Executive Summary
My AI Project: Booth Curation System
I’ve been working in MICE industry including meeting, trade show, travel and events business over 19 years. MICE business is basically based on real meeting between people. Therefore, MICE is a tool of experience marketing for companies, organizations and cities. So I would like to apply AI technology for enhancing meeting opportunities onsite. Actually I chose my AI project as a development of Booth Curation System (BCS), which is a recommendation system of appropriate exhibitors or meeting participants based on analysis of pre-registered visitors during the trade show and convention visits. BCS would provide time-saving and efficient meeting opportunities to MICE visitors, especially buyers and professional visitors who hope to find best companies or people in an exhibition hall. It means BCS would give values for MICE organizers because BCS is a personalized curation system based on AI. I can say that this makes competitive advantage compared to other competitors in terms of differentiation strategy. As we see that almost every off-line events are cancelled as covid-19 infects the world, MICE would evolve to combine AI technology with experience marketing beyond time and space limit. I believe off-site events would not disappear but evolve for better meeting experience. BCS could be a solution to meet better not only in trade show or convention, but it would be applied for tourism industry so that tourists could save time and experience much more based on personalized recommendation system.
Organization information
My company provides trade show management service for organizers and venue marketing services for convention centers. Events like trade show and convention are needed to match exactly between buyers and sellers, however, mostly organizers including venues do not provide any personalized information to visitors.
Overall plan for the strategic implementation of an AI technology
I will firstly apply our BCS solution to trade shows which our company manage. I think BCS would be helpful mostly for more than 50,000 sqm of trade shows because it would take more than 1 day for looking around whole exhibitors if visitors come to see the trade show. So I would propose BCS solution to biggest trade show in Korea and test its recommendation system. If it would prove its value, BCS would be applied to global trade shows and business events.
Organization’s benefit in terms of Porter’s three generic strategies
The value of BCS is that it could provide personalized curation service based on machine learning. I’ve learned machine learning has two functions which are sensing and predicting something by big data analysis. Especially BCS, as a narrow AI in terms of solving specific problem, would contribute to develop differentiation strategy as it enhances visitor experience for better meeting between companies and people. Moreover, I think our organization would take strong position in not only MICE industry but also in tourism industry if BCS could be applied to overall hospitality business.