How AI will impact the travel industry
Brett Keller, CEO of Priceline, joins TheStreet to discuss how AI will impact the travel industry.
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00:00 So you mentioned AI, you launched your very first chatbot, Penny, right?
00:05 In 2023, I believe.
00:07 So what are some of the ways travelers are leveraging that technology to book their travel plans?
00:12 Yeah, absolutely. So Penny is our chatbot.
00:15 She does a number of really great things for consumers as they move through their shopping process.
00:19 One, up front, she can certainly provide interesting ideas and thoughts for you
00:23 in terms of top destinations where people are looking to travel.
00:27 But more importantly, as you move through the process, as you're looking at a hotel or a resort,
00:32 Penny can answer all kinds of questions for you about that property that otherwise you may not have known.
00:38 For example, you might be interested in the type of restaurants that are nearby within walking distance.
00:42 And this is where AI plays an important role for the travel shopping process.
00:46 She also has a full understanding of what deals and discounts and coupons are available at any given time
00:52 for you individually as a consumer.
00:54 And she can present those to you and even apply those for you as you move through the transaction path.
00:59 So a lot of hand-holding as you move through that booking to give you more security and comfort
01:03 in the type of property and/or a flight that you're purchasing.
01:07 I wonder if Penny is going to help us when our flights are delayed or our flights get canceled.
01:11 You know, everybody, I'm sure you get a ton of outrage from phone calls and emails when things happen like that.
01:19 Can Penny help us with that?
01:22 Yeah, well, there's nothing more stressful, obviously, than having the perfect dream trip and having something go wrong.
01:28 And just about every trip you take, there's some nuance where something is going to go off.
01:31 And on occasion, you may need to pick up the phone and call for help.
01:35 Penny is being trained on all of our customer services.
01:39 And so she understands what types of challenges you might be facing.
01:43 She understands the cancellation policies, your opportunities and options.
01:46 And so, yes, she already is answering those types of questions for you real time as you come into our website.
01:51 And over time, she'll play a bigger role as you pick up the phone and call our agents,
01:55 because she should be faster and more efficient at getting to some of these easier questions faster
02:00 and then connecting you to the right agent for the more complex transactions.
02:05 And how do you expect AI to impact the travel industry as we go forward in the coming years?
02:14 Yeah, it's going to impact it in a number of different ways.
02:17 You should find that you'll have a lot more information about destinations, about hotels and properties.
02:24 It's going to be much more personalized for you in particular into your travel needs.
02:28 So if you're traveling with a family or if you're a solo traveler, whether you're traveling with a pet,
02:32 it will be able to hone in and really give you great guidance and search results based on what's important to you.
02:39 And so AI will play a role there.
02:41 It will certainly play a role in helping you navigate sticky situations.
02:44 And eventually, we'll be able to do all the work for you when it comes to rebooking a flight for you,
02:49 whether it's finding an option, a travel destination for you that's new and unknown.
02:55 It really can impact all facets of the travel experience.
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