Welcome to our on-going series of webinars on business travel. If you have any:
Please let us know at – LetsTalk@cerebriai.com
The discussion focused on how AI and machine learning are being utilized to solve data analytic problems in the travel industry. Jean, from Cerebri AI, explained how AI can help personalize predictions for individual travellers and teams, leading to better budgeting and decision-making. Brian emphasized the importance of data accuracy and the potential for AI to save travel programs 2-5% of their budget. The panellists highlighted the resilience and importance of business travel post-pandemic and the need for accurate travel data to make informed decisions. Overall, the future of travel, AI, and data analytics looks promising for improving travel programs and increasing employee satisfaction.
The webinar revolves around the challenges and benefits of implementing AI in various industries, particularly in the travel sector. The panelists address issues such as the resistance to AI adoption, the potential for job displacement, and the importance of managing bias in AI systems. They also discuss strategies for maximizing the benefits of AI while minimizing its potential drawbacks. Overall, the webinar emphasizes the importance of embracing technological advancements while ensuring that they are implemented thoughtfully and ethically.
The webinar focused on the use of data in business travel and meetings. The panel discussed the challenges and importance of consolidating and trusting data in travel management, emphasizing the need for clean and reliable data. They also explored the potential of including finance data in travel spend and shared examples of how data analysis led to significant savings for their clients. The conversation concluded with Fernando sharing his experiences and thoughts on data management and transparency from his time at Tesla.
The webinar focused on the issue of travel program leakage, with speakers Steve, Maryellen, and Jennifer sharing their experiences and insights. They defined leakage as bookings made outside of their managed travel program and identified challenges such as tracking duty of care in last-minute bookings and the importance of open communication with travelers. The meeting primarily focused on the challenges and solutions related to travel program leakage and non-compliance, emphasizing the need for better tools to manage the program effectively.
IATA forecasts that 4.7 billion people will take to the air in 2014. The pandemic is over. The airlines are expected to generate $23.3 billion in profit. When you translate this, it works out to roughly $5.00 / passenger, not enough to buy you a Big Mac at McDonald's. No wonder airlines are trying to increase margins.
One way to increase profits is to adopt more modern technology as fast as practical. One surefire place to start is in replacing the 40-year-old tech stack used to supply business travelers with airfares & related content. Replacing EDIFACT with NDC is being pushed hard by American Airlines. Managed travel programs have to adapt, the die is cast. Now what?
Instead of looking at the problems NDC is causing in the short term, our super panel will look into the future and assess where they think this will all land. At stake is a very substantial portion of the $1.4 trillion business is expected to spend on business travel & meetings in 2024.
Corporate travel managers are dealing with a multitude of important issues today, including escalating air and hotel expenses globally due to supply constraints and inflation.
However, the biggest disruption certainly has to be the advent of NDC airfares before the industry is apparently ready to move from EDIFACT. TMCs and GDS not ready across the Our great panel in our last webinar on March 27 on the future of NDC airfares was very encouraged by what NDC can bring to the table in terms of benefits.? Multiple direct connections to airlines? Global coverage? More problems than answers.Transition issues aside, the advent of NDC airfares is welcomed for a variety of reasons.
Our great panel in our webinar on March 27 on the future of NDC airfares was very encouraged by what NDC can bring to the table in terms of benefits for managed travel. One panelist judged the 40-year-old EDIFACT architecture to be 10-15 years past its sell-by date, NDC being a major move forward whose time had come.
In the meantime, how do travel programs of all sizes cope with the move to NDC?
This webinar will outline concrete suggestions and tips on how to manage this critical transition.
The pressure to reduce CO2 and other greenhouse gas emissions has never been greater. The current regulatory environment globally expects everyone to move to NetZero by 2050. The travel industry, in particular, is extremely vulnerable to seeing the cost of travel escalate due to new fees and an increasing regulatory burden.
What’s the problem with travel in reducing CO2 emissions, especially in air travel?Jet fuel is a wonder product with a super attractive weight-to-power ratio. It can deliver 14x more power than current battery technology for the same weight. And the longer you fly, the more fuel you burn. CO2 emissions from air travel account for 70% to 90% of emissions for an average business trip.
The increased cost of travel will come from governments mandating the use of SAF which is currently 2-4x more expensive than jet fuel at most airports. Fees are being added to heavily taxed airfares, with Singapore recently adding fees for sustainable aviation fuels. In the European Union, airlines are expected to pay up to $3 billion in allowances under the EU-ETS system for flights within the EU as they lose their free ETS allowances over the next 24 months.
We address what national governments are doing in terms of domestic aviation, the impact of ICAO’s CORSIA program on international flights, and how the industry is reacting to these events.
Business travel is booming - GBTA estimates $1.4 trillion in 2024.However, C-suite executives are more skeptical than ever about the value of travel. During the pandemic, some companies saw revenues climb while travel expenses were reduced by, in some cases, hundreds of millions of dollars annually.
Business travel is more than just sales; it involves seeing customers, marketing events, trade shows, seminars, internal meetings, etc. There are many reasons for business travel, including onboarding new employees, collaboration to enhance the possible discovery of new, more productive ways to carry on business, and many more.
This has led to a lot of questions about the value of travel.
The obvious answer is that we need to begin a more systematic measurement of the return on investment ( “ROI” ) from business travel. Taking the most straightforward case — sales and marketing—these teams travel for a purpose—to stay close to customers and prospects to increase overall revenues. Increasing revenue is the ROI from sales and marketing travel. But is every meeting necessary? How many people should attend conferences, especially when dealing with long distances and significant expenses for each trip?
We will address these issues and propose possible solutions with our distinguished panel.
Nov 9, 2023
Up-coming
The discussion focused on how AI and machine learning are being utilized to solve data analytic problems in the travel industry. Jean, from Cerebri AI, explained how AI can help personalize predictions for individual travellers and teams, leading to better budgeting and decision-making. Brian emphasized the importance of data accuracy and the potential for AI to save travel programs 2-5% of their budget. The panellists highlighted the resilience and importance of business travel post-pandemic and the need for accurate travel data to make informed decisions. Overall, the future of travel, AI, and data analytics looks promising for improving travel programs and increasing employee satisfaction.
Dec 6, 2023
Up-coming
The webinar revolves around the challenges and benefits of implementing AI in various industries, particularly in the travel sector. The panelists address issues such as the resistance to AI adoption, the potential for job displacement, and the importance of managing bias in AI systems. They also discuss strategies for maximizing the benefits of AI while minimizing its potential drawbacks. Overall, the webinar emphasizes the importance of embracing technological advancements while ensuring that they are implemented thoughtfully and ethically.
Feb 21, 2024
Up-coming
The webinar focused on the use of data in business travel and meetings. The panel discussed the challenges and importance of consolidating and trusting data in travel management, emphasizing the need for clean and reliable data. They also explored the potential of including finance data in travel spend and shared examples of how data analysis led to significant savings for their clients. The conversation concluded with Fernando sharing his experiences and thoughts on data management and transparency from his time at Tesla.
Mar 6, 2024
Up-coming
The webinar focused on the issue of travel program leakage, with speakers Steve, Maryellen, and Jennifer sharing their experiences and insights. They defined leakage as bookings made outside of their managed travel program and identified challenges such as tracking duty of care in last-minute bookings and the importance of open communication with travelers. The meeting primarily focused on the challenges and solutions related to travel program leakage and non-compliance, emphasizing the need for better tools to manage the program effectively.