Thursday, May 30, 2024

Digital Transformation in Business with AI

AI is a short abbreviation for Artificial Intelligence, incorporating the best automation in today’s world. Via the usage of AI, the gambling industry has seen many advancements, some related to marketing, some to fraud detection, and others simply giving you the best gambling experience that you, the punter, could ever wish for.

Although we have experienced tons of AI advancements in the gambling industry, the revolution is still incomplete, with AI working overtime to deliver the best new casinos 2023. Today’s AI will be much different than the AI we will see in 10 years, which translates into 1 thing: a better gambling experience.

Below we list some of AI’s impacts on our beloved gaming industry, with many more tech highlights still on the horizon to make our gambling life simpler.

How does Artificial Intelligence work?

Let’s say you open your laptop today and buy a pair of boots online. The next day that you will use your laptop again, you will get ample pop-ups luring you to sites that sell boots similar to the ones you ordered. Did you visit these sites before? No, but purchasing that pair of boots triggered your data to show you other boots you might be interested in; a technology powered by AI

The same notion occurs when you visit your favorite online casino. You start playing a slot machine, and then the site gives you other options of slots that you might also like. AI has revolutionized the gambling niche into a dynamic market, so below, we list some of its impacts and possible future advancements.

Responsible Gaming

Responsible Gaming is a high-priority task for every gambling site. Making sure that the player is treated with responsibility is a key KPI for most gambling holding both UKGC and an MGA license. The gaming operator commits to deploying anti-problem gambling initiatives to safeguard player safety, which is a pledge that they make when they are awarded a gambling license. Failure to comply could result in the company’s license being revoked with hefty fines being imposed.

Gambling companies use AI and Big Data technologies to monitor gambling patterns and also wager on any interventions that might be needed. Using players’ data, gambling sites can stop gambling addictions from forming. Major gambling companies such as Entain, Leo Vegas and Betfred have been fined for failures.

Player Lifecycle

A casino or sportsbook player’s relationship with the gambling site kicks off the minute the player opts to register at the site. Following registration, every choice one makes will impact the overall UX (Customer Experience) received from the gambling site. Let’s say you are a live casino enthusiast and binge on some of the best live games delivered by Evolution Gaming. Today you could play Live Roulette, and the next day you could be tempting your luck at Blackjack. Without you knowing or realizing it, the gambling site will identify you as a live casino guru and tailor the game suggestions and the loyalty/promos according to your interests.

AI is a strategy that heavily impacts the casino marketing sphere and also retains players in the said gambling site in the process.

Chatbots Customer Support

You will find many online casinos that deploy a customer support team on a 24/7 basis.  Others, possibly startups, have fewer hours available to offer their support. Having Chatbots available via chat service is a way to help players and offer support before speaking to a live customer service representative. Let’s say, for example, you type the word ‘Registration’ via chat, and the automated chatbot detects that you might be facing some issues with registering to the site. The Bot will develop articles and site procedures to facilitate the registration process and pick up on any keywords typed in your answer. This is the power of AI; it assists you immediately, without speaking to a Customer Care representative and offering a quick resolution to your issue.

In the future, if AI wants to take things a step further, Chatbots could easily detect previous languages used by you and offer chat support in your pre-detected language.  Something to think about and offers a better customer experience.

Real-Time Live Betting Odds Movements

Sportsbook sites are gambling sites where players can bet on sporting events are tournaments happening across the globe. As you might imagine, sports betting odds are impacted by several contributing factors, such as team spirit, team ability, home and away games, injuries, transfer markets etc. Before AI influenced the sports betting industry, an odds maker would need to physically post and change odds during a live sporting event. The process was tedious and lengthy, with many bettors being altogether put off gambling at the site. In barges, AI uses various algorithms to change the odds automatically, with no delays, and without players taking advantage of initial favorable odds. So, AI assists betting companies in diminishing labor costs and making money in the process.

The Future of AI

While Artificial Intelligence has impacted the gambling industry widely, we are sure it will continue contributing towards growth and player retention. In 2022, the Council of Europe issued guidelines on AI and Data Protection, so we envisage that this will contribute to how gambling sites use AI. The key takeaway from this is the protection of human rights, fairness and abiding by the law at all times, all effects felt in responsible gambling.

Face Recognition and Virtual Reality are two other main elements that will see AI impacting. While now you log in to a gambling site using your username and passwords, the future might see you sign in via voice or face recognition. Something that will save us some time that is for sure.

We, gambling enthusiasts, will continue to welcome the joy that AI brings to gambling, making our lives easier and more relaxed.

Sam Allcock
Sam Allcockhttps://www.abcmoney.co.uk
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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