Artificial Intelligence (AI) is revolutionizing the travel & tourism sector, with companies like Amadeus IT Group and State Farm leveraging new technologies like computational load mitigation and adaptive route optimization. These innovations boost search relevance, travel efficiency, and customer experiences, helping businesses stay competitive. Beyond travel, AI’s influence spans various industries, driving global innovation, investment, and hiring trends, with the US leading adoption. GlobalData’s artificial intelligence market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the travel & tourism industry regarding AI. It provides an overview of recent developments in AI-related deals, talent acquisition, and patent filings within the travel & tourism industry.
Diverse applications of artificial intelligence in travel & tourism industry
Travel and tourism companies are increasingly leveraging innovative Artificial Intelligence technologies to enhance customer experiences and streamline operations. Recent patents highlight advancements such as a multi-participant voice ordering system by SoundHound AI, enabling seamless interaction for group orders. Airbnb's audience interface for presentations allows real-time audience engagement through emotes, simulating in-person interactions. JetBlue's cloud-based messaging system optimizes communication by generating custom announcements based on geographic data. Additionally, Korrus, Inc. has developed an automated platform for designing lighting installations, enhancing ambiance in travel spaces. These technologies collectively improve service efficiency, personalization, and user engagement, positioning these companies to better meet evolving consumer expectations in the travel sector.
The industry experienced a 23% decline in the number of AI-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of AI-related patent applications in the travel & tourism industry witnessed a rise of 18% compared with Q2 2023.
Strategic deal trends in artificial intelligence in travel & tourism industry
Travel & tourism companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in AI. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of AI in the travel & tourism industry.
In Q2 2024, the number of AI-related deals in the travel & tourism industry grew by 75% compared with Q2 2023. On a quarterly basis, there was 600% increase in the number of deals in Q2 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2024, the travel & tourism industry experienced a 1% drop compared with the previous quarter. On an annual basis, job postings also grew by 11%. Notably, computer and mathematical occupations, with a share of 32%, emerged as the top AI-related job roles within the travel & tourism industry in Q2 2024, with new job postings rising by 21% quarter-on-quarter. Management occupations came in second with a share of 17% in Q2 2024, with new job postings dropping by 3% over the previous quarter. The other prominent AI roles include architecture and engineering occupations with a 4% share in Q2 2024, and business and financial operations occupations with a 4% share of new job postings.
Uber Technologies, Walt Disney, Expedia Group, Airbnb, and Deutsche Lufthansa are among the top companies leading in AI hiring within the travel & tourism industry.
Countries driving adoption of artificial intelligence in travel & tourism industry
The US is the leading country in AI adoption within the travel & tourism industry, boasting the highest number of AI-related patents, jobs, and deals. Meanwhile, China, the UK, the Netherlands and Mexico also maintain significant positions in AI adoption within the travel & tourism industry.
In conclusion, AI is rapidly transforming the travel & tourism industry through innovative technologies, strategic investments, and growing job opportunities, with the US leading global adoption. These advancements are driving efficiency, personalization, and engagement, positioning companies at the forefront of industry evolution.
To further understand GlobalData's analysis on artificial intelligence in the travel & tourism industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.
