a group airfare marketplace administered by AI€¦ · PROBLEM In order to make adjustments to the...
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a group airfare marketplace administered by AI
Transcript of a group airfare marketplace administered by AI€¦ · PROBLEM In order to make adjustments to the...
a group airfare marketplace administered by AI
Bacarai is an online marketplace where airlines can use independent AI agents to manage their group travel programs, ditching the call center model of the past.
By leveraging developments in AI, the airlines can interact digitally with their passengers, creating a more efficient and seamless experience for all the major stakeholders of the global group travel ecosystem.
WATCH OUR PITCH VIDEO
PROBLEM
In order to make adjustments to the trip, the buyer needs to call the airline, just like it's 1999.
There is no centralized place to buy and sell group airfare. Transactions are done offline, over the phone, or through e-mail forms creating long delays for buyers looking to purchase group airfare.
Airlines are forced to carry the cost of large call centers to serve their group travel programs, decreasing the profitability of such programs.
Buyers are defined as any entity looking to purchase group travel, which is 10+ flights. Buyers include but are not limited to travel agencies, tour operators, travel managers, church leaders, and individuals.
PROBLEM IN ACTION
The current manner in which group airfare is bought and sold creates too many pain points for the passenger requesting and then managing group space.
Click to experience the current customer journey
THE BACARAI SOLUTION
Create a centralized online marketplace where the buyers of group air travel can request & manage trips by interacting with the AI agents of each airline, publishing all actions to
the blockchain via smart contract.
THE BACARAI SOLUTION IN ACTION
Bacarai.com
The online marketplace will provide instant quotes, significantly reducing passenger wait time.
Airlines no longer have to waste time and money while tying up resources providing quotes that don’t convert.
Submits a request for group air travel
The AI agent of each airline provides a quote
The prospective passenger compares quotes
PUSHING TECHNOLOGY FORWARD
Because we care about improving the overall group travel ecosystem, we’ve designed independent AI agents that can perform actions on behalf of airlines, ultimately serving their group passengers more quickly and efficiently.
What makes the technology truly special is each AI agenthas the ability to infer, learn, and evolve— performing its job betterover time.
This development in technology allows the airlines to create a better passenger experience.
ADDRESSABLE MARKET
The global youth travel market accounts for 20% of all international tourism, 190 million international trips per year, and $173 billion annually.
Meetings and convention travel are a $30 billion worldwide industry. In 2017, the average convention in the US had over 5,000 attendees.
Most of these passengers travel on group or meeting contracts, which means they are subjected to the current, antiquated system.
Sourced from Skift, the National Tour Association, and Statista.com
PASSENGER BENEFITSMillions of passengers travel on group contracts each year. Almost every industry utilizes group airfare from student organizations to Fortune 500 companies.
Instantly compare options
Decreased wait time for group quotes
Build booking confidence
Save money on group airfare
TRAVEL AGENT BENEFITSTravel agents are passenger advocates, speaking on behalf of and serving the passenger.
Receive quotes instantly, decreasing
passenger wait times
Provide a better customer service
experience for passengers
Price compare in real time
Easily manage contract changes
on behalf of passengers
AIRLINE BENEFITSBacarai allows the airlines to interact directly with their travelers, our web platform is simply the meeting place. This allows all transactions to be recorded in their native systems.
The airline industry will be able to severely reduce distribution fees because they interact directly with the buyer, saving hundreds of millions in fees.
ADDITIONAL AIRLINE BENEFITSDevelopments in AI will allow airlines to focus on interactions instead of transactions, deepening relationships with passengers and earning brand loyalty.
decrease labor costs
improve customer experience increase profits
serve dynamic pricing
better manage inventory
bid on more group contracts
reduce duplicate bookings on
multiple airlines
RISKS & DRAWBACKS
Bacarai’s major drawback is its dependency on airline adoption for the solution to have mass appeal.
We are tackling this by designing a system that is feature rich for not only the passenger, but the airline.
Bacarai’s solution will allow airlines to increase profitability & efficiency; all while creating a better passenger experience for those responsible for organizing and executing group contracts.
BUSINESS MODEL
$15.99 $5.00 $3,200travel buyer monthly
subscription feedistribution fee per
flight purchasedAI agent annual
licensing fee
Bacarai will have three primary streams of income
Financial Viability
ECONOMIC IMPACT
$1.9m $75m $3.2mrevenue derived from annual subscriptions
revenue derived from the distribution fee per unit of
travel purchased
Revenue derived from licensing 1,000 bots to
travel suppliers
10,000 subscribers who book 1,500 flights each
10,000 subscribers represents 10% of the available 100,000 registered travel agents in the US
SCALABILITY
Over 280 airlines could join the Bacarai community, all serving millions of passengers. We are also developing a hotel and cruise solution.
Like all SaaS applications, Bacarai will be easily scalable.
INVESTMENT
Bacarai has signed an MoU with NeurSciences to fund the initial build of the Bacarai platform and operation for 2 million dollars
IMPLEMENTATION
OCTOBER 2017
NOVEMBER 2017
MARCH 2018
Bacarai’s initial market research and platform development begins
Bacarai signs an MoU with technology partner, providing access to develop independent AI agents that perform actions in the travel space
Bacarai begins platform feature list and required performable actions
SUMMER 2018
FALL 2018
SEPTEMBER 2018
Begin pitching strategic partners to join our project (airlines, hotels, cruise lines, GDS)
Begin programming our AI agents to perform actions on behalf of travel suppliers
Begin building Bacarai’s web platform and related API’s
FEBURARY 2019
SPRING 2019
SUMMER 2019
Begin touring a demonstration of our initial platform
Start the on-boarding process of interested travel suppliers.
Launch the full platform, begin acquiring users/buyers.
THE TEAM
Bacarai’s roots are planted in group travel. The team comes from The Air Travel Group, INC Magazine’s fastest growing travel company in 2017 with a growth rate of over 5,300%
Kenny TottenEric Peterson Caitlin Busscher Charlie Northrup
As founder and CEO of The Air Travel Group, Eric carved a niche in the group travel space by creating INC Magazine’s fastest growing
company of 2017. Prior to launching The Air Travel Group, Eric spent the early part of his career in
the student tourism industry.
Kenny led the effort in diversifying The Air Travel Group’s product offerings by creating two new
divisions in addition to directing the build of ATG Connect, the group air travel management
platform in which serves as the early framework for Bacarai.
Cait joins the team after seven years with the Walt Disney Company. In addition to 5 years of operations
management experience, her two year term as official representative and
spokesperson for the Walt Disney World Resort sharpened her communications
and public relations skills.
Business Development Product Design & Branding
Charles Northrup is a serial inventor, author, and member of 10X Venture Partners in Merrimack, NH. After exiting a significant
patent portfolio in 2007, Northrup spent the next 10 years working on his patent-
pending Thing Machine and Graph Machine while refining his vision for NeurBots as machines with robotic consciousness.
Communications Advisor
WHY NOW?Developments in AI will change the way businesses interact with their customers, making it easier and more efficient to serve customers & build brand loyalty.
Unlike the rest of the industry, the group travel sector lacks the technology to operate online. The current process is a nightmare for passengers, airlines, and agents alike.
Our technology will propel group travel into the future, making it easier for consumers and suppliers to interact directly with one another in real time—eliminating wait times, decreasing costs for airlines, and ultimately enhancing the passenger experience.
Bacarai is more than disruption.
It’s transformation.
