Is Artificial Intelligence (AI) used in other industries?
Yes. Artificial Intelligence forecasting methodologies are used in a plethora of industries that experience non-linear trends, everything from stock market prediction to prostate cancer diagnosis. Using rigorous statistical analyses, it can be shown that hotel-relevant variables are generally non-linear in nature. Therefore, regression, moving averages, and capture ratios are all inappropriate techniques to use within the hospitality industry since they all have a linearity assumption that fails. Since AI is a non-parametric, non-linear technique, it outperforms other methodologies that are in current use throughout the industry.
