Linchi Kwok, Ph.D.

Airbnb , along with other room-sharing websites, provides a cyber marketplace for innovative entrepreneurs to operate a lodging business without following the strict regulations that usually apply to hotels and hostels . For instance, While room-sharing websites provide pricing tools and guidelines to the hosts (entrepreneurs) who renting out extra space, it is still up to the hosts to decide what price they want to charge for the service provided (i.e., the price positioning strategy ) and whether they want to adjust the price on a regular basis according to the fluctuating demands from the travelers (i.e., the dynamic pricing strategy ). In fact, the impacts of price positioning and dynamic pricing on a listing’s revenue performance or even on the neighborhood hotels’ revenue performance have been identified. Moreover, hosts on room-sharing websites have the rights to decline a traveler’s request for a stay based on the traveler’s information posted in the online market...

As a means to fulfill travelers’ accommodation needs, room-sharing websites compete directly with hotels and OTAs (online travel agents, such as Expedia or Priceline ) in the lodging market. Even though Airbnb is now also getting into the real estate market with investments in residential-rental-ready buildings, most room-sharing websites work like an OTA --- for the most part, they provide an online marketplace where hosts list their underutilized space and travelers find a place to stay. Their profits and success rely on the transactions among the hosts and travelers . Room-sharing websites not only want more travelers to use their service to book a stay as travelers but also want more people to list the underutilized space on their platforms as hosts. They want to help hosts gain more profits over time, allowing them to attract additional hosts and keep their existing hosts happy. Airbnb , for example, introduced the “ smart pricing ” tools to assist hosts in adopting th...

AI (artificial intelligence) and machines can now perform many jobs for human beings . Even in the restaurant business, where most tasks are believed only real human beings can accomplish, some entrepreneurs have already begun using machines to cook and serve customers . AI can help businesses manage their human capitals too. According to an update on CNBC, AI can help companies pick the best candidates Traditionally, the hiring and selection process would typically begin with candidates applying for a job. After the first screening by the hiring or HR managers, the candidates will then be invited for a series of phone or on-site interviews. When the assessments of all candidates are completed, an offer will finally be made to the best candidate.     Using AI, companies can now pick the best candidate without involving any hiring or HR managers. The hiring process becomes: ·       A candidate applies for a position online...