Why Quantum Computing Could Be The Future Of The Hospitality Industry
Industries of all kinds are benefitting from quantum computing, and the hospitality sector is no exception. The driving factors for the integration of this kind of technology are largely down to customer experience and revenue improvement, but also operational efficiency and sustainable growth.
Quantum In Action
One major application of quantum technology is improving data analytics. Hospitality is built on customer experience and satisfaction; knowing what drives and retains numbers is a key ingredient for a successful business. Typically it can be time-consuming, but thanks to quantum computing, businesses are capable of analysing large amounts of data and information far quicker than they could when relying on classical computers.
As well as knowing what makes customers tick, quantum computing can go one step further and make predictions based on the analysis of the collected data. This is incredibly valuable as businesses can tailor aspects such as pricing, by basing them on statistical forecasts. These applications can help to create a more personalised - and therefore better - experience for the customer.
AI Applications
Quantum computing has also been used to improve AI applications, which in turn can hugely benefit the hospitality industry. In a recent report, IDC, the International Data Corporation, predicted that by 2023, 25% of hospitality operators will accelerate intelligence capabilities by acquiring AI start-ups to build data delivery platforms for personalization, increasing customer loyalty by 15%. Furthermore, IDC also forecast that by 2025, 95% of hospitality and travel operators will embed AI into inventory processes to secure supply chain integrity with predictive intelligence, improving efficiencies by 30% while also reducing costs by 25%.
"Hotel, travel, and foodservice brands are becoming increasingly bullish on AI strategies, with the majority either already utilising or planning to implement AI applications to improve operations," said Dorothy Creamer, research manager, Hospitality and Travel Digital Transformation Strategies, IDC.
AI and machine learning have both been widely used to automate mundane and repetitive tasks through Robotic Process Automation (RPA). This in turn has helped businesses within the hospitality sector to streamline their workloads, leading to boosted profits and increased efficiency.
Another application of AI is through virtual assistants, i.e. chatbots. By eliminating the need for call centres, chatbots can offer customers a hyper-personalised self-service. Infosys reported that 68% of airlines and 42% of airports plan to implement AI-based intelligent chatbot services in the near future.
Industry Under Attack
But like every other sector, the hospitality industry hasn’t been exempt from the wave of cyber attacks reported in recent years. The international hotel chain Marriott was hit with a series of attacks - with the most recent occurring at the BWI Airport Marriott in Baltimore, in the US. Fortunately, the hacker was unable to gain access to the hotel’s core network, and the stolen files were primarily of a non-sensitive nature. However, approximately 400 people had to be notified, due to 20GB of confidential documents and customer payment information being unlawfully obtained.
How can the hospitality industry reduce - and perhaps even eradicate - these types of attacks? The team at Arqit have developed an innovative solution, QuantumCloud. The solution integrates quantum technologies designed for the cloud era, and provides efficient and reliable security, as well as stronger and simpler encryption. Given that nearly a third of hospitality businesses have suffered a breach, it’s vital for the industry to step up its security.
Although quantum technology has only been around for a short space of time, the hospitality industry is already starting to reap the benefits of it. And with the industry predicted to face a boost in the near future, now is the perfect time for businesses to jump on board the quantum wagon.