that’s thrown at us. Synthesizing is perhaps the biggest skill that’s immediate.”

 

True Pricing Transparency and Enhanced Travel Experiences

Air travel has long been plagued by confusing pricing structures and bait-and-switch tactics. But with AI, true pricing transparency may finally be within reach. O’Neil-Dunne envisions a future where travellers can see exactly what they’re paying for – no hidden fees, no surprises.

“What I think is going to happen in true retailing is that people will finally be able to see something and buy exactly what they want,” he said.

Mike McGearty, CEO and co-founder, Meili echoed this sentiment, expressing hope that AI will make travel experiences more seamless, reliable, and enjoyable. By removing friction points and offering real-time, accurate information, the industry can shift towards delighting the customer.

“I hope we get to a point where we can truly delight the customer and make travel more seamless, with less friction.”

 

AI as a Game-Changer for Personalization and Efficiency

AI is already transforming travel in fundamental ways, from the booking process to personalization. Watts argued that even if large language models (LLMs) never improved from their current state, the travel industry would still be revolutionized within two years.

“If these LLMs didn’t progress one inch further, this whole industry would still be revolutionized in two years,” he said.

The promise of AI goes beyond just operational efficiency; it’s also about delivering true personalization. Watts sees LLMs as fully personalized machines capable of understanding users on a human level. Yet, there’s a debate on whether AI can truly capture the nuances of human preferences and adapt to complex, emotional needs.

“The LLM, in its raw state, is a fully personalized machine. It understands you as humans. It understands you personally,” he added.

 

Mike McGearty: “I hope we get to a point where we can truly delight the customer and make travel more seamless, with less friction.”

 

Balancing AI Efficiency with the Human Touch

One of the recurring themes at WiT Singapore was the importance of preserving the human touch in travel. While AI offers incredible efficiency and personalization, travel is, at its core, a human experience. O’Neil-Dunne noted that the key may lie in using AI to enhance communication, not replace it.

“What if we actually learned to use this great tech to communicate more openly with people?” he dreamt.

As much as AI can anticipate needs, suggest options, and even answer questions, there’s still a role for empathy and human connection, especially in an industry as personal as travel.

 

Privacy, Data Protection, and the Future of Tech-Enhanced Travel

As AI and tech like drones become more common in travel, privacy concerns are growing. Agoda’s vice president of corporate development, Timothy Hughes highlighted that with drones potentially becoming as ubiquitous as mobile phones, privacy management will become a pressing issue.

“I think we’ll be talking about how we manage privacy now that everybody has a drone. There’s a point where drones could become as common as mobile phones.”

This brings up the need for data transparency and control. As next-gen travelers demand more from their travel experiences, they also want transparency around how their data is used, especially when it comes to privacy-sensitive technologies like drones and facial recognition.

 

Christian Watts: “If these LLMs didn’t progress one inch further, this whole industry would still be revolutionized in two years.”

 

Sustainability and Over-Tourism: Can AI Help?

Another critical area where AI could make a difference is in addressing over-tourism and promoting sustainable travel. Hughes expressed hope that AI might offer solutions to travel’s environmental challenges by helping optimize travel patterns, suggesting alternative destinations, and reducing the strain on overcrowded sites.

“We want to find some sort of solution to over-tourism and connectivity. How do we travel as much as we want to while still maintaining the planet?”

For Hughes, AI’s potential goes beyond just personalizing trips – it could help create a sustainable balance between tourism demand and environmental preservation, making travel more sustainable for future generations.

 

Levelling the Playing Field with AI

One of AI’s most exciting implications in travel is its potential to level the playing field between small and large players. Hughes pointed out that AI tools are now accessible to everyone, allowing smaller companies to compete in ways that were previously impossible.

“Whether you’re a giant or a minnow, each of us now has access to AI as a full-on tool, as the glue that holds our technology together.”

With AI driving everything from pricing to personalization, smaller companies can now offer experiences and efficiencies that previously required massive budgets and resources. This democratization of technology could spark a new era of innovation and competition in travel.

 

Tim Hughes: “I think we’ll be talking about how we manage privacy now that everybody has a drone. There’s a point where drones could become as common as mobile phones.”

 

The Direct vs. Indirect Battle – and the Evolution of Loyalty

The debate between direct booking and intermediaries continues to be a hot topic, with both sides holding strong positions. Advocates for direct booking argue that cutting out middlemen provides more transparency, control, and better prices for consumers. Meanwhile, intermediaries emphasize their role in offering choice and comparison.

“Direct has been calling the death of indirect for 24 years and counting. We’re still standing, and we’ll still be standing in another 24 years because we’re an ecosystem,” declared Hughes.

In response, McGearty, whose company offers direct connectivity to travel suppliers, said, “Nextgen travelers demand transparency, control, and the best possible price. Cutting out the middleman delivers exactly that.”

He said also that loyalty programmes are also evolving to become more deeply embedded into the customer journey and suggested that future loyalty programmes may transform into broader ecosystems, integrated into every stage of the travel experience.

“I think loyalty will become embedded much deeper into the customer journey. Loyalty programmes themselves will evolve and become ecosystems in their own right.”

 

Imagining the Future: The Dreamers of Travel Tech

The conversations at WiT Singapore painted a future where AI reshapes every aspect of travel, from booking and personalization to sustainability and privacy. But as much as we rely on AI, it’s the dreamers – the optimists, the risk-takers, and the innovators – who keep pushing the industry forward. They’re the ones who dare to ask, “What if?”

Whether it’s the idea of a fully connected trip, the dream of true pricing transparency, or the hope for AI-driven sustainability, it’s clear that the future of travel tech isn’t just about algorithms and data. It’s about the possibilities we can imagine and the experiences we can create.

In a world that sometimes feels increasingly automated, travel remains a journey filled with discovery, connection, and wonder. And thanks to these dreamers, it’s only getting started.

Tags: WiT SingaporeTravel TechAI,  Timothy HughesThe Direct vs.,   O’Neil-DunneMike McGearty,  MeiliLLM