- New survey reveals well over a third of travellers have had to pay more to make alternative travel plans following a delayed flight
- Nearly two thirds would be likely to use an app which alerted family, friends and work colleagues if their flight was disrupted
- Cirium, the aviation data and analytics experts, say flight delays and cancellations cost airlines over US$30bn a year
Over a third of global travellers (36%) say they don’t get enough information about delayed and cancelled flights, according to aviation and data analytics experts at Cirium.
A new survey for Cirium reveals the impact of flight delays and cancellations and the need for better management of flight disruption, with more communication via proactive flight updates for affected passengers.
Almost two thirds (61%) of those surveyed said that they would be likely to use an app which alerted their friends, family or company about their delay.
In 2018, approximately 3.9 million flights – or 10,700 a day – were delayed by over 30 minutes or cancelled globally, affecting more than 470 million passenger journeys around the world.
Flight delays and cancellation cost airlines globally US$30bn a year in lost revenue, in addition to costs borne by their passengers.
Airline flight delays and cancellations are caused by a wide range of factors, such as technical issues with aircraft, bad weather, air traffic control problems, strikes, medical diversions and congested airports, among many others.
The global YouGov study conducted for Cirium in the UK, US, UAE and China, showed more than a third of travellers worldwide (35%) who had experienced a delayed or cancelled flight, did not find it easy to change their travel plans, with well over a third (40%) left out of pocket after being forced to pay more to make alternative travel plans.
Airlines also had to bear the massive cost of disruption with flight delays and cancellations costing the equivalent of US$7 for every departing passenger – slightly less than the airline’s net profit per person per departing flight.
Jeremy Bowen, Cirium Chief Executive Officer, said: “Flight delays and cancellations are an unfortunate aspect of modern air travel and can have a big impact on travellers, whether flying for business or leisure. We recognize that the cost of disruption for airlines is also a significant problem. While our survey reveals well over a third of passengers still have to pay more for alternative travel plans, airlines can proactively issue flight alerts ahead of travel and re-allocate tickets without fees to take the sting out of flight disruption. We all want to travel stress free and get people to where they want to go, which is why at Cirium we work closely with airlines around the world on initiatives which reduce the impact of disrupted flights.”
The survey revealed nearly two thirds (57%) of those polled only found out about their flight delay or cancellation once they had reached the airport. When asked 29% said that they would prefer to be informed about a delay through a text alert with another two thirds (61%) saying they would use an app which alerted their friends, family or company about their delay.
More than double (48%) said that they would be most frustrated if their leisure flight was delayed or cancelled compared to the 21% who would be most frustrated if a business flight was cancelled.
Over a third of global travellers would be most sympathetic if a flight was disrupted due to bad weather (35%) followed by technical issues with their aircraft (30%). However, only a tiny 5% would be most sympathetic with delays or cancellations due to problems caused by air traffic control.
Cirium enables the wider travel industry to manage the impact of disruption with intelligent data and analytics solutions. For example, Cirium analyzes more than 70 million passenger journeys annually to provide meaningful insights and keep the travel industry in motion.
This data is used by a wide range of customers, such as airlines and airports, to improve the travel experience by smart devices and metasearch engines, like Google, Amazon and Expedia, to provide information directly to passengers, enabling them to make more informed choices when on the move.
Cirium’s data and analytics divisions have been the first to bring innovative solutions to market, such as the first to automate the ticket waiver process during times of flight delays and cancellations.
It employs over 400 technologists, analysts, data scientists and market experts in the UK, US, Europe, Middle East, Indiaand Asia-Pacific.
The group has significantly grown in recent years with the acquisition of leading data intelligence companies, including Ascend, Innovata, Diio and FlightStats.
Wirex Launches Enhanced Cryptoback™
Today, payments platform Wirex launched a supercharged update of their revolutionary Cryptoback rewards programme. Customers can now earn up to 1.5% back in Bitcoin on Wirex Visa card purchases.
Released in 2018, Cryptoback was the world’s first rewards programme that paid out 0.5% in cryptocurrency for all in-store spending with the Wirex Visa card. Thanks to the recent launch of the Wirex Token (WXT), customers can now triple the amount of BTC they earn – making investing in cryptocurrency easier than ever before.
Depending on the amount of WXT held, in-store Wirex card purchases now generate up to 1.5% in Bitcoin. There are three levels of crypto rewards available:
- 500,000 WXT = 1.5% Cryptoback
- 100,000 WXT = 1.0% Cryptoback
- 50,000 WXT = 0.75% Cryptoback
Wirex have calculated that the average UK consumer stands to earn more than £300 in Cryptoback every year, just by using their Wirex Visa card for day-to-day spending. Unlike many other cashback programmes, Wirex doesn’t impose restrictions on what customers can do with their rewards. Cryptoback can be redeemed instantly into their Bitcoin accounts, or quickly and easily exchanged into fiat for spending.
Enhanced Cryptoback is just one of the ways that holding Wirex Tokens allows customers to get even more out of their account. They can also enjoy heavily discounted fees based on the same structure, with access to premium products, merchant offers and airport lounges coming soon. As Wirex co-founder Pavel Matveev explains:
“We created the Wirex Token to be something that provides tangible value and benefits for holders beyond its market trajectory. Enhanced Cryptoback is the perfect example of this, as it allows customers to earn and invest in digital currency with a minimum of fuss. We’re looking forward to introducing even more benefits for WXT holders soon.”
MIT-IBM Watson AI Lab Convenes Top Researchers for Second Annual AI Research Week
The MIT-IBM Watson AI Lab (NYSE: IBM) is hosting its second annual AI Research Week, September 16-20, in Cambridge, MA. The five-day conference will explore leading themes in today’s field of AI including neurosymbolic computing and semantic reasoning in machine learning, AI security and safety, inclusive design of AI for all communities, trustworthy and explainable AI, and industry applications of AI.
The MIT-IBM Watson AI Lab is a joint research effort to drive fundamental advances in artificial intelligence. Since its founding in 2017, the lab has become an integral component of IBM’s AI Research strategy and is spearheading 48 AI-related research projects.
Dario Gil (Director, IBM Research), joined by top AI researchers:
- Yoshua Bengio (A.M. Turing Award Winner and Pioneer of AI and Deep Learning)
- Josh Tenenbaum (Professor, Dept. of Brain and Cognitive Sciences, MIT)
- Laura Shulz (Dept. of Brain and Cognitive Sciences at MIT, Primary Investigator of the MIT Early Childhood Cognition Lab)
- Roger Levy (Associate Professor, Dept. of Brain and Cognitive Sciences at MIT, Director of the Computational Psycholinguistics Laboratory)
Additional discussions will feature David Cox (IBM Director, MIT-IBM AI Watson Lab), Lisa Amini (Director, IBM Research Cambridge), and Antonio Torralba (MIT Director, MIT-IBM AI Watson Lab), addressing key topics including: progress of the MIT-IBM AI Watson Lab to date and future goals; transitioning AI research to industry; and self-supervised learning of AI.
The conference will also showcase research and thought leadership from scientists and students affiliated with Massachusetts Institute of Technology; the University of California, San Diego; the University of Maryland, Baltimore County; the University of Illinois, Urbana-Champaign; Boston University; Rensselaer Polytechnic Institute; the University of Montreal; the University of Massachusetts, Amherst; and the Cambridge and Boston community.
AI Research Week is a technical conference featuring top AI thought leaders from around the world sharing the latest insights on the field of AI. The five-day gathering will also consist of panels, workshops, networking and mentorship all geared towards forging new ideas and discussion around advancements in AI.
WHEN & WHERE:
September 16-20, 2019, times for events vary. AI Research Week events will be held at MIT and IBM in Cambridge, MA. While many events will occur at the MIT Samberg Conference Center, 50 Memorial Dr, Cambridge, MA 02142, it is best to check the schedule for specific event locations and times.
Monday, September 16: Kick-off the week with a poster and networking session where researchers from the MIT-IBM Watson AI Lab and IBM’s AI Horizons Network of university collaborators will showcase projects underway that are shaping the future of AI.
The afternoon will feature a round robin event designed to help match various student communities in the Boston area with a mentor, specifically those in Latinx, BlackinAI, Women in Machine Learning, and LGBTQ. This session will include 15 tables, each with a different topic, and mentors from IBM, as well as other speakers from AI Research Week, designed to connect students with a mentor.
Tuesday, September 17: Yoshua Bengio, full professor and head of the Montreal Institute for Learning Algorithms (MILA), University of Montreal, and Dario Gil, Director of IBM Research, begin the AI Horizons Colloquium with a Welcome Address, followed by a full day of talks and discussion featuring AI experts from academia and industry.
NOTE: The Colloquium (all day) will be livestreamed here.
Other Colloquium speakers include:
- Saska Mojsilovic, head of AI Foundations, IBM Research and Co-Director of IBM Science for Social Good, will discuss how people can begin to trust AI.
- Collin Stult, Professor of Electrical Engineering and Computer Science Institute for Medical Engineering and Science and MIT faculty at Harvard-MIT Division of Health Sciences and Technology Cardiologist, will discuss whether useful machine learning will be used clinically in the near future.
Wednesday, September 18: The NASA ISS Program Science Office and the ISS U.S. National Laboratory, along with IBM Research, will launch a unique opportunity to learn about the International Space Station. Guests will be able to speak with representatives and researchers about the future of AI intersecting with the future of research in space. The event also includes a competition and special session where researchers and students can pitch “ISS meets AI” project ideas to a panel of space experts from NASA, the ISS, IBM, and MIT.
AI Operations Leader, ThroughPut.AI, chosen to present at the esteemed Plug and Play Japan Summit for IOT and Mobility in Tokyo on September 19th, 2019
ThroughPut Inc., the Artificial Intelligence (AI) Supply Chain pioneer that enables operations to increase output, quality, throughput, profitability and safety through automated bottleneck elimination, today announced their presentation and participation of their COO and CTO at the Plug and Play Japan IoT and Mobility Summit and EXPO in Tokyo, Japan on September 19, 2019. As a Plug and Play portfolio company, ThroughPut has been one of the most active global members of the Plug and Play ecosystem, being awarded to participate in multiple cohorts and events at Plug and Play Sunnyvale, Berlin, Milan, Frankfurt, Cleveland, Japan, and elsewhere, spanning diverse topics including application of AI, Data and Analytics to Industrial Manufacturing, Operations, Supply Chain, Logistics, Transportation, Mobility, Industry 4.0, Oil and Gas, Food and Agriculture, and more.
“As the leading AI platform for Operations using existing data systems, ThroughPut is honored to be an active contributor to the Plug and Play Japan Mobility Batch 3 cohort,” noted Ali Raza, CEO of ThroughPut. “Our executive team is excited to present to over 1,500 Japanese corporate executives, resellers and partnership leaders at the IoT and Mobility Summit next week in Tokyo on September 19th, as well as consequent meetings that week.”
Plug and Play runs 15 industry themes across more than 50 accelerator programs a year in cities across the world. Plug and Play’s Japanese arm has accelerated four leading-edge industry programs, and awarded participation to 69 pioneering technology start-ups and 31 corporate leaders, including MUFG, Tokyu Land, Sompo, Nissan, Hitachi, Panasonic, Fujitsu, Fujikura, DENSO, NipponLife, Dentsu, ADK, Nittsu, Norinchukin Bank, Orix, Macnica, Sumitomo, J-Power, Suzuki, SMFG, NEC Solution Innovators, Aflac, Asahi HD, Coca Cola Japan, AISIN, Kyocera MKI, Tanabe, Toshiba Tec, JXTG Energy and Shimadzu. This year’s Summer / Fall Summit is expected to receive an even greater response from startups and corporations across Japan, Asia and even further overseas.
“We are very excited to continue building upon our strong client and partner relationships in Japan“, responded Seth Page, COO of ThroughPut and eight-time entrepreneur, while adding, “Plug and Play has opened up unique opportunities for collaboration with corporate partners, clients and investors around the world, bringing together the brightest minds in the industry on a single business platform. In Japan, we are showcasing our unique capabilities to a host of reputed industrial and global corporate titans, while also acquiring valuable insights from other fellow global thought leaders through participation in the Japense Mobility program and event. We look forward to continuing business discussions with market leaders in Japan next week and especially at the IOT and Mobility Summit in Tokyo on September 19th, as well as the Smart EXPO in Nagoya on September 18th.”
Bhaskar Ballapragada, CTO of ThroughPut, commented as well, “The time is ripe for industries to leverage the value of Artificial Intelligence on top of the decades of disaggregated data they’ve been collecting in-house. ThroughPut’s ELI Kaizen-AI product gives unprecedented power to a firm’s own operations managers. AI-enabled, data-driven analysis and executable insights to eliminate bottlenecks in real-time now enable the management of seamless operations across their end-to-end supply chains. In our mission to eliminate the $10 Trillion dollars of annual global industrial waste, we are reaching out to as many industries and companies to test for themselves our ELI product and enable them to experience firsthand the power of their own data with AI, and realize the quick ROI that comes with freeing-up working capital from operations by investing in ThroughPut’s ELI.”
SOURCE ThroughPut Inc.
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