[Announcement] Deepair Wins The Best Presentation Award at Airline Conference in Panama City
We are super excited to share the news that deepair solutions won the best presentation award at this years AGIFORS RM Study Group 2019.
Deepair team, along with our research partners from University of Illinois at Urbana Champaign (UIUC), were in Panama City to attend this conference. This conference brings together the best brains in airline pricing and revenue management under one roof.
The attendees and fellow presenters include academicians (e.g. MIT), airline practitioners (e.g. United Airlines, Lufthansa, AirFrance, etc.) and various technology providers.
The presentation was about our vision to move the dial of the airline industry’s commercial decision making from “average customer to individual traveler” and how we actualized this concept with a pilot use-case: Airline Ancillary Pricing.
Big tech companies like Google and Amazon are entering the travel industry. In order to compete with these digital native companies, travel suppliers need to deploy tools that will help them predict and monetize customer needs.
Our research objective was to show that using bleeding edge AI, like deep learning, it is possible to predict an individual customers behavior and convert that prediction in a profitable commercial decision. More importantly, these decisions can be made live, during a customer interaction, so that the complete context of the interaction can be taken into account. We demonstrated this core idea of “average to individual decisions” through our pilot use case: dynamic discounting of airline ancillaries.
Our live production operations show that deep learning based algorithms outperform human curated pricing algorithms by improving conversions by 25% and revenue per customer by 20%.