Noodle.ai, an artificial intelligence software application company, has ranked several leading hotel companies based on AI adoption vs. stock value.
The CEO of Noodle.ai, Stephen Pratt, highlighted three requirements for excellent performance with AI including understanding AI analytics, big data and supercomputing technology.
In this case, the company assessed the skills sets of company executives among other individuals in the organizations to categorize of each organization. Noodle.ai also looked at aspects such as public statements.
Pratt acknowledged organizations that fell in the top right corner for figuring out how to use AI in promoting their entire business.
In this case, he looked at Expedia, an analytics-driven entity that mostly uses data to ensure that it not only runs the company better but also serves its customers better.
Likewise, Choice Hotels International has taken advantage of back-office technology, especially through its SkyTouch property management system.
According to the company’s CEO, Patrick Pacious, Choice Hotel International is also redesigning its data analytics platform.
Conversely, companies appearing on the right but below the dotted diagonal line on Noodle .ai’s chart possess raw horsepower.
Pratt added that any AI initiatives by companies in this category are not likely to reflect on the performance results since they are too new. He also said that companies on the lower-left corner are way behind.
Pratt mentioned some of the effort made by certain companies to boost their business. As such, he said that most companies are into flashy things such as the use of robots in the entryway to the lobby.
Other companies are adopting ideas, which Noodle. ai does not agree with, such as chatbots for their company websites, as they are too costly and usually fail to yield the desired results.
Nonetheless, Pratt acknowledged the real revolution to be in internal operations, which involves questions like what data are you using to make inventory, staffing, or pricing decisions?
As far as AI power is concerned, Pratt cited that the hotel industry is significantly behind the financial services industry but just slightly behind the airline industry.
He attributed this lag to a major mistake by hotels, which is confusing Big Data with analytics.
For this reason, most hotels will opt to complete their data management projects before entertaining the thought of analytics.
Noodle. ai was founded in 2016. It offers enterprise AI for sophisticated businesses. According to Pratt, XOJet is one of the leading company’s clients.