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Travel Weekly
a day ago
- Business
- Travel Weekly
Is AI something we need to embrace ... or survive?
Richard Turen Consider this one in an ongoing series of columns that will eventually be written by AI, I'm sure. I was not anxious to open the door to this subject. Perhaps articles about AI's potential impact on our industry should best be written by those who study and design AI in the tech sector or at universities. Many travel advisors I speak to say they will embrace AI when it can do more. Some think it is a threat in terms of eliminating the need for professional, human advisors. Why, after all, rely on the travel knowledge and experience stored in one single brain when you can more quickly access the collective wisdom of tens of thousands? In our time together, I have not addressed in depth the potential impact of AI. I do not want to try to predict where it/we are headed. I do not want to pretend that I have any scientific expertise in the field. But I thought it might be helpful to devote some space to just talking through some of my observations over the past several years regarding the impact of amateur or, if you prefer, "artificial" intelligence on our industry. I have been keeping files on the progress of AI over the years, knowing I would write about it at some point when I felt I had a handle on the subject. Any objective observer would look back and marvel at the progress that has been made in technology in a few years and, all too often, in just a few months. Should we be worried? Should we be unusually proactive? Or should we do the one thing we as a profession never do: Should we actively communicate to our clients that AI is a potentially destructive way to enable a machine to plan the best moments of one's life? In wondering what the future might hold for our little shops that sell the world, I decided to start with the source: "While AI is gaining ground in the tourism sector, this does not mean that travel agents will disappear. On the contrary, their role is evolving. Rather than focusing on flight and hotel research, they can now focus on their true expertise: advising, guiding and offering unique experiences." That is not an altogether reassuring statement. If we lose the ability to compete with AI in flight planning and accommodations, does that mean that we all need to convert to the highest level of personal FIT planning? And will that be profitable? Do we want to engage in a profession where we are no longer trusted to do 75% of what most of us do for a living? I did not write the statement. Google AI wrote it in response to my question. It is the only part of this column I did not write. And it is interesting in terms of Google AI's confidence that it will soon be taking over several of the most critical functions we fulfill. And there is a question left unanswered: If our "true expertise" is offering "unique experiences," how will we compete with a technology that can scan tens of thousands of unique experiences at any destination in the world within moments.? A comment from respected Stanford professor Fei-Fei Li illustrates the major goal of AI and its immediate focus. She said there was a phrase from the 1970s that AI "is a machine that can make a perfect chess move while the room is on fire." Machines lack contextual understanding. Travel industry skeptics, and I am not one of them, claim that the lack of conceptual understanding is the reason that AI will never replace the home-based IC or the office-based corporate agent. Let's continue this conversation next time -- there may, after all, be a new AI breakthrough to report.
Al Jazeera
3 days ago
- Politics
- Al Jazeera
Trump 'more likely to escalate' attack on Iran than stop it
Ali Vaez, senior advisor at the International Crisis Group, says President Trump could halt Israel's attacks on Iran, but he's more likely to join the fight than stop it.
Mail & Guardian
4 days ago
- Business
- Mail & Guardian
How can blockchain improve the legal industry through data integrity?
Blockchain technology has the potential to change the world by bringing transparency and safety to global datasets. Since every piece of data recorded on the ledger is untouchable, meaning no one can delete or alter it, blockchain's traceability features can help manage counterfeiting and fraud. Blockchain can be helpful in various industries, including However, the legal industry might be the industry most requiring this technology, as it has been slow to adapt to modern practices. With increasing digital expectations, the law sector must switch from traditional methods and hardware-based activities and approach more software and innovative solutions like blockchain. Here's why it could help. Blockchain brings more traceability Blockchain's decentralised features make it transparent since there's no central authority controlling the ecosystem. Depending on how the blockchain works, it could be maintained by more or fewer nodes, miners, and validators who ensure the network is working safely. Transparency is essential in legal services, but it can be challenging to maintain, considering the nature of the centralised system. However, with blockchain, users and employees can also benefit from ease of access and reliable information. Properly recording information on the ledger can also help enormously in cases in which companies breached their duty of care, where advisors can access important information for the case. A successful Blockchain is a cost-saving solution Automating manual legal tasks could save legal companies from time-consuming labour, especially when it comes to day-to-day management, contracts for sale or B2B collaboration. Blockchain offers automation through smart contracts, developers can program according to a company's needs. Since many lawyers and related employees spend their time on administrative tasks, taking advantage of smart contracts and legal agreement repository technology can help them save time and money. Blockchain can also aid in transactions between parties by lowering fees and accelerating processing times. This could make legal services more approachable and accessible for a broader range of customers and encourage collaborators to expand their partnerships. Blockchain ensures data integrity Data integrity is crucial in the legal industry, but ensuring it is difficult in the modern age of technology. Hackers can always enter legal systems with the right amount of knowledge. Since most of these systems are far from being protected, the integrity of the data used can be questionable. However, blockchain technology is known for its extremely safe environment, where hacking with the system is close to impossible. Since data is stored on the ledger and cryptographic functions transform information into unique hashes, tampering with it would immediately be detected. Law employees can also use digital signatures to seize the authenticity and origin of the data they access. How can blockchain be useful in the legal industry? While it seems blockchain only benefits data-related sectors in the legal industry, its potential use cases expand over the following departments: Property rights can hash land records and administration services on the blockchain; Limited liability autonomous organisations (LAO) allow for decentralised management; Automated regulatory compliance through smart contract technology; Chain of custody secures evidence from the collection moment until it's presented; Of course, blockchain offers endless opportunities in the industry. Tokenization, for example, is an emerging technology that allows every type of asset to be digitalised for enhanced processing. In the legal industry, tokenization can be used in the form of IP rights and microtransactions, through which creators can legally sell parts of their assets. What are the challenges of blockchain in the legal industry? Although blockchain could revolutionise the sector, its lack of proper management could impose several risks to data integrity. For example, the lack of developers specialised in the industry hinders blockchain's progress in being introduced as an alternative to traditional systems. Since the blockchain learning curve is steep, it will take some time for professionals to shape their blockchain-related skills. At the same time, blockchain and cryptocurrencies still lack adequate regulation across most countries, meaning their legal introduction is not doable at the moment. While the new US administration is inclined towards these emerging technologies, shaping an adequate legal framework takes time and experimentation with volatile assets and complex knowledge. Still, technology has become a new trend in the legal sector As demand for technological advancements grows, we're seeing interesting trends for 2025 and beyond in the legal industry. For example, artificial intelligence will become a frequently used tool by law experts as it accelerates productivity in research. AI databases can be trained to offer the information needed for certain tasks, and they could also better manage biases. Overall, law firms will make more investments that will reduce administrative workloads. AI might soon complete document automation, email customisation, and case management so that professionals can have more time to focus on important tasks and client meetings. We might also see a rise in Finally, GenAI will also be introduced in regard to data silos, which will combine human support for decision-making in processing large data sets. Through enhanced integration, law firms could benefit from the fastest and most efficient data integrations, managing multiple cases at once and cutting down processing times. What do you think about blockchain in the legal industry? Blockchain can change the world by bringing more automation and decentralisation within traditional and outperformed systems. Since data security and integrity are more important than ever, and security risks are everywhere around the corner, securing data systems is the most important thing. Therefore, law firms would greatly benefit from blockchain concerning data transparency and cost-saving strategies. However, challenges such as the lack of regulation and steep learning curve might impede its introduction in the sector.
Travel Weekly
5 days ago
- Business
- Travel Weekly
A look back at predictions past
Jamie Biesiada At the beginning of every year, Travel Weekly dedicates an issue of the paper to predictions of what's to come in the next 12 months. Editors, myself included, take to our keyboards and share what we think are the logical next steps to trends we've been following, sometimes for years. It's a good exercise to take stock of where the industry is and where it might be going. I often use it as an excuse to talk to advisors and agency owners about what they're seeing on the front lines of selling travel; the prior 12 months are usually a good indicator of the next dozen. As a side note, in writing this column, I looked back on some previous Preview issues. In January 2020, I predicted that "the IC community, and the hosts and agencies that support it, face some big challenges in the year ahead and beyond." Even though I was talking about the need to educate new advisors, still a conversation worth having today -- boy, oh boy, I wasn't wrong about that one. This January, I wrote about the trend of normalization that the entire travel industry had been experiencing throughout 2024. The agency community was no exception to that. While the years immediately after Covid were marked by a frenetic pace, the growth started to slow a bit last year. But at the beginning of this year, bookings still looked strong. Now, six months into the year, it's a bit of a mixed bag. A survey we fielded last month found that 57.7% of respondents were experiencing some kind of decrease in bookings (it was a significant decrease for 27.8% of those agents, a slight decrease for the others). Another 31.3% are experiencing an increase in bookings (a significant increase for 12.8% of those surveyed). Ten percent have seen no change. Survey-takers indicated contributing factors to a decrease in bookings include the economy, consumer confidence and price sensitivity. That's not surprising: a lot has happened in the past six months, including the Department of Government Efficiency's reduction of the federal workforce, tariffs and a yo-yoing stock market, which has impacted consumer confidence. It's clear that we've entered a new period in terms of travel trends, one where consumers might be tightening their belts a little. However, history has shown that, regardless of the circumstances, people will travel, albeit in a slightly different manner. Covid was arguably the darkest time for advisors in recent memory as the industry ground to a halt. Relatively quickly, though, agencies started to pivot and offer different kinds of trips, like domestic vacations to national parks. Theme parks also did particularly well. It was a pretty big pivot (remember that word, everyone?), but for many it kept the lights on. The post-Covid boom in travel might have left agents frenzied with call after call from travelers clawing at the walls, but at least it put money in the bank and established a good base of future clients. Now is the time to tap into that base and get them thinking about their next trip, even if it's not an all-out, bucket-list vacation. As for Preview 2026, I'd hesitate to make any early predictions. We still have another six months to get through, and who knows what awaits us in the second half of the year. It's probably safe to say, though, that advisors will still be putting in the work, serving clients and keeping the world moving.
Globe and Mail
12-06-2025
- Business
- Globe and Mail
Coming soon: Season two of Behind The Advice
Money weaves its way through all our lives. It influences our choices, big and small, and charts the course of our future. And behind every piece of financial advice, there's a person with a unique story to tell. Host Brenda Bouw is back for season two of Behind The Advice, a Globe and Mail podcast about financial advice and the people who give it. From an advisor who kept their previous experience living in poverty a secret from colleagues and clients for years, to one who thinks the industry has become far too complacent, Behind The Advice gathers stories of trial and triumph, and digs deep into the moments that shape how advisors think about money, their clients, and the industry at large. Season two launches June 18th.
