Cvent CEO and founder Reggie Aggarwal kicked off the second annual Cvent CONNECT Europe conference, 1 October, in London with a call to event and hospitality professionals worldwide to embrace new technologies that are part of what is being hailed as the Fourth Industrial Revolution. Biometrics, artificial intelligence, the internet of things (IoT), facial recognition, and machine learning were all highlighted as elements of this new technology-fuelled era that will have a profound effect on the meetings and events industry worldwide.
In his opening address, Aggarwal said: “It is imperative that we welcome the Fourth Industrial Revolution and capitalise on the incredible technological advances that are going on around us. Our technology team of more than 1,300 people are constantly working to stay ahead of the curve, and we are putting more resources into research and development than anyone in our space – which allows us to be the most innovative technology company in our industry.”
Cvent is developing solutions and working with other leading brands to utilise and experiment with these technologies. Two examples of the so-called Fourth Industrial Revolution in practice include:
Artificial Intelligence and Machine Learning
For hospitality professionals, Cvent has launched its Lead Scoring tool, which applies machine learning and artificial intelligence to help venues and hotels prioritise, evaluate, and route the more than 25 million requests for proposals (RFPs) Cvent estimates will be sent this year alone. The solution is already helping flagship hospitality brands around the globe respond to meeting planners more quickly, helping them win more business faster than ever before.
Aggarwal highlighted a recent example of a Fortune 100 Cvent customer that used facial recognition to check-in more than 5,000 attendees at a recent event. Not only were there significant time savings from embracing this innovative tactic, but the attendee feedback illustrated how the traditionally mundane task of event check-in was transformed into an experience that was both memorable and unique. The facial recognition technology will now be used for the customer’s flagship event for over 40,000 people.
“Large technology shifts like the one we are currently experiencing often bring with them an element of fear. But this new era should be seen as an opportunity to reach new heights – to reach new levels of success. It is incredibly exciting to be at the forefront of this revolution. To witness the positive impact that these technologies are already making on the meetings and events industry bodes well for widespread adoption. This revolution will fundamentally alter the way we live, the way we work, and the way we connect to one another, and we’re dedicated to helping our customers navigate the next industrial revolution to maximise their potential through technology,” concluded Aggarwal.