Collection and analysis of data
No one would object that we leave sufficient amount of data in our everyday lives. The information about websites we visit, advertisements we react to, purchases we make, posts we post in social networks and much more things tell the marketers a lot about our consuming potential. This is why data collection and analysis have become crucial in optimising marketing performance. It is illustrated by the fact that the last year’s worth of the global data market was $49 billion. Furthermore, it is expected that by the end of 2027, that number will reach $103 billion. It is expected that this year the number will increase two times.
In the gambling industry, data is the same crucial. Gambling companies invest money and efforts in data collection and analysis, since this industry is closely connected to statistical probability. If casino operators and software developers are informed about the needs of their potential clients, it is a huge advantage for them.
Human brain cannot beat a computer in calculating. In fact, we are overloaded with information we cannot analyse. Therefore, artificial intelligence software can become a perfect help in analysing consumer habits and predicting what products will be interesting for them in future.
More accurate probability
Another aspect where artificial intelligence can bring benefit to the gambling industry is creating odds. With skilful experts analysing data collected by artificial intelligence software, online casino operators can provide players with highly realistic odds.
Needs to be said that not only operators can use artificial intelligence engines. There are services that can be used by players. For instance, Sharkscope analyses online poker data and provides statistics, so that players could win more often and larger sums.
Beware of bots
A coin has two sides, though. Not only useful help can AI bring: bots have already learned how to win a real person. This became possible due to artificial intelligence software have learned now to continually adapt to their human opponents.
Not far to seek, in January 2017, the artificial intelligence program “Libratus” created by a Carnegie Mellon University professor and his PhD student managed to beat famous poker players Jimmy Chou, Daniel McAuley, and Dong Kim.
In case bots are used solely to beat human players, it harms the gambling industry, influencing prices and interest of players.
Cure for addiction
Much of controversy about gambling relates to the issue of addiction. With the development of AI, the situation can improve considerably. For instance, the software BetBuddy, can identify a player who is inclined to addiction and prevent negative consequences before the problem becomes too serious. Solving this issue will impact the whole industry in a positive way.
Covering larger audience
According to the Gambling Commission’s report of February 2017, the most common age framework of people participating in gambling activities is 35-64 years. With the expansion of such kind of artificial intelligence as virtual reality, this framework can include younger age, since younger generations have more interest in the digital and VR in particular. It has been found that the younger the person is, the more he or she prefers playing online over playing offline. Therefore, it is more likely that younger people will spend time on gambling.
The invention and constant development of artificial intelligence have large potential in the gambling industry. The existing inventions are already shaping it, and future inventions will surely continue bringing changes.
In 2020, using neural networks to process vast amount of data is more affordable than ever and companies in the iGaming sector are always on the lookout to find new ways to integrate artificial intelligence into the gambling industry.
One of the latest trends involves using AI to create a personalised customer experience for the players, allowing AI to automatically provide you with your favourite games based on your data.
AI can also be used to analyse data and track irregular playing patterns, thus preventing players from cheating or taking advantage of casino bonuses. In other cases, instead of relying on somewhat outdated chatbots that sometimes have difficulties answering our questions, AI can be used to create always-available customer support that is easy to use and can even offer solutions.