Every business will need to become an AI forward business, says GlobalData. Credit: dotshock/shutterstock

Luxury hotel group, Warwick Hotels and Resorts, has partnered with hospitality AI app Quicktext to elevate guest experience. 

Quicktext’s Velma AI chatbot will be used by Warwick Hotels and Resorts to help meet guest expectations more efficiently, creating streamlined communication between hotel staff and guests. 

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Quicktext stated that its Velma AI chatbot is a hybrid of generative AI and conversational AI technology. 

Velma is able to provide sales solutions for hotels, structure a hotel’s data and then supply this structured data to the hotel for business intelligence. 

By using Velma, Quicktext stated that hotels can increase their direct online revenue by at least 11%. 

Research and analysis company GlobalData forecasts the total AI market to be worth $909bn by 2030, with generative AI leading the technology’s growth. 

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According to GlobalData, 2024 will see an exponential rise in AI’s rollout within the corporate world, particularly disrupting customer experience and marketing. 

A 2024 survey conducted by GlobalData reported that 58% of businesses across industries felt that AI was already disrupting their work. A further 13% anticipated that AI would begin to disrupt their business in the next 12 months. 

As generative AI’s outputs continue to become more accurate and realistic, AI chatbots will become more mainstream as businesses across industries seek to improve their customers’ experience. 

However, as AI rollout continues GlobalData predicts that custom, smaller LLMs (large language models) could overtake bigger chatbots. 

Tasks such as customer relationship management are better suited to smaller language models, according to GlobalData’s research. 

In its 2023 executive briefing on AI, GlobalData advises that every business will need to become an AI focused business by 2024.