Jun

Abundance of Information Often is a Liability

A massive change has occurred in the world during the last ten to twenty years. Until recently and throughout the history of mankind information was hard to access. Obtaining and sharing information was either a laborious process or impossible, and the underlying assumption was that information can never be enough.

Today, of course, we have the opposite picture. Not only information is easily available, it keeps pouring in from a growing number of sources, and we continuously find ourselves in situations when there is more information than we want or able to process.

A major task we, as species, are facing is therefore how to reduce or filter out relevant information. It is, to repeat, in direct opposition to the task we’ve been accustomed to during all previous centuries, which was how to obtain information.

Since this change took place only recently, within a lifetime of one generation, we didn’t have time to develop efficient set of procedures to address the new problem. But the work has started and will only accelerate with time.

Interested in reading more? Check out our other blogs:

Amazing Social Data for Travel Companies

                                                   

A huge number of travel related conversations is happening every day on social networks.

Based on nmodes Twitter data (averaged over 1.5 years of observations) there is

- 1 conversation every 15 minutes in which people notify that they are going to NYC;

- 1 conversation every 43 minutes in which people from the USA express intent to go to Europe;

- 1 conversation every 4 minutes with interest or intent to go on vacation;

- 1 conversation every 3 hours in which people are asking for hotel recommendations.

And this is just a tip of the iceberg.

(nmodes currently has 70+ travel-related topics and intents, and growing.)

For travel companies all these are qualified leads, potential customers, and attentive audience.

Reaching out to these potential customers results in a positive consumer experience, brand recognition, and, yes, sales!

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AI unmasked: Have chatbots failed?

It is becoming increasingly popular to say that chatbots have failed and are overhyped.

While it is true that in many cases expectations from chatbots significantly exceed the results on the ground, the anticipation of chatbots’ demise are somewhat premature. 

One of the main problems for chatbots is that the market is inundated with low quality solution providers who deliver low quality results. This happened because conversational AI seems to have low entry barriers. Unlike other recent technological darlings such as space technology or renewable energy, conversational AI is purely software and therefore does not require vast sums of initial investment. 

What this approach is missing however,  is that conversational AI, in addition to being a software, also requires an accurate understanding of how language works. And there is a limited number of people in the world that do have such understanding.

When conversational AI is delivered by AI experts who understand the way human language works, the results are good and convincing, just as how you would expect them to be.

Suffering from unsatisfactory product quality is a common problem for many new and emerging industries.  The rules of the market dictate that most of the low quality players will eventually disappear. Poorly created chatbots will therefore not be around for too long.

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