SINGAPORE 5 April, 2018: Three major shifts in automation, authenticity and blockchain are reshaping the travel technology landscape according to Sabre Corporation’s latest Sabre Labs 2018 Emerging Technology Report.
The forecast focuses on evolving technologies and trends that will impact travel over the next decade, many of them possibly disrupting Sabre’s core distribution channel the traditional travel agents.
The 2018 report evaluates automation, authenticity and blockchain as three major areas for consideration.
“Increasingly, people are coming to understand that the travel business is really a technology business,” said Sabre Labs director Philip Likens, hinting at the importance of data flow and online systems that will provide consumers with extensive travel content and booking channels.
That in itself challenges the traditional concept that travel is essentially a people business. Ultimately the drift in A.I. could see the travel experience presented and managed by travel data banks that learn from consumer prompting, a trend that is already emerging through in home systems developed by Google. Home devices will set up the entire travel booking process with the consumer affirming their choice and authorising payment without the need for intermediaries.
The report identifies three major areas that Sabre Labs believes will have the most significant impact on the industry:
Automation
Automation is not a new idea. However, advancements in A.I. and machine learning offer the potential for step-changes in how we may be served in our digital environment. Awareness and cognitive capacity for machines suggest a huge range of opportunities for those serving the travel space to completely rethink when and what to sell, how to staff and operate their businesses, and how to anticipate and exceed their own customers’ needs.
Authenticity
In our current age, trust is in low supply – so authenticity and authentic experiences are more valuable than ever. At the same time, businesses increasingly need to rely on technology and digitization to interact with their customers at scale. But is technology in tension with authenticity? Is digital the enemy of the real? And how can we reconcile augmented and virtual realities with authenticity?
Blockchain
Huge volatility in the price of crypto-currencies has been dominating headlines but serve to overshadow the value in the underlying blockchain technology.
Separating crypto hype from the actual potential of distributed ledger technology – which enable secure, “trustless” transactions to take place – can be hard to do. But there is significant promise for blockchain as it relates to travel, not the least of which is this: imagine heading off on a round-the-world trip without having to bring your passport or wallet.
Concluded Likens: “Tomorrow’s travellers have a set of expectations fueled by access to information, smooth transactional experiences, and increasingly personalized offers. There is tremendous opportunity for companies to begin thinking about how their brand can be agile enough to meaningfully interact with tomorrow’s travellers. This report explores how technology can mediate and enhance these interactions – and ultimately make the journey better for everyone.”
(Source: Sabre Labs)
