AI could revolutionise booking systems for hotels and help optimise pricing algorithms, reckons Barclays PLC (LSE:BARC).
Some of the largest names in the hotel industry are adopting AI tools “with cautious optimism”, a research report by the UK bank said.
What may excite the hoteliers most is the prospect of cutting costs – and maybe jobs –using the tech to automate check-ins and avoid human error when taking bookings.
AI can also automate repetitive and menial tasks, allowing staff to devote more time to customers, therefore, improving the guest’s experience.
Additionally, the introduction of chatbots and more personalised ad campaigns could improve customer offerings, says Barclays.
However, analysts are concerned that if AI replaces people in their jobs or makes it easier to work from home it could lead to a reduction in business travellers.
A report from the OECD predicts that more than 14% of jobs in 21 countries could be at risk from automation, while another piece of research from McKinsey Global Institute warns 800mln workers could be displaced by 2030.
Premier Inn owner Whitbread PLC (LSE:WTB) relies on travelling workers for around half of its business meaning a drop in this stream of business could significantly dent earnings.