Ritesh Aggarwal, the chief co-founder and Chief Executive Officer (CEO) of Oyo, says that there are some big things such as the pre-check-in process, which Oyo is focusing. Aggarwal says that Artificial Intelligence (AI) has the ability to significantly help the hospitality industry. According to PTI news, in a session of Mumbai Tech Week, Aggarwal said that there should be no place for fear or ego before entering business as they are the biggest enemies of entrepreneurship success.
AI in Hospitality
According to the news, in response to a question about adopting artificial intelligence in hospitality, he said that our business was mainly based on dynamic pricing. Now, it was not designed on models that are being used by today’s AI world, as we started our business 7-8 years ago. If the company had not used dynamic pricing, their brand would not have been like today.
Better use of AI before coming to the hotel
Aggarwal said that we make more than 75 or 70 bookings from America, Europe, South-East, Asia, Middle East and other markets. This is because we can sit in India and design dynamic pricing and can use it better before they come to the hotel. He said that a lot of data science and AI are used to match the right places, promote dynamic pricing, which is a number of billions of dollars of industry in itself. But there are some large, which is pre-checking, on which we are focusing.
The CEO of Oyo said that after all, we will start from the front office and ensure that you do not need any human to check the front office, you have someone who can only serve you, but all efforts to reduce the experience and cost in the room can be done through machines.
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