AI top priority for travel tech stacks

Artificial intelligence (AI) investments are poised to account for a significant portion of travel company budgets

Ahead of this year’s event, new data from TravelTech Show has revealed the key trends and priorities of travel companies. Most significantly, 62 per cent of travel buyer respondents said they expect their budgets to increase over the next 12 months with over a quarter (28 per cent) of increases expected to be by as much as 20 per cent.

Key takeaways

• The main benefit of technology was seen as increased efficiency (32%), while second place (12%) was shared by increased revenue and profitability, boosting of ‘guest relations and personalisation’ and help with managing bookings;
• Over two thirds (68%) stated that technology was helping to mitigate the impact of inflation and staff shortages;
• The survey also suggested that social media could be in decline, with websites voted as the best avenue for driving bookings (40%), followed by OTAs at 20%, while search engines and social media shared joint third position after being selected by 16%.

Get the full story at Travel Tech Show