World Travel & Tourism Council and Microsoft predict that AI will bring about a revolutionary transformation in the travel and tourism industry.

The World Travel and Tourism Council (WTTC) and Microsoft have joined forces to release groundbreaking reports on the pivotal role of Artificial Intelligence (AI) in shaping the future of the Travel and Tourism industry. The reports, titled “Responsible Artificial Intelligence (AI): Overview of AI Risks, Security and Governance” and “Artificial Intelligence (AI): Global Strategies, Policies and Regulations”, mark significant milestones in advancing innovation and enhancing customer experiences through AI technology.

The Responsible Artificial Intelligence report delves into the potential risks associated with AI deployment and offers actionable strategies to establish frameworks that promote transparency, accountability, and fairness. Key areas of focus include addressing bias, discrimination, and ensuring human oversight of AI systems.

On the other hand, the Artificial Intelligence report provides a comprehensive overview of the AI ecosystem, highlighting different approaches countries take in regulating AI. WTTC President & CEO, Julia Simpson, emphasized that AI is not just a technological advancement but a strategic tool that can personalize customer experiences, drive sustainable improvements, and shape the future of Travel & Tourism.

Furthermore, leading hotel groups like Iberostar have successfully utilized AI to monitor and reduce food waste, resulting in a 27% cost savings and preventing thousands of kilograms of food from going to waste. Microsoft’s Managing Director of the Travel, Transport, & Logistics Industry, Julie Shainock, highlighted how AI enhances customer and employee experiences while streamlining operations.

Both reports stress the critical importance for Travel & Tourism businesses to prioritize AI adoption as a strategic imperative. Despite the sector facing challenges such as a shortage of AI-skilled workforce, the transformative power of AI in redefining how businesses operate in the industry cannot be overlooked. The future of Travel & Tourism is undoubtedly being shaped by the integration of AI technology.