A survey by VenueNow discovered 91 per cent of venues are not using AI to manage event enquiries and 53 per cent of corporate customers are not using AI to find, organise or manage events.
The survey of corporate event planners and venues across Australia and New Zealand found that 71 per cent of corporate customers spend more than five hours sourcing and booking a venue for each event, with 44 per cent taking between five and 10 hours, 19 per cent between 10 and 20 hours, and eight per cent more than 20 hours.
VenueNow CEO Jake Dimarco (pictured) said technologies powered by AI have the potential to transform how events are organised and run on both sides, by taking on many of the time-intensive administrative tasks that drain productivity.
“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.”
Dimarco said the need for efficiency gains is particularly pressing as event planning responsibilities now span a broader range of roles.
The research also revealed three quarters of events are booked within six months of the event date, with 44 per cent locked in three to six months out, and 31 per cent within less than three months – signalling short lead times and fast turnarounds. Meanwhile, the majority of organisers (59 per cent) reported a shift towards smaller, more frequent meetings and conferences, reflecting how corporate events are evolving in both scale and structure.
When it comes to the biggest challenges facing planners, cost emerged as the top factor (52 per cent), followed by a perceived lack of venue availability (22 per cent). For venues, it was price sensitivity among bookers (54 per cent) followed by a reduction in enquiries (42 per cent).
The survey, conducted by VenueNow captured responses from 319 corporate event planners and 131 venues across Australia and New Zealand. Corporate customer respondents represented industries including professional services, healthcare, education, finance, government and hospitality, with venues spanning hotels, bars, conference centres, stadiums, breweries and retreats.