Transformative Experience of AI in Business Travel

Travel Daily Media (TDM): How will Artificial Intelligence (AI) impact the future of business travel? 

Ben Wedlock (BW): The term ‘Artificial Intelligence’ (AI) is everywhere nowadays, but it’s often misunderstood. At BCD, we’ve used AI behind the scenes in many of our products for years. We’re committed to continuing our investment in AI because it helps our team and customers work smarter and faster. As technology evolves, we’re exploring new ways to integrate AI into our services to improve processes for our agents, clients, and travellers. Business travel is being transformed by technology, and AI is at the forefront of that change. It allows for personalised travel planning, automates bookings with virtual assistants, and provides real-time alerts for any disruptions. This technology not only helps companies save money through cost optimisation and predictive analytics but also simplifies expense reporting, enhances traveller safety with risk management tools, and offers 24/7 customer support. For our front office staff, AI helps create corporate travel policies, manage itineraries efficiently, and even promotes sustainable travel options for eco-conscious travellers. The possibilities are endless.

TDM: Is AI in business travel the harbinger of the future or merely another transient buzzword?

BW: Today, every industry sees AI as a major disruptor, and the travel industry is no exception. If we look back a decade or more, the internet was initially viewed as a challenge, but now AI has become essential for survival in our field. At BCD Travel, we have harnessed AI’s potential across various areas, and it has proven to be highly effective in our business travel network. Right now, AI is a hot topic in the industry, with mixed reactions from professionals—some are excited to adopt it, while others remain sceptical. However, using AI in business travel solutions helps better meet travellers’ preferences while aligning with company travel policies. AI also provides support for travellers on the road, ensuring they receive assistance beyond just booking. For employers, this technology helps track travellers, ensuring they arrive safely at their destinations. For travellers, AI can find better airfare prices through price comparisons and streamline expense management by automatically filling in fields when receipts are scanned, which saves time and boosts efficiency. Overall, AI is set to revolutionise many aspects of the travel industry.

TDM: Can you share some key advancements of AI in business travel?

BW: There are many examples today showing how AI can improve experiences, security, efficiency, and well-being across different industries. Although not all organisations are using AI yet, some forecasts suggest that by 2030, about 70% of companies will have adopted this technology. At BCD Travel, we are seeing significant advancements in several key areas. For instance, executives can make better business decisions based on data. Our Advito intelligent business travel solution offers insights into program performance, allowing companies to adjust their strategies for engaging suppliers and travellers in real-time.

We also use AI to automate expense management, matching transactions with credit card data, which saves time compared to manual processes. AI helps identify any discrepancies in transaction amounts, including currency exchange fluctuations, ensuring accurate records. Another exciting development is the use of AI-powered chatbots. These chatbots are available 24/7 to answer traveller questions about policies, bookings, and FAQs, freeing up managers to focus on more critical tasks.

Finally, travel companies leverage AI for predictive analytics to anticipate market trends. This enhances decision-making regarding travel sourcing, bookings, and contracts. In the hotel industry, travel managers use AI to compare room rates across different platforms, leading to more cost-efficient bookings. Overall, AI is making a significant impact on how we approach business travel and improve our services.

TDM: How AI is enabling new technology across the business travel sectors?

BW: The adoption of AI is being viewed and measured differently across industries be it IT, banking, pharmaceuticals, consulting, or even services. However, in business travel, teams in these sectors are adopting AI to improve efficiency. They see AI as a tool that complements human work, enhancing skills and streamlining processes through automation. AI is also transforming the travel experience by offering personalized itineraries based on user preferences, budgets, and past trips. It takes factors like weather, events, and traffic into account for smoother travel planning. A perfect example of this would be TripSource, our digital platform that integrates AI to offer a seamless travel management experience.

Our other solutions offer real-time translation tools that help travellers communicate during international meetings without needing separate apps. AI-powered chatbots use past data to anticipate travel needs and book accommodations, and transportation automatically, reducing the need for manual input. Travellers have the chance to virtually explore a destination before booking. If this is not enough, our AI bots can even tailor suggestions based on your mood, offering personalised experiences like relaxing activities or team-building events.

TDM: What key challenges are presented by AI advancements in business travel?

BW: Implementing AI in a business like ours comes with several challenges. First, many business leaders and employees, may not fully understand AI, and some might even see it as a threat to job security, worrying that it will replace human workers. Integrating AI with existing systems can also be tough, especially if I’m dealing with outdated technology. This means companies would have to invest a lot of time, effort, and money into upgrading systems to make everything work together smoothly.

Data privacy is another big concern, as AI systems rely on sensitive information, and we need to ensure compliance with regulations like GDPR. The financial investment required for AI can be overwhelming, especially when it’s hard to see a clear return on investment (ROI). On top of that, companies will need to keep the AI tools updated to stay competitive, which adds more ongoing costs.

Finding skilled professionals who know how to manage and optimize AI is another hurdle. There’s also the challenge of getting employees on board with AI, as they may resist it due to fears of job loss or disruption to their daily routines. Training staff to work effectively with AI systems adds even more complexity, as companies need to make sure they have the right skills to collaborate with the new technology.

TDM: Could you elucidate the key emerging AI trends in the business travel sector?

BW: AI has changed the way we do business travel, making it more personal, efficient, and adaptable. For me, one of the biggest benefits is how AI helps recommend eco-friendly travel options. It allows companies to track and reduce their carbon footprints by suggesting low-emission flights and green hotels.

The transformative power of AI is seen in how it can assess real-time risks. It keeps an eye on things like political events and weather, helping businesses keep travellers safe and adjust plans as needed. Plus, with AI in airports and hotels, check-ins and security processes are much faster and smoother.

As more companies embrace hybrid work models, AI can even help us decide if travel is really necessary. It can suggest virtual meetings instead of in-person travel, which saves money and reduces travel frequency. Overall, these AI trends are making business travel more personalised, efficient, and sustainable, improving our travel experience while optimising operations.