What about 3rd party AI add-ons?

Shiny Objects

I recently came across an article that reviewed 35 niche players in the AI space, all tailored to the hospitality industry. While each offering was impressive, they were all designed for very specific use cases.

Unless your property uses a particular product configured in a precise way to address a specific need, these solutions may not be applicable. Additionally, none of the companies featured were more than two years old or had more than 15 employees.

Suitability

Any of these products could provide significant value, but they are designed to integrate into a specific ecosystem. If you haven’t already adopted the necessary complementary products, these promising solutions may not be an option.

Even if your property is fortunate enough to find an AI solution that operates seamlessly in your environment, there are inherent risks in relying on a small company with an uncertain product roadmap. It is crucial to carefully evaluate these factors before committing to incorporating a critical AI component into your operational decision-making.

How do I decide?

Some of these offerings are indeed compelling. They promise competitive advantages, operational efficiencies, and cost reductions that could justify the investment of time and resources. However, due diligence is essential in an industry that is still in its early stages of development. This may be an opportune moment to consider the support of a Fractional Executive.

Conclusion

Be deliberate in choosing AI plug-ins to assist with operations. The industry is very young and it is better to think of all implementations as a test-run at this stage.