2024 was a milestone year for the travel industry as volumes and traffic finally surprised pre-pandemic levels from 2019. 2024 was also a banner year for business and corporate travel with a record $1.5 trillion expected to be spent on business related trips. The outlook for 2025 continues to be positive as in-person meetings and client visits take center stage in the face of dicey global economics. With the increase in business travel, businesses are searching for ways to control ever increasing travel costs and manage the complexities of corporate trip planning. Artificial Intelligence and Machine Learning technology has taken the travel industry by storm and is seeing rapid and deep adoption within many facets of the business. In business travel, AI is set to deliver significant time and cost saving benefits as well as creating conveniences and improving management scope of corporate trips.
Assistive Technology Creates Efficiencies
Planning and researching travel for leisure purposes is something that most people would look forward to but organizing business related travel is a time consuming and arduous task that can frustrate even the most tenured travel planners. Organizations with multiple business trips on the go adds to the stresses of corporate travel planning. AI technology can play a valuable assistive role in business travel planning with its high level of plain language comprehension and powerful search and analytical features. Simple voice and typed commands can direct ‘concierge’ like services to research transportation and accommodation needs that best suit the business traveler and company travel mandate. AI based technology can provide complete end to end travel planning services, including purchasing and confirmation of reservations as well as providing in house travel itineraries and reminders so that business travelers make best use of their time while on trip. AI based technology can also handle complex, multi stop itineraries and assist with reserving meeting spaces and schedule planning for group type business trips. Business travel planners can benefit from the capabilities of AI platforms through substantial time savings and improved accuracy and efficiency of trips.
Managing the Back End of Travel Expenses
AI based technologies can be optimized to manage travel outside of planning and researching. Travel costs for businesses can easily spiral upwards if left unchecked and machine learning solutions can provide management and control functions that can help mitigate increasing transportation and accommodation costs. Expense platforms that are vertically integrated into planning technology can provide real time cost reporting of business trips, broken down to the smallest charge if needed. The advanced analytical abilities of AI systems can research vast amounts of data points and provide strategies for more practical and economical windows of travel. From customizable, real time expense reporting to forward looking strategies, AI technology can deliver significant cost and time saving benefits by managing and monitoring the back end of business travel.
Assistance on the Road
AI and machine learning platforms can provide extended benefits and conveniences during business travel as well. Mobile applications with integrated systems can keep business travelers connected and informed and offer support during any part of the trip. Localized information such as addresses, navigation, customs and even minor language translations can easily be accessed through AI based mobile apps. Fast and accurate requests can be made while on the go and will keep useful information at the business traveler’s fingertips any time of the day. Travel expense tracking can also be monitored while on the go with real time, running totals displayed for anytime reference. AI based mobile apps can assist in ensuring business trips are successful and trouble free.
Machine Learning and Business Travel
As business travel continues to ramp up, so does the demand for efficiencies in planning complex business and corporate travel. AI and Machine Learning technology has already seen successful applications across most facets of the travel industry and deliver benefits and conveniences to both travel businesses and travel consumers. AI capabilities can deliver important functionality to streamline and simplify the business travel planning process. Complex itineraries, business meeting spaces, accommodations and transportation needs can easily be planned and reserved with assistive ‘concierge like’ technology. AI technology can also assist in travel expense management by offering strategies and suggestions for more practical ways to execute travel needs. AI and machine learning technology has a place in business travel and can create valuable conveniences that can save time and money, a priority for all businesses in 2025.
