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Corporate Travel Industry Must Embrace Emerging Technology to Remain Competitive and Accelerate Growth According to New Research
The time for technology to transform, disrupt and accelerate business travel growth is here according to a new study, “The Future is Now: Technological Transformation in Corporate Travel,” released today by GBTA and made possible by Cvent.
The report outlines the importance of technology in the business travel industry as a disruptor and enabler with artificial intelligence and blockchain at the top of the emerging technology list. Based on a survey of business travel professionals in North America and Europe, top highlights in the report include:
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88% of travel management company respondents, 74% of suppliers and 59% of travel buyers feel their organization does a good job with technology and a significant opportunity exists in integrating advanced technologies, such as artificial intelligence (AI) and blockchain.
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75% of travel buyers are interested in adopting an AI-powered travel program chatbot to automatically answer questions specifically about their program.
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Half of buyers are interested in offering blockchain-based booking (51%) or payment (49%).
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29% of travel programs now have a full-time employee who focuses primarily on tech-related responsibilities.
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Travel buyers estimate 18% of their travel program’s overall budget is spent on technology, with 36% expecting their technology spending to grow this year.
Read the full announcement here.
GBTA members can access the report here. It can also be downloaded on the Cvent website.
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