Transforming Trade Show/Event Experiences with AI: Introducing “Koo”

The CSL Project Course is part of the Corporate Startup Lab at Carnegie Mellon University’s Swartz Center for Entrepreneurship

Introduction:

Every year, millions of professionals attend trade shows seeking networking opportunities, knowledge, and business prospects. While these events are pivotal for professional growth and business expansion, they often come with a set of challenges that can diminish the experience. Navigating sprawling event spaces, managing tight schedules, and making meaningful connections amidst the chaos are just a few hurdles attendees face.

Recognizing these pain points, a groundbreaking solution has emerged from the Corporate Startup Lab’s Spring 2024 99P Labs team — an AI-based Attendee Assistant tailored for large trade shows and events.

Before jumping right into this, here’s a brief team intro:

The team had people from different schools and programs at Carnegie Mellon University. Each one of us brought very different skill sets on the table, from design to management to business sense.

Now, let’s understand the problem, solution, market and future implications of our solution.

The Challenges of Trade Shows:

Trade shows are complex events that test the limits of human organizational skills. Attendees often struggle with:

1. Navigation: Finding one’s way through extensive and often crowded event spaces can be daunting, leading to missed opportunities and frustration.
2. Scheduling: With back-to-back sessions, meetings, and exhibits, creating an efficient itinerary that maximizes time at the event is a logistical nightmare.
3. Networking: Identifying and connecting with the right people in a sea of thousands can be like finding a needle in a haystack.
4. Information Overload: Attendees are bombarded with information, making it difficult to capture and synthesize valuable insights on the go.

These challenges can make or break the trade show experience. In response, Koo promises not only to mitigate these issues but to enhance the overall experience, using a suite of AI-driven tools designed to make trade shows more enjoyable and productive.

The Solution:

Koo — Our AI based Trade Show Attendee Solution

Koo is not just a digital assistant; it’s a comprehensive solution designed to transform the trade show experience. Here’s how Koo addresses each of the major challenges faced by attendees:

1. Personalized Itineraries: Koo uses advanced algorithms to generate customized itineraries tailored to each attendee’s preferences and goals. The schedules adapt dynamically based on feedback and real-time event changes. Attendees receive a tailored schedule that dynamically adjusts to their feedback and changes in event dynamics.
2. Dynamic Indoor Navigation: Leveraging cutting-edge technologies, Koo provides indoor navigation capabilities that guide attendees seamlessly through complex event venues, helping them get to sessions on time without getting lost, thus saving time and reducing stress.
3. Efficient Information Management: Koo can capture, synthesize, and store information from various sources, enabling attendees to focus on the event experience while Koo handles note-taking and insight generation. This ensures that attendees can focus on their event experience while Koo handles the task of note-taking and information storage, providing summaries and actionable insights when needed.
4. Enhanced Networking: Through its sophisticated AI algorithms, Koo can identify potential business contacts and facilitate connections based on mutual interests and relevant business opportunities, facilitating valuable connections among attendees.

By integrating these features, Koo provides a seamless and enriched experience for all attendees. It ensures that each participant can focus on what they came for — connecting with people, learning new things, and discovering opportunities — without the usual logistical headaches. Koo not only optimizes the personal journey throughout the event but also enhances the quality of interactions and the efficiency of information absorption.

Aligning with User Needs: The Key to Koo’s Potential Success

Koo’s impressive functionalities are underpinned by cutting-edge artificial intelligence and machine learning technologies tailored for large-scale events. However, the true key to its potential success lies in addressing the real needs and pain points expressed by attendees and exhibitors during our extensive user research.

Our potential users say…

8/9 wanted tailored suggestions for their itinerary

9/9 desired a more streamlined networking experience

9/9 valued enhanced information collection tools

7/9 emphasized the need for an in-door navigation assistant

Based on interviews with event attendees and exhibitors, here are some key insights that have shaped the development of Koo:

Discoverability and Awareness:

Users typically learn about trade shows through work, marketing, publications, and word of mouth. Integrating with existing event platforms could increase Koo’s visibility among potential users.

Pre-Event Planning:

Attendees engage in varying levels of pre-event preparation like reviewing schedules and floor plans. Providing intuitive planning tools could drive adoption of Koo’s services.

Navigation Woes:

Indoor navigation at large venues is a consistent challenge. Users are open to leveraging digital aids like interactive maps and virtual tours to ease wayfinding.

Information Overload:

Collecting, organizing, and retaining information from exhibitors, sessions, and networking is an overwhelming process. A centralized platform for note-taking and contact management could significantly enhance the attendee experience.

Facilitating Connections:

Networking is a primary motivation for many attendees. Personalized matching based on interests and goals could make Koo an indispensable companion.

Compatibility Considerations:

While users seek integrated solutions, they may be hesitant to replace existing event apps. Complementing or integrating with established platforms could alleviate adoption concerns.

Through integrating advanced AI capabilities with genuine user needs, Koo is uniquely positioned to revolutionize the trade show experience for attendees and exhibitors alike.

Navigating the Competitive Landscape

The market for event management technology is populated with various solutions, each offering tools designed to enhance the attendee experience. Here’s how Koo stands out from competitors like Cvent, MazeMap, and SxSW Go.

Dynamic Indoor Navigation:

• Koo: Offers real-time, AI-driven navigation that dynamically adapts to changes within the venue and crowd movements.
• Competitors: Most provide static maps and standard navigation features that do not adjust in real-time, which can be less effective in a fluid, bustling event environment.

Personalized Itinerary Planning:

• Koo: Utilizes advanced algorithms to generate and continually update a personalized schedule based on an attendee’s preferences, feedback, and real-time event changes.
• Competitors: Typically offer basic itinerary functions that require manual updating and lack deep personalization features.

Multimodal Information Management:

• Koo: Integrates voice, text, and image data to create a comprehensive database of notes and information, easily accessible and manageable through AI.
• Competitors: Often focus on singular data input types, limiting their ability to manage complex information needs effectively.

AI-Driven Networking:

• Koo: Employs sophisticated algorithms to analyze attendee data and suggest potential business matches, enhancing networking opportunities.
• Competitors: Generally provide standard networking tools like contact exchange and chat features, without deep analysis for optimal match-making.

Competitive Analysis based on the differentiated features

Business Implications and Strategy for Koo:

The global market for trade shows and conferences represents a significant opportunity for innovative solutions like Koo. In 2023, the market size was estimated at over $37 billion, with expectations for continued growth as industries worldwide increasingly rely on face-to-face interactions and networking events to forge and sustain business relationships. Koo’s entry into this market is timely, as trade show organizers and attendees seek more efficient, tech-driven ways to enhance their event experiences.

Business Model: B2B2C

Koo operates under a B2B2C model, positioning itself as a crucial link between trade show organizers (B2B) and attendees (B2C). The model works as follows:

• Trade Show Organizers: Koo provides organizers with a powerful tool to enhance attendee satisfaction and streamline event operations, which in turn helps to attract and retain exhibitors and sponsors.
• Attendees: By improving their event experience through personalized schedules, effective navigation, and enhanced networking opportunities, Koo ensures that attendees derive maximum value from the event, making them more likely to return.

B2B2C Business Model

Revenue Generation Strategies:

Subscription-Based Model: Trade show organizers are charged an annual subscription fee for integrating Koo into their event management systems. This fee varies based on the size and scope of the event but generally ranges from $6,000 to $12,000 per year.

1. In-App Marketing & Promotions: Koo offers targeted advertising opportunities within the app, allowing exhibitors and sponsors to reach attendees with personalized promotions, thereby generating additional revenue streams.
2. Data Insights Monetization: By leveraging the data collected through the app, Koo can offer valuable insights to organizers and exhibitors about attendee behaviors, preferences, and engagement levels, which can be monetized through detailed analytical reports.

Future Recommendations

The future of Koo includes several exciting avenues for expansion. We envision it as an ecosystem of solutions for all the stakeholders involved.

• Scaling to More Events: Expanding the number of trade shows and conferences that use Koo, including entering international markets.
• Enhancing Features: Continuously improving AI capabilities to offer even more personalized and responsive features.
• Integrating with Other Systems: Creating interfaces between Koo and other event-related systems, such as CRM and ticketing platforms, to provide a more integrated event management solution.

Future Scope — The Koo Ecosystem

Conclusion: Revolutionizing Trade Shows with AI

Koo’s Impact on Trade Show Stakeholders

Koo revolutionizes the trade show experience by addressing the core challenges faced by attendees, organizers, and exhibitors. Here’s a brief recap of the significant impacts:

• For Attendees: Koo enhances the overall event experience by providing tailored itineraries, effortless navigation, effective information management, and enriched networking opportunities, making every moment at the trade show count.
• For Organizers: Koo offers tools that streamline event management, improve attendee satisfaction, and increase retention rates. Its data-driven insights also enable more informed decision-making, leading to more successful and scalable events.
• For Exhibitors: By facilitating targeted interactions and providing enhanced visibility through in-app promotions, Koo helps exhibitors connect more effectively with potential customers and partners.

The integration of AI into the event industry is not just a trend but a transformation that’s reshaping how interactions and engagements are managed at large-scale gatherings. Koo stands at the forefront of this change, demonstrating the power of technology to create more engaging, efficient, and enjoyable events.

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