Cvent CEO Urges MICE Industry to Embrace the Fourth Industrial Revolution
Advanced technologies offer opportunity to make meetings and events more engaging, more strategic, and more impactful than ever before
Cvent CEO and Founder Reggie Aggarwal kicked off the second annual Cvent CONNECT Europe conference today in London with a call to event and hospitality professionals worldwide to embrace new technologies that are part of what is being hailed as the Fourth Industrial Revolution. Biometrics, artificial intelligence, the internet of things (IoT), facial recognition, and machine learning were all highlighted as elements of this new technology-fuelled era that will have a profound effect on the meetings and events industry worldwide.
As the market leader in meetings, events, and hospitality technology, Cvent has been a pioneer in the industry since its inception nearly 20 years ago. Aggarwal stressed the importance of continuing to innovate and provide value for Cvent's more than 25,000 customers worldwide. "As the global leader in event technology, it is imperative that we welcome the Fourth Industrial Revolution and capitalise on the incredible technological advances that are going on around us. Our technology team of more than 1,300 people are constantly working to stay ahead of the curve, and we are putting more resources into research and development than anyone in our space - which allows us to be the most innovative technology company in our industry."
Cvent is already developing solutions and working with other leading brands to utilise and experiment with these technologies. Here are two examples of the Fourth Industrial Revolution in practice:
Artificial Intelligence and Machine Learning
For hospitality professionals, Cvent has launched their Lead Scoring tool, which applies machine learning and artificial intelligence to help venues and hotels prioritise, evaluate, and route the more than 25 million requests for proposals (RFPs) Cvent estimates will be sent this year alone. The solution is already helping flagship hospitality brands around the globe respond to meeting planners more quickly, helping them win more business faster than ever before.
Aggarwal highlighted a recent example of a Fortune 100 Cvent customer that used facial recognition to check-in more than 5,000 attendees at a recent event. Not only was there a significant time savings from embracing this innovative tactic, but the attendee feedback illustrated how the traditionally mundane task of event check-in was transformed into an experience that was both memorable and unique. It was such a success that the facial recognition technology will be used for the customer's flagship event for over 40,000 people.
"Large technology shifts like the one we are currently experiencing often bring with them an element of fear. But this new era should be seen as an opportunity to reach new heights - to reach new levels of success. It is incredibly exciting to be at the forefront of this revolution. To witness the positive impact that these technologies are already making on the meetings and events industry bodes well for widespread adoption. This revolution will fundamentally alter the way we live, the way we work, and the way we connect to one another, and we're dedicated to helping our customers navigate the next industrial revolution to maximise their potential through technology," concluded Aggarwal.
Cvent is the global meeting, event and travel technology leader. Cvent offers software solutions to event planners
for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and
web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase MICE business
demand through targeted advertising and improve conversion through proprietary demand management and business
intelligence solutions. Cvent solutions optimize the entire event management value chain and have enabled clients
around the world to manage hundreds of thousands of meetings and events.
On November 29, 2016, Cvent announced that it had been acquired by Vista Equity Partners. In addition, Cvent and Lanyon Solutions also announced the merger of their two companies, creating a global meeting, event and travel technology.