Micenet Report: Survey finds planners and venues not using AI, despite its rise

Venue sourcing platform VenueNow surveyed 319 corporate event planners and 131 venues in September and October, discovering that a slight majority of event planners are not using AI during the planning process, while a staggering 91 per cent of venues are not using AI to manage event enquiries.

The survey also took stock of the time venue finding consumes, with 71 per cent of corporate planners spending more than five hours on the task, 44 per cent taking between five and 10 hours to find a venue and almost one fifth – 19 per cent – investing 10 to 20 hours to lock in a venue.

VenueNow’s CEO, Jake Dimarco, believes AI can be leveraged to streamline various parts of the event management process.

“In the business world, AI is no longer the monster under the bed. It’s the trusty sidekick that complements your daily tasks and makes your life a lot easier,” he said.

“The events industry has huge potential to reap the benefits of AI, both in terms of saving time and improving processes. It can assist with everything from forming event checklists to finding the perfect venue to navigating quote comparison and negotiation with venues and suppliers.

“The technology also aligns with the preferences of the digitally-led Gen Z, helping to attract and retain professionals and ultimately take the industry into the future.”

VenueNow has an AI assistant called Vera integrated into its website that can help event managers find potential venues that fit their brief.

The VenueNow survey also dug into other trends and issues amongst planners and venues, revealing short lead times remain very much a thing, with three quarters of venues booked within six months of an event.

There is also a dichotomy of challenges between planners and venues, with cost being the largest challenge for planners while the price sensitivity of buyers was the chief issue for venues.

Credit: micenet. © 2024 Business & Tourism Publishing Pty Ltd