Quantaco has recently established a groundbreaking partnership with the University of Sydney’s School of Economics. This collaboration focuses on leveraging AI and data science to advance the hospitality industry. With Professors Vladimir Smirnov and Andrew Wait, along with PhD students specialising in time-series forecasting, the partnership aims to harness combined expertise to drive innovation and practical solutions.
Key Elements of the collaboration:
- Research and Development:
- The partnership is dedicated to pioneering research in AI and data analytics, with a focus on developing innovative solutions for hospitality operations. This includes creating new algorithms, machine learning models, and advanced data processing techniques tailored to the industry.
- Knowledge Sharing:
- Emphasising a robust exchange of knowledge, Quantaco professionals and university researchers engage in collaborative projects, joint publications, and active participation in conferences to disseminate findings and insights.
- Industry Solutions:
- By blending academic rigor with industry expertise, Quantaco aims to craft practical technology solutions addressing complex business challenges. This includes enhancements in onboarding, venue operations, financial reporting at both group and venue levels, and insightful business intelligence driven by AI models.
- Innovation Hub:
- Our hub serves as a place where new ideas and technologies are rigorously tested and refined. This environment fosters continuous improvement and technological advancement, driving the hospitality industry forward.
Investing in AI: Enhancing Quantaco’s Platform
Over recent years, Quantaco has made significant investments in AI, integrating these advancements into our platform to deliver substantial benefits to our clients. The partnership with the University of Sydney further accelerates our capabilities in this space, enhancing the predictive accuracy of our forecasting models by considering variables such as seasonality, specific events, and geo-location.
Key Insights on AI at Quantaco:
- AI-Driven Solutions: AI provides immense opportunities, especially when focused on specific problems. The solutions we develop are born from extensive data analysis, leading to highly accurate and practical applications.
- Forecasting Capabilities: By embedding AI into our forecasting tools, we utilise historical data to identify trends, refining our predictions to account for seasonality, significant events, and geographical factors.
- Expert Guidance: AI is most effective when guided by experts who understand the context and can critically analyse the output. Our team ensures that the AI solutions we develop are grounded in practical expertise.
Partnership Outcomes: Expediting Innovation and Improving Predictability
Our in-house team has been progressively developing AI capabilities, and the partnership with the University of Sydney expedites these advancements. The combined team’s initial focus is on enhancing the predictability of forecast outcomes, considering the substantial external variability impacting sales conditions, such as weather, public holidays, and local events.
This collaboration not only strengthens Quantaco’s technological foundation but also ensures that our clients reap the benefits of cutting-edge advancements, driving improved performance and operational excellence in the hospitality industry.
By fostering a dynamic and innovative environment, Quantaco continues to lead the way in AI and data science, delivering exceptional value and insights to our clients.
