The future of AI is the market

Ross M. Darrow ()

Journal of Revenue and Pricing Management, 2021, vol. 20, issue 3, No 15, 386 pages

Abstract: Abstract We've made great progress with the current generation of AI, with learning customer preferences embedded in recommender systems to better customize offerings. This is perfect for the New Distribution Capability that IATA is spearheading for the airline industry. To truly make this work, and not just for airlines but for all travel (hotels, rental cars, attractions, concerts, tours, and more), we need to move on from (a) supervised learning built upon masses of data to systems that learn on the fly with little data, and from (b) centralized (even if in the cloud) machine learning to distributed artificial intelligence, and from (c) recommender systems to marketplace approaches.

Keywords: Customer Value Chain; Microeconomics; New distribution capability; Multi-armed bandits; Multi-agent systems; Marketplace; Distribution artificial intelligence (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/s41272-021-00321-2

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