Disruptions at the global scale seem to be a norm today. We are seeing everything from the pandemic, leading to supply chain restructuring, to war in Ukraine, leading to energy and food crises, interest rate hikes, and financial instability. These global disruptions are forcing many to reconsider how they use …more
While digital transformation has long been an effort undertaken by many global enterprises, the challenge today lies in differentiating your eCommerce business in an increasingly crowded digital market. So, how can a business stand out in this vast digital economy? For those that have succeeded, the secret ingredient is almost always Artificial Intelligence (AI)
Once work is virtualized, it can be digitized, tracked, turned into data, and used to train an AI system to mimic how we work. This will start with the most repeatable tasks, but AI will eventually automate some creative activities also. But before this can happen, more of the physical work must be shifted into digital work so it can be easily tracked and turned into training data.
The COVID Task Force is truly a historic event. Although this unlikely event is driven by the unfortunate circumstance of COVID, it’s an unprecedented collaboration among airlines by sharing the most prized asset (i.e. their data). We are privileged to facilitate this partnership through our COVID Task Force. And the …more
Humans have always weathered through adversity by joining our forces to fight the common enemy. We strongly believe that by pooling our collective resources and expertise, we will all have a faster and smoother recovery. It is under this principle that PROS has assembled the COVID-19 Task Force (CTF).
The aggressive containment measures of COVID-19 has created a demand shock to our economy. Although a few select industries saw increased demand, revenue across most industries plummeted. While sales teams are resorting to lower prices to stimulate demand, it’s important to recognize this crisis is characterized by a downward shift …more
The travel and tourism industries are some of the most heavily impacted businesses by the current pandemic. And the impact of COVID-19 on the airline industry is unanimously negative. Airlines around the world have canceled 60%—90% of their flights, which could cost the industry a total of $250B. Unlike previous …more
It’s been 7 months since the pandemic has been spreading across the globe. And it’s been almost 4 months since PROS assembled the COVID-19 Task Force (CTF). As of today, we have a total of 16 participants with their signed data consent form at the time of this blog’s publishing. …more
It’s been a while since we had an update on what the COVID-19 Task Force (CTF) is doing. At the time of this blog’s publishing, we have a total of 22 global enterprises participating, including some of the largest airlines in the world. This is truly unprecedented! Because airline businesses …more
Last time, we’ve described the process of how we design and build our booking-prediction model, and how to use it to predict future bookings. Today, we will examine some real predictions from this model. The results in the blog post were first published in Business Travel News, but we will …more