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Staying Ahead of the Next Hospitality Technology Disruption

Mar 2017/in , /by

It was 2008 when Airbnb caused an industry-wide double take. Suddenly, technology was disrupting how and where people were booking hotels. Hotel companies navigated the change – by targeting business travelers, redesigning loyalty programs, and, for some, partnering with Airbnb. In a true “if you can’t beat them, join them” move, small hotels list their rooms on Airbnb for a lower reservation fee than traditional hotel listing services. In return, some hotels provide check-in services and amenities for certain Airbnb properties. Now, hospitality companies aren’t taking any chances that technology could disrupt practices beyond bookings. To avoid being surprised again, hospitality companies are incorporating technology on their own and in response to “nearly two-thirds of U.S. guests stating it was “very or extremely important” for hotels to continue investing in technology to enhance the guest experience.” These hospitality technologies range through the top tech trends of the moment.

Not unlike Airbnb, hotel companies are discovering the advantages of a new, mobile-first society, as depicted in StayNTouch’s ebook, How Mobile Technology Will Generate More Revenue for Your Hotel. Many hotel companies apply a hospitality technology, cloud Property Management Systems (PMS) solutions, to automatically offer room upgrades, promote amenities, and provide greater services like early and late check in and out options. This same solution can gather customer knowledge in real-time on arrival time and guest preferences to best manage housekeeping and customer service. The interconnected processes ultimately improve room turnover along with brand loyalty.

Woman wearing an Ocean Medallion wearable hospitality technologyHospitality Technology image from Cruise Critic

Let’s look at three transformative technologies that the hospitality industry is jumping on: wearables, virtual reality, and artificial intelligence.

1. Wearable Technology Cruising

Following top tech trends, hospitality companies are introducing wearable technology into their offerings. Most commonly, these high technology hospitality companies turn to smart watches that can deliver dynamic guest details in real-time including dining preferences, food allergies, and spending histories. Royal Caribbean Cruises offers smartbands on certain high-end ships that act as room keys, wireless payment methods, and tickets. In response, Carnival Cruises introduced a credit card-connected Ocean Medallion, able to be worn in multiple ways including like a watch as pictured above, that will offer similar capabilities to Royal’s watches but will also power a future, ship-wide gambling platform. The hospitality technology that is the Ocean Medallion utilizes an IoT network of sensors and computing devices along with NFC and Bluetooth communication capabilities throughout the ships and ports. The Journal of Hospitality and Tourism Management stated that, “wearable devices will transform consumers from tourists to explorers.” From the company side, wearable devices provide data and access to customers that enhance offerings to stay competitive in new ways.

“Leading hotel companies are … lever­aging advances in data analytics and artificial intelligence (AI) technologies to increase online reservations, im­prove the return on advertising spend (ROAS), better understand guest pref­erences, and build stronger customer relationships,” according to global analyst firm EY

2. Artificial Intelligence Assistance

In terms of artificial intelligence, Ivy from Go Moment is an IBM Watson-driven system designed to handle guest requests. The cognitive technology can interpret questions to fulfill requests and converse with you by phone. Other AIs take a more dramatic, tangible form in robots. Also powered by IBM Watson, Hilton introduced Connie the concierge in one of their Virginia hotels last year. Connie informs guests on local attractions, hotel features, amenities, and can make recommendations for dining and activities.

3. Virtual Reality Hotel Experience

77% of U.S. consumers are interested in virtual reality (VR) equipment right now, as reported by the Consumer Technology Association. The hotel industry is quickly taking this into account and working to incorporate VR as a hospitality technology. Marriot Hotels & Resorts collaborated with Samsung in 2015 for a virtual reality hotel room experience offering titled VRoom Service that received a headset and headphones. Best Western Hotels & Resorts leveraged a VR experience that allows guests to immerse themselves in the hotels before their stay.

 

Ultimately, these heightened experiences through technology enable hospitality companies to charge higher prices, create up-sell opportunities at each point of the customers’ journey, and stay ahead of the next potential disruption, all the while delighting their customers.

This blog is part of an Industry & Market Series –  analyzing what FirstRain users are tracking at the moment in order to gain advantage for the moment.

car tires

Autonomous Cars That Drive Us Together

Jan 2017/in , , , /by

Few things indicate an industrial revolution better than a controversial topic that ironically becomes a unifying factor. The biggest, boldest, headlines shout that 3 in 4 Americans are afraid to drive in an autonomous car, Uber and the DMV are head to head, and the autonomous car industry has the potential to eliminate jobs in up to 128 industries. However, other headlines have written a different story. From companies to technology to cars themselves, the Autonomous Car market is driving us all into a new, collaborative future.

Considered an initial stretch on the roadway to fully autonomous cars, V2V technology, vehicle-to-vehicle, is a wireless network enabling cars to converse with each other. At the next level, the technology would extend to V2I, vehicle-to-infrastructure, enabling cars and say, stoplights, to communicate as well. Consider a future city that is completely connected, from autonomous cars to smart buildings.

Collaboration is not just in the future. Even now, auto manufacturers and car service companies are establishing surprising relationships in order to win this grounded version of the “race to space”. Industry giant General Motors has reached out to carpool service application, Lyft, to test self-driving taxis. Alphabet, Google parent and Autonomous Car technology leader, may now be an Autonomous Car social leader as well in its car project, Waymo. The company already paired with Chrysler Pacifica minivans and is now in talks with Honda on accommodating Waymo’s self-driving technology in an upcoming model – a significant change from Google’s small, bubble cars I pass on our Bay Area roads. In a recent development, Audi and Nvidia have united over autonomous cars.

firstreads

Those large companies seeking committed relationships, are resulting in start-up acquisitions at every turn:

  • GM spent $1billion on Cruise Automation for their self-driving technology
  • Uber spent $680 million on Otto for their self-driving truck
  • In the second biggest tech acquisition in history, Qualcomm spent $39 billion to takeover NXP Semiconductors for a path to make chips for autonomous cars

Why do Autonomous Cars drive such cooperation? Maybe it is the cars’ origin – a unique world of technological cooperation. Founder of Comma.ai and iPhone unlocking, 26-year old George Hotz, has published open-source software and hardware driving agents in an effort to “become the Android of self-driving cars”. Consistent with this approach, Linux has devoted a foundation project to the mission of “creating open source software solutions for automotive applications.” The project, Automotive Grade Linux, or simply AGL, recently released the most advanced version of its platform yet. The AGL community is made up of nearly 90 companies with an impressive roster of Ford, Honda, Toyota, and more.

“This unprecedented level of collaboration is a clear indication that the automotive industry is adopting an open source development methodology that is resulting in faster innovation with more frequent software releases and new features.”

Dan Cauchy
Executive Director, Automotive Grade Linux

Maybe you’re not a fan of jumping on bandwagons. But with expectations of 21 million autonomous vehicles sold globally by 2035, it might be time for all of us to take a seat in any wagon pulled by the Autonomous Car.

 

This blog is part of an Industry & Market Series –  analyzing what FirstRain users are tracking at the moment in order to gain advantage for the moment.

manatees

An Internet for Our World, Not Just Our Things

Dec 2016/in , , /by

Across the globe, big data and IoT are revolutionizing Conservation efforts.

A concept first named in 1985, the Internet of Things (IoT) is undergoing a modern revival thanks to advances in big data, machine learning, and artificial intelligence. As consumers rush towards the benefits of wearable technology and smart house applications, a handful of revolutionary thinkers are applying the technology to benefitting our earth.

 

smart city

Smart Cities
30% of U.S. greenhouse gas emissions in 2014 came from electricity and heat production. In reaction, cities are incorporating climate change, resilience, and sustainability goals into their smart city aspirations. By 2020, half of all smart city objectives will include these concerns, as reported by @Gartner. Part of the smart city movement, Atlanta, Georgia has already begun incorporating sustainability into its city grid.

A smart cities innovator, Ingenu recently announced an Atlanta project. The Atlanta Machine Network intends, as stated by Peter Murray of @Dense Networks, to connect and monitor “everything from street lighting, traffic signals and parking” in an effort to reduce energy and water usage city-wide.

 

manatees

Conservation of Marine Mammals
Marine residents of the Indo-West Pacific waters, dugongs are threatened by “local fishing, destruction of habitat and illegal hunting” rendering them vulnerable for extinction. To help, IoT cloud provider, @Kii, has been supporting @Smart Earth Networks (SEN) and @Community Centered Conservation (C3) in a “citizen science” conservation project in the Busuanga region of the Philippines. The project equipped fishermen with basic smartphones, provided by local company @Cherry Mobile, enabling them to take photos when they spot the vulnerable marine mammals. Photos are uploaded via SEN’s app to Kii’s cloud, indicating dugong location through GPS. This allows C3 to map and evaluate the local dugong population for future, actionable, protection recommendations.

Close relatives of the dugong, manatees are also at risk. A project started in November, applies AI technology to manatee conservation efforts. Owned by @Google, AI protocol @TensorFlow is being taught with the aid of machine learning to spot manatees in aerial drone-produced photos. The ability would save hours of researchers’ time and lead to quicker, more frequent conservation efforts.

 Tree_lion

Anti-Poaching Efforts

Most threatened species, including the manatees and dugongs, lose a large number to poaching. AI platform, @Avata, is being applied to anti-poaching efforts in Uganda. AI learns poacher behavior and how to arrange effective security patrols so wildlife rangers can stay a step ahead of poachers.

 

lights

Self-Awareness

Though IoT, AI, and big data are becoming extraordinary tools for environmental efforts, they are innately part of the problem. In the U.S. alone, data center electricity consumption is expected to reach an annual 140 billion kilowatt-hours by 2020, equivalent to an annual 100 million metric tons of carbon pollution. Fortunately, many of these companies are working towards self-improvement.

For example, with data centers accounting for 6.9% of all energy consumption in Singapore, active data companies are applying environmentally friendly practices:

  • A modular approach to data centers that utilizes just-in-time principles
  • Waste reduction through adoption of renewable energy sources
  • Alternate cooling techniques such as reclaimed water

In America, @GE and @Intel combined their respective offerings, Predix and gateway technologies, to create intelligent lighting – a networked lighting system that aims to improve efficiency. Each have applied the system to their own infrastructures including GE’s factory, Intel’s Arizona plant, and, soon, at Intel HQ in Santa Clara.
 The Market
Through IoT, it is thought that information technologies can reduce carbon dioxide emissions globally by 20%. With major companies entering the IoT market, the percentage may be even greater. From telecommunications companies like Verizon to platform providers like Salesforce to IBM, companies across the board are making moves into IoT.*

*Entry moves provided by FirstRain market analytics

 

This blog is part of an Industry & Market Series –  analyzing what FirstRain users are tracking at the moment in order to gain advantage for the moment.

Lock

Is Cyber Security the hottest market of the moment?

Nov 2016/in , , , , /by

You’ve heard about the recent cyber attacks. Everyone has. Now, everyone is questioning his or her own cyber security status. Take a look at today’s trending business Cyber Security terms, provided by FirstRain.

Screen Shot 2016-11-14 at 10.36.04 AM As we think over what we can do to make ourselves more secure, vendors in the space are thinking about market opportunities. Playing on current consumer awareness, Aerohive Networks announced their new solution that they claim could have prevented the recent events. Even start-ups are getting noticed by addressing the trend. Circle, a mobile payment application, was quick to reassure consumers on the safety of mobile commerce.

More than just an awareness opportunity, top companies are tackling major business opportunities in the industry, as indicated by FirstRain’s exploration map below. IBM’s recent news release announced that their security division is releasing a cyber security offering to protect banking customers. With finance being the main concern, Visa and Intel announced a collaboration agreement to create better payment security for connected devices, ranging from personal computers to wearable technologies. The companies assign the rising Cyber Security opportunities to the rise of the Internet of Things (IoT) market. Echoing this, Microsoft plans to release a security program for its own IoT service, Azure.

Screen Shot 2016-11-14 at 10.37.56 AM
Other signs that the Cyber Security Industry is the hot market of the moment include the spike in acquisitions made by major corporations of cyber security companies. Recently, Samsung Electronics announced it will be acquiring start-up enterprise software company, Tachyon Mobility to “build up their cyber security businesses with acquisitions.”

Screen Shot 2016-11-14 at 10.53.26 AM

With Cyber Security heating up, this might lead to the security breakthrough, so to speak, that we need. Author and CIO, Tim Elkins states that “security isn’t an IT problem; it’s a business problem.” If so, IT might just start to receive the attention, budget, and opportunity to transform the industry. However, regardless if you are a vendor or a buyer, in tech or retail, following movements in Cyber Security is essential to business success. In other words, always be prepared because it just makes good sense.

 

This blog is part of an Industry & Market Series –  analyzing what FirstRain users are tracking at the moment in order to gain advantage for the moment.

 

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