“Technology is now central to travel research, planning, booking and in-trip experiences”
Following his conference at yesterday’s ITB Berlin Convention, ITB Berlin News spoke with Booking Holdings’ CEO and President, Glenn Fogel, in an exclusive interview about the direction the tourism industry is taking
Technology has become an essential component of travel planning, with Artificial Intelligence (AI) taking on an increasingly important role. But as the CEO of Booking Holdings points out, it is not a new technology for the travel industry, or for the online travel giant.
In your view, what are the most significant trends shaping the future of the travel industry right now?
Travellers will continue to grow in their expectations of what platforms, like ours, can deliver and we’re ready to meet that demand, from travel planning with generative AI chatbots to being able to book and manage all components of their trip in one place. Ultimately, the reality that technology is now central to travel research, planning, booking and in-trip experiences is the single most important thing the industry must take on in stride. And we look forward to making sure we are able to use our technology skills to make things better for both our travellers and partners.
What role is AI playing in the travel industry today and how will this change in the near future?
Artificial intelligence is not new to the travel industry and it won’t be going anywhere anytime soon. Today, on our platforms for example, it informs personalising interactions and recommendations, conducts machine translations in 46 languages and dialects, analyses the content of pictures provided by customers and partners, detects when a booking may have used a stolen credit card, and more. In the near future, the industry will see rapid enhancements in its long-standing uses of AI, including algorithms guiding access to great deals and personalised recommendations on platforms, and we will continue to deepen our understanding of how customers want to harness generative AI in their travel experiences.
How is Booking Holdings harnessing these technologies as part of your overall strategy?
We have always known AI technology will play a central role. Although we’ve been using various forms of AI and machine learning for over a decade, generative AI is now accelerating efforts to improve and better connect the end-to-end trip experience for travellers and deliver more value to our partners. Given it is still early days, there’s no one “right” interface at this moment in time, which is why different brands within our company are taking different approaches to integrating generative AI into their products and services. We’re seeing encouraging signs, for example, lower customer service contact rates, and we see that Booking.com’s AI Trip Planner is getting better at answering customers’ inquiries.
What are some of the main challenges the travel industry must overcome?
The interconnectedness of travel is both an opportunity and a challenge. Technology is accelerating access to information and it’s important that everyone in the travel ecosystem is moving forward, together. This is particularly critical with respect to technology because if one area of the industry lags behind, it could inhibit progress across the entire customer travel journey.
Meeting as an industry
For Glenn Fogel, “travel is an enduring force for good in the world, breaking down barriers, bringing communities together” and ITB Berlin not only celebrates that fact, but helps to ensure it stays that way. Mr Fogel underlined how important it is for the industry to come together “to promote the exchange of ideas, examine challenges, and drive collective success for everyone in the travel ecosystem,” especially in the wake of the COVID-19 pandemic. “As the industry has now hit its stride once again, we must applaud travel’s resilience and maintain open dialogue in order to continue to grow and evolve for the better,” he concluded.
