Máire P. Walsh, SVP Digital Technologies at Enterprise Ireland, joins Travel Tech Con 2018.
Really excited to welcome Máire P. Walsh & Enterprise Ireland to Travel Tech Con 2018 Pitch Competition!
Máire, what in your opinion drives innovation and leaps forward in the travel industry today and how is it different from say 10 years ago?
Changing consumer behavior had the biggest impact on driving the travel industry forward over the last 10 years. The rapid shift to mobile and it’s future dominance in travel related purchases will continue to force major players to overhaul their customer experiences to remain competitive. Currently, technological advancements in big data, machine learning, AI, AR/VR, and blockchain has led to more choice for customers, reduced costs for customer acquisition, and higher margins. The ability to book trips through voice and text, change offers dynamically, create immersive experiences and the potential for blockchain to eliminate fraud will strengthen the travel industry.
What do you wish travel startups understood better about innovating in the travel industry?
Many players in the travel industry have legacy systems that impact the willingness to integrate new technologies that drive innovation and impact. It is imperative to plan for lengthy sales cycles as “buy in” needs to be secured from several stakeholders to ensure success. If you have a product that is relative easy to test that can help drive results. Commitment to an entire role out without testing is practically impossible. There is too much at risk.
What does the industry need to better support travel startups in your opinion?
We are fortunate that many airlines now have innovation arms. In the U.S., JetBlue, Delta, Southwest and American have all committed teams to unlock opportunities in the startup ecosystem. This investment in resources is a positive step to identify new opportunities, foster innovation, and drive excellence. Other industry players should also devote resources to explore opportunities with startups and find a way to trial innovations within their legacy systems. Startups have the ability to be quick, nimble, and solve for IT problems that deliver significant benefits. A good example is Jet Blue and Datalex. JetBlue leveraged the Datalex offer management and dynamic pricing functionality to simplify fare policies and dynamically configure branded fare offers. JetBlue achieved a $200 million incremental revenue benefit from Fare Options in 2016, one year ahead of its original forecast, and Datalex continues to drive significant incremental revenue as their relationship expands.
Join Máire and many other travel tech experts at the upcoming Pitches and Demoes at Travel Tech Con 2018 on June 7th! Full program available via TTC18 mobile app and here’s how to get the most out of TTC18!
