Technology changes the way you travel and therefore understanding the adoption of technology is a must in the Aviation, Travel & Tourism industry. According to the World Economic Forum’s Report, among the trends driving growth across industries over the 2018–2022 period, advances in mobile internet are likely to have a distinct impact in this industry and at the same time, according to the same Report, the growth potential of new technological expansion influences the labor market in this industry, as it reshapes skill gaps. But for technology to work its magic, it needs to be properly managed, and the barriers to technology adoption must be properly understood.
Thanks to advances in Artificial Intelligence, automation has already happened in the back end of travel. The digital advancements in the Aviation Travel & Tourism industry have also repercussions on the skills demanded from the workforce. The World Economic Forum’s report has outlined the fact that in this industry there will be a huge demand for reskilling as 68% of its workforce will require some form of adaptive training. Further, companies in this industry project that 18% of the workforce will require reskilling lasting more than one year. According to the report, the solution to the skills gap will be in the hands of local educational institutions. Fortunately, industry leaders are acknowledging this as they ranked education institutions as their third-most important support structure in the closing of the skill gap.
In conclusion, digital technological advancements are setting the pace for global labor market change in the Aviation, Travel & Tourism industry and that pace is fast. An outlook of the labor market of this industry provided a better understanding of the potential of new technologies and it showed us how the technological advancements improve current educational demands around anticipated skill requirements. The report highlighted the fact that work tasks are shifting and therefore the requirements of the roles performed by individuals in the workplace in 2022 need to consider that employees have to be trained and retrained.
First, let’s look at the way technology adoption can affect the Aviation, Travel and Tourism industry. A huge share of survey respondents from the industry indicated that, by 2022, their company was “likely” or “very likely” (on a 5-point scale) to have adopted new technology as part of its growth strategy.
Second, if we look at the barriers to adoption of new technologies, we can see the five biggest perceived barriers to the implementation of new technologies across the industry, as ranked by the share of survey respondents. The following graphic will show you which were the obstacles that were selected by the surveyed people that were perceived as impediments to successful new technology adoption faced by their company.
Thirdly we have the expected impact of new technology adoption on the workforce. In the following graphic one can see the percentages representing the share of survey respondents from the industry who expect their company to have adopted the stated measure(s) over the 2018–2022 period as part of their current growth strategy.
Technological advancements are very likely to present real challenges to existing business models and practices. But hopefully, in the next years, these dynamic changes, whether they are disruptive or constructive will be the exact reason why new opportunities of growth appear.