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Tech innovat ion: What ’s next? T he rapid progress in Artificial Intelligence (AI) is opening new opportunities and challenges for businesses and individuals alike. AI is the magic of the moment, but this session of today’s TFWA Asia Pacific Conference is a story about what’s next. To predict trends affecting businesses and the global travel and retail industry, the closing session of this year’s Asia Pacific Conference will feature best-selling author, physicist and professor, Dr Michio Kaku. “In spite of the coronavirus, the tourist industry is making a steady comeback,” says Kaku. “Tourist agencies are flooded with a rising request for foreign travel. What is driving much of this is the demographic change in world finances, with a rising middle class eager to see the world. After centuries of poverty and neglect, a historically new rising middle class is driving a steady rise in tourism. Second, technology is making tourismmore accessible to first-time travellers. The bottlenecks and inconveniences of travel are being eliminated. Companies must take advantage of this technological revolution, especially AI, to encourage the next generation of tourists.” Indeed, AI is making long distance travel easier, faster, more convenient, and cheaper. “AI is smoothing out all the kinks and speed bumps in international travel, especially for first time tourists,” Kaku explains. “Problems – like lost luggage, long lines, confusing signs, lost tourists – can be eliminated by AI. Menial tasks are increasingly being done by robots. The language problem with international travel can also be eliminated via AI universal translators, in people’s cell phones and also in friendly robots that can answer all questions.” A zran Osman-Rani, Author and venture capitalist, is co- moderator of today’s TFWA Asia Pacific Conference, alongside Michele Miranda, Conference Director, Tax Free World Association. “I’mexcited to be a part of this conference because of the significance of thismilestone year for TFWA and because travel is especially meaningful forme professionally and personally – I like to think I still have aviation jet fuel running throughmy veins,” says Osman-Rani. “I hope participants of this event will leave with three take-aways: Curiosity to pick up new ideas and insights, Connection frommeeting newpeople and reinvigorating old friendships, and Courage to bring back and implement bold and exciting business initiatives.” Osman-Rani’s experience includes pioneering the long-haul, low-cost airline model as the founding CEO of AirAsia X, as well as being part of the start-up team at iflix. “While my role is to support to amplify the exciting messages from our expert speakers that day, as someone who has been deeply involved in the air travel industry and still connected to it, I can add the perspectives from the airline industry,” Osman-Rani explains. “Three key themes resonate in today’s climate: First, howmost major Asian airports become slot-congested, will we see more higher-seat capacity aircraft being used even for short-haul routes? Second, the inexorable trend of sustainable travel, from how we manage carbon emissions to materials used throughout the travel journey. Finally, for Southeast Asia, how connectivity and passenger travel will trend from secondary markets in China and India.” Michio Kaku, Author, physicist, and professor, City College of New York: “Technology is making tourismmore accessible to first-time travellers. The bottlenecks and inconveniences of travel are being eliminated. Companies must take advantage of this technological revolution, especially AI, to encourage the next generation of tourists.” Azran Osman-Rani, Author and venture capitalist: “I hope participants of this event will leave with three take-aways: Curiosity to pick up new ideas and insights, Connection frommeeting new people and reinvigorating old friendships, and Courage to bring back and implement bold and exciting business initiatives.” Curiosity, Connection and Courage – three key take-aways from today’s TFWA Asia Pacific Conference Monday 1 3 May 2024 12 T F W A D A I L Y