Utilizing Gen AI, IoT, and Green Initiatives to Enhance the Travel Experience

Travel, transportation, and hospitality enterprises increasingly invest in omnichannel experiences to enhance customer satisfaction across the entire value chain. These enterprises are streamlining routine operations and boosting business efficiency by harnessing advanced digital technologies such as generative AI, IoT, analytics, cloud computing, and intelligent automation. This strategic approach also involves rigorously re-evaluating their cybersecurity frameworks to effectively mitigate cyber threats. Simultaneously, these enterprises are committed to green initiatives, striving to achieve net-zero carbon emissions while advancing their operational goals.

Both demand- and supply-side trends are covered in Avasant’s Travel, Transportation, and Hospitality Digital Services 2024 Market Insights™ and Travel, Transportation, and Hospitality Digital Services 2024 RadarView™, respectively. These reports present a comprehensive study of digital service providers in the travel, transportation, and hospitality industry, including top trends, analysis, and recommendations. The reports also take a close look at the leaders, innovators, disruptors, and challengers in this market.

We evaluated 40 service providers across three dimensions: practice maturity, investments and innovation, and partner ecosystem. Of the 40 providers, we recognized 21 that brought the most value to the market during the past 12 months.

The reports recognize service providers across four categories:

• • Leaders: Accenture, Capgemini, Cognizant, HCLTech, Infosys, and TCS
  • Innovators: Coforge, IBM, LTIMindtree, Tech Mahindra, and Wipro
  • Disruptors: EXL Service, Genpact, ITC Infotech, Kyndryl, and Sutherland
  • Challengers: Atos, HARMAN, IGT Solutions, NTT DATA, and Virtusa

The figure below from the full report illustrates these categories:

“Travel and hospitality enterprises are accelerating the execution of integrated digital strategies across industry segments to deliver the best customer journey by perfecting their omnichannel experience and optimizing their digital marketing,” said Carlos Hernandez, managing partner at Avasant. “They are accelerating the adoption of Gen AI for deeper personalization to predict and anticipate and elevate the guest experience across the value chain.”

The reports provide several findings, including the following:

• • Organizations are embracing an omnichannel strategy to deliver smooth and integrated digital experiences across multiple touchpoints.
  • Enterprises are leveraging generative AI to simplify their operations, address staffing issues, and maintain a competitive edge.
  • To meet the increasing demand for travel services, companies are focusing on real-time data collection and analytics to proactively manage and resolve supply chain disruptions.
  • Increased travel demands and digital advancements have made it essential for travel companies to implement strong data protection measures to secure customer information.
  • Regenerative tourism is gaining momentum as  businesses spearhead the shift toward sustainable luxury.

“Service providers are delivering end-to-end solution suites with Gen AI features to optimize various front-office tasks,” said Amar Verma, senior analyst at Avasant. “They are focusing on expanding their industry partnerships to codevelop innovative solutions.”

The RadarView™ also features detailed profiles of 21 service providers, along with their solutions, offerings, and experience in assisting travel, transportation, and hospitality enterprises in their digital transformation journeys.

This Research Byte is a brief overview of Avasant’s Travel, Transportation, and Hospitality Digital Services 2024 Market Insights™ and Travel, Transportation, and Hospitality Digital Services 2024 RadarView™ (click for pricing)