By combining artificial intelligence (AI) and big data, organizations can see and predict upcoming trends in key sectors including business, technology, finance and healthcare.
AI is the simulation of human intelligence by computers. By applying machine learning algorithms, we can make ‘intelligent’ machines, which can employ cognitive reasoning to make decisions based on the data fed to them. Big Data, on the other hand, is a blanket term for computational strategies and techniques applied to large sets of data to mine information from them. Big data technology includes capturing and storing the data, and then analyzing data to make strategic decisions and improve business outcomes. Most companies deploy big data and AI in silos to structure their existing data sets and to develop machines which can think for themselves. But, big data is in reality the raw material for AI. So, when big data meets AI, they have the potential to transform both, the way data is structured and the way machines learn.
What is Artificial Intelligence and its Subets?
Artificial intelligence (AI) leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.
It is a constellation of many different technologies working together to enable machines to sense, comprehend, act, and learn with human-like levels of intelligence.
Here are the subsets of artificial intelligence:
- Machine Learning.
- Deep Learning.
- Natural Language processing.
- Expert System.
- Machine Vision.
- Speech Recognition.
What is Big Data and Its 3Vs?
Big data is data that contains greater variety, arriving in increasing volumes and with more velocity.
Although the concept of big data itself is relatively new, the origins of large data sets go back to the 1960s and ‘70s when the world of data was just getting started with the first data centers and the development of the relational database.
Benefits of Big Data and Artificial Intelligence in the Digital Era
Corporations analyze and manage extensive data sets every day. Client information, employee details, business statistics, all put together, can be a huge collection of unstructured data that can be sorted and studied for business optimization. Big data provides solutions to collect and store data in a robust manner, while AI, with its machine learning techniques, learns from the data sets to make better decisions in the future.
Here are the benefits of big data:
Big data cuts business costs.
Big data increases efficiency.
Big data improves pricing.
Big data provides more tools to compete with big businesses.
Big data allows organizations to focus on local preferences.
Big data helps increase sales and loyalty.
Big data ensures you hire the right employees.
The retail brand Walmart is already using big data with AI to revise their business structure. With over millions of customers accessing their online and offline stores every single day, Walmart collects customer data in the range of petabytes. Big data analysts work on the vast data set, helping their machine learning algorithms master the decision-making skills. Studying the trending products on the site, patterns in customer buying habits, and relations between the demand and supply of goods, helped Walmart remodel its website and inventory to suit the needs of their customers, thus boosting their business.
AI algorithms usually work on sample data sets to in the machine’s initial stages of learning. However, clubbing the algorithms with live data allows machines to learn from actual data sets rather than sample ones. Thus, we can efficiently train our machines to make better decisions right from the learning stage.
An excellent example of this comes from the meteorology department. Servers in weather observatories receive data in the form of text, images, and videos from satellites, weather stations, and relay boards from all over the world. Big data coupled with AI is used in these domains to efficiently store the data and then work on it using image and video processing techniques for weather predictions.
Here are the benefits of artificial intelligence:
1) Less Human Errors: There is less room for error with artificial intelligence.
2) Doing More Complex Tasks: Artificial intelligence can perform a more laborious task with extra hard work and with greater responsibility.
3) Available 24/7: Educational Institutes and Helpline centers are getting many queries and issues which can be handled effectively using AI.
4) Providing Digital Assistance: Virtual assistants inside smartphones, PCs, or connected home speakers, like Apple’s Siri, Microsoft’s Cortana, Google’s Google Now, Samsung’s Galaxy S8’s Bixby and Amazon’s Alexa, provide contextual information.
5) Assisting Humans in Repetitive Tasks: In banks, we often see many verifications of documents to get a loan which is a repetitive task for the owner of the bank. Using AI Cognitive Automation the owner can speed up the process of verifying the documents by which both the customers and the owner will be benefited.
6) More Productive: Emotions are not associated with artificial intelligence robots and therefore the mood doesn’t hamper the efficiency. Thus they are always productive.
7) Educating The Next Generation: Nowadays, medical professionals are trained with artificial surgery simulators. It uses applications which help in detecting and monitoring neurological disorders and stimulate the brain functions.
8) Right Decision Making: The integration of AI tools in the business world has improved the efficiency of organizations.
Although computers cannot match human brains on a cognitive level, they are essential to sort and organize the vast data sets we deal with in the modern world. By merging AI and big data, we can obtain a structured real-time database, which can further be used in a variety of applications. Though the merger of these two domains is still in progress, we can expect rapid breakthroughs in the way we handle extensive data sets in businesses and in everyday lives.
How Hotels and Resorts are Adopting Virtual and Augmented Reality
Once upon a time, virtual reality (VR) and augmented reality (AR) were only used for video games or seen in movies (think Tony Stark and all of his cool gadgets in Iron Man).
But today, thanks to all of the advances in technology, the use of AR and VR is no longer something you see only in sci-fi thrillers or something that you use for entertainment. No today, AR and VR are becoming much more commonplace, and this technology is being used in a variety of useful applications across a variety of industries. The hotel and hospitality industry is just one field that is making use of augmented and virtual reality, and its popularity is really exploding!
In fact, AR and VR have become powerful marketing tools for hotels and resorts around the globe. These technologies are really changing the way people are travelling, and it’s definitely for the better.
How are hotels and resorts utilizing augmented and virtual reality and how are these technologies helping both entrepreneurs and travellers alike? Read on to discover the exciting technologically advanced future or travel!
What is Augmented and Virtual Reality?
Before we jump in and explore how hotels and resorts are using augmented and virtual reality, it’s first important to understand exactly what these technologies are.
Both AR and VR create experiences that fully immerse users into different environments or allow them to experience things in a whole new way, but these two technologies do differ. Loosely defined, virtual reality means near-reality (virtual meaning near and reality meaning the here and now; what you are actually experiencing.). Virtual reality immerses users into an interactive computer-generated environment. It incorporates a variety of senses, primarily sight and sound, to create a life-like experience. In other words, you feel as if you have been transported to another location even though you never physically left your current location.
Augmented reality, on the other hand, involves adding to the reality that you already see; it doesn’t replace your reality, but rather enhances it. AR has the ability to bring elements of the digital world into the real world (again, think Tony Stark in Iron Man).
So, now that you have a basic understanding of virtual and augmented reality, let’s examine how hotels and resorts are utilizing these technologies.
Providing an Experience Before Booking
How many times have you reserved a hotel, only to find, much to your dismay, that it was not at all what you were expecting. Sure, pictures can help you get a vague idea of what to expect, but they really can’t give you a clear idea.
With virtual reality, you can get a real idea of where you’re going to be travelling before you make a reservation. You can slip on a headset and be transported to a resort or hotel and actually walk through the lobby, see the guest rooms, and check out all of the amenities.
VR is not only beneficial for travellers’, it is also beneficial to hotels and resorts; particularly lesser-known properties or those that are located in remote areas, as it allows them to give people the opportunity to see what they have to offer.
Establishing a Competitive Edge
The hotel and hospitality industry is extremely competitive. Travellers’ have so many options when it comes to where they can stay. And with hotel and resort database sites, like Booking.com and Travelicity.com, the competition has become even steeper.
With so much competition, it can be hard for hotels and resorts to set themselves apart from the crowd. Photos and marketing content can only do so much. But augmented and virtual reality can really help hotels and resorts establish a competitive edge. It allows them to distinguish themselves and showcase their unique selling points. In other words, it gives them the chance to show prospective travellers the chance to explore the gardens, visit the restaurants, and lounge by the pool that resort A has to offer, thus allowing the resort to stand out in the crowd and attract more people.
Making Booking Easier
Another way that hotels and resorts are adopting advanced technologies to simplify the booking process for their guests. For example, most hotels and resorts offer different types of accommodations; standard rooms, suites, handicap accessible rooms, and so forth. By using augmented and virtual reality, guests can actually see what different accommodations offer to determine what will best meet their needs.
When potential visitors have the opportunity to really experience different accommodations, the process of making reservations becomes a lot easier for them.
Ensuring Guest Satisfaction
Hotels and resorts are also using AR and VR as a way to improve guest satisfaction. When people have the chance to see what they are going to get before they arrive, it’s much more likely that they are going to have a more pleasant experience, and when they have a more pleasant experience, guests are much more satisfied. When guest satisfaction improves, so does the reputation of a hotel or resort, which translates to much greater success.
A lot of properties are using AR as a way to make the environment of their hotel or resort more enjoyable for their guests. For instance, some hotels are using AR to allow guests to use their smartphones to see them alongside images of their favourite celebrities or cartoon characters. Other hotels are using AR as a means for showcasing products or entertainment options the hotel/resort features.
Summing It Up
Augmented reality and virtual reality are already proving to be invaluable tools for hotels and resorts around the globe. These technologies are a truly effective way to develop a competitive edge, allow guests to see what properties have to offer, improve the booking process, and ensure guest satisfaction.
Given the incredibly positive effects that augmented reality and virtual reality have had for hotels and resorts, it is exciting to think of how these technologies will further be adopted by hotels and resorts, and how AR and VR will enhance marketing for establishments and experiences for travellers in the future.
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