Use of AI and Blockchain in Hospitality Industry
1. Blockchain in the Hospitality Industry
One of the best technologies that were invented recently is Blockchain. Through the facility of blockchain, many businesses have found better ways to carry out a financial transaction, store specific data securely, and utilize the information transparently. For the hospitality industry, blockchain technology has been proven miraculous.
For the people that don’t have much knowledge about blockchain, it's a technology during which records are maintained digitally, permanently, and anonymously. Cryptography, a technique which is also known as high-security encryption is applied to the records (blocks) before saving them. In the blockchain, data can not be changed or edited. That means, no modifications allowed.
One can not simply modify, alter, or manipulate the information stored in blockchain because it is a decentralized system. That means, one instance of data is stored in a number of places. It is not hidden, it’s transparent. And any changes to the record are shared over a network. It improves security and makes the data less prone to failure.
In the hotel industry, security is usually a top concern. While the safety of crucial data is completely ensured in blockchain, it becomes an unavoidable technology for the hospitality industry. Hotels can accept digital currencies such as bitcoin, dogecoin, ethereum, and many more during the transaction process without worrying about security.
Another use of blockchain within the hospitality industry is biometric identification. Hotels are the places where strangers appear the foremost . For the security of its assets and other passengers, it becomes utterly important to identify a visitor’s details flawlessly. With the blockchain, the identification process through fingerprint or bar code becomes easy. SITSL has been active in blockchain development since 2019.
2. AI in the Hospitality Industry
In the hospitality industry delivering a visitor, in-person customer service holds a shining significance. During the past few years, we have witnessed that AI-powered robots and other intelligent machines are being developed on a large scale that possesses abilities to interact with humans. Now, may competent AI application development companies are rolling out new invention every day.
Another application of artificial intelligence we have seen in the hospitality industry is using messaging platforms that are powered by semi or fully-automated, human interaction software called chatbots. These bots are specifically designed to know the queries of a customer and supply an appropriate response.
Without any doubts, it's utterly tough to completely understand the smalls and bigs of the blockchain technology within the first instance. At the beginning , it's going to seem fearful, but as you start to urge more and more familiar thereto, the grasping of basics and therefore the alternative ways to use it for hospitality and other industry will appear more convenient.