In a recent one-on-one interview recorded during the HITEC 2024 event in Charlotte, Hospitality Net's Simone Puorto sat down with Michael Cohen, Managing Partner at Growth Advisors International Network (GAIN). This interview is part of our HITEC 2024 series, where we have engaged with a diverse array of speakers, exhibitors, and visitors to provide in-depth insights into the industry's latest trends and innovations. Cohen shared his perspectives on the evolving role of artificial intelligence (AI) in hospitality, the industry's ongoing labor challenges, and the future of workforce optimization.

Introduction and Role of GAIN

Michael Cohen begins by introducing himself as the Managing Partner of Growth Advisors International Network (GAIN), a global network of senior-level advisors focused on innovation, technology, and growth within the travel and hospitality sectors. Cohen emphasizes the group's expertise in driving industry advancements and supporting organizations through significant paradigm shifts.

AI: Paradigm Shift and Industry Impact

Cohen discusses the frequent discourse around AI, noting the polarized views within the industry. He highlights the importance of understanding AI as part of a broader trend of technological paradigm shifts, similar to the advent of PCs, the internet, and mobile technology. Over the next year, Cohen predicts AI will drive significant changes in productivity and profitability in hospitality by automating repetitive, low-value tasks.

Optimization and Workforce Efficiency

Addressing the labor shortage issue prevalent in the industry, Cohen explains that AI will not eliminate jobs but will optimize tasks within those jobs. AI will handle mundane, repetitive tasks, allowing human workers to focus on more complex and valuable responsibilities. This shift will result in better utilization of human resources, ultimately enhancing overall operational efficiency.

The Concept of Humans in the Loop

Cohen introduces the concept of "Humans in the Loop," where AI manages routine tasks, and humans oversee and ensure the accuracy of AI operations. He likens this to air traffic controllers who monitor automated systems, ensuring everything functions smoothly. This approach maintains human oversight while leveraging AI's capabilities to handle time-consuming activities.

Future Outlook and Industry Transformation

Looking ahead, Cohen envisions a hospitality industry where AI significantly contributes to optimization and growth. By automating drudgery tasks, AI will free up human resources for more strategic roles, fostering innovation and enhancing guest experiences. Cohen remains optimistic about AI's potential to transform the industry, emphasizing the need for thoughtful implementation and ongoing adaptation.

Conclusion

In conclusion, Michael Cohen's insights highlight the transformative potential of AI in the hospitality industry. By focusing on task optimization and workforce efficiency, AI can drive significant productivity gains and enhance operational effectiveness. This interview is part of Hospitality Net's HITEC 2024 series, providing a platform for industry leaders to share their insights and experiences.

 

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