0:02 Hi everyone, it's me again, Martin from
0:05 Expedia Group. Um, in this short series
0:08 of clips, I'm going to share more about
0:10 challenges that we are seeing unfolding
0:13 in travel. Um, how they impact
0:16 businesses and how we at Expedia Group
0:19 are responding to advance our travel mission.
0:22 mission.
0:24 So, let's go. Let's start first with
0:29 changing. We all know what the world um
0:31 and sorry we all know that the world is
0:34 evolving at rapid pace. Globalization,
0:36 digital innovation and rising consumer
0:39 expectations are reshaping the way we
0:42 live, including the way we travel. In
0:45 today's hyperconnected world, thanks to
0:48 technology and air travel, uh the globe
0:50 has pretty much shrunk in size. Places
0:53 once considered remote are now just a
0:56 few clicks or hours away. And this means
0:59 that the travel market um has exploded
1:02 in diversity. It is no longer dominated
1:05 by just a few regions. Uh travelers now
1:07 come from everywhere in the world. And
1:09 they think, they book and travel
1:12 differently. And I think this makes
1:16 personalization as well as c cultural s
1:19 um sensitivity more important than ever.
1:22 And add to that are growing concerns
1:24 around what we have here in the middle
1:27 pillar. uh digital security with
1:29 millions of bookings happening online
1:32 every single day. Um the risk of fraud
1:35 and cyber attacks has never been higher.
1:38 Uh one breach can destroy consumer trust
1:40 and ruin someone's long awaited
1:42 vacation. And of course the final
1:44 challenge or at least one of the
1:45 challenges that we wanted to kind of
1:47 bring to the four today it's the fact
1:49 that we're in the middle of a massive
1:51 digital transformation
1:54 AI automation uh and new platforms like
1:58 ours are changing how businesses operate
2:01 while this brings new opportunities. It
2:04 also disrupts um old ways of working and
2:08 puts jobs and traditional roles at risk.
2:11 Okay. Um now in this next section we're
2:14 going to talk about what these changes
2:27 Well, first they demand some level of
2:29 great some level of agility. Businesses
2:32 can no longer rely on just one version
2:34 of a travel platform to serve the whole
2:38 world. um the needs of a traveler in say
2:40 Tokyo will differ from someone in
2:43 Nairobi or Sa Paulo um or even in
2:45 Singapore and Indonesia and everywhere
2:49 else in the region. Um and Expedia Group
2:51 um this is where we are seeing how
2:54 diverse the modern traveler has become.
2:56 That's why we are constantly thinking
2:58 about how we can build our tools so that
3:00 they can work for every type of
3:02 customer. uh and this includes how
3:04 people book, what languages they use and
3:07 even how they pay. Then there is the
3:10 issue of trust. Uh for online platforms
3:12 like ours, we're not just connecting
3:15 travelers to flights or hotels. We're
3:18 handling their money, their data, and to
3:21 some extent their dreams. If something
3:22 goes wrong, we don't just lose a
3:25 booking, we lose credibility.
3:28 Um, and that's why we invest in robust
3:30 digital security and use data science
3:34 and AI to predict and prevent fraud. I
3:36 think with over 70 pabytes of data
3:38 process were able to spot those risks
3:41 quickly and protect customers across the
3:45 globe. And finally, it's the issue of
3:48 digital disruption. Um, while it may
3:50 seem like technology is replacing
3:53 people, it can also empower them. So,
3:55 here's an example. uh in many of the
3:57 markets that we serve especially from
4:00 Southeast and South Asia there is a
4:02 considerable number of travelers who
4:05 rely on travel agents um for a variety
4:08 of reasons um some may be first time
4:10 travel agent h sorry they may be first-
4:12 time travelers who still do not have the
4:15 confidence to book online some may be
4:17 keen to go to a destination where they
4:20 may not be that comfortable exploring on
4:22 their own um on the first instance and
4:24 therefore would prefer some handholding
4:26 or some may be incredibly well traveled
4:29 but would like to get a highly bespoke
4:32 travel itinerary planned based on needs
4:34 and interest. Um and to this end
4:37 technology actually do give them the
4:40 tools to serve better and not disappear.
4:44 So yes um these changes are huge but
4:47 they also open the door for smarter more
