Artificial intelligence is no longer a thing of the future. The technology we’ve been bombarded with in old Sci-Fi movies now exists and has been pushing our society forward for the better part of the last decade. Numerous industries are actively using artificial intelligence for various processes, bringing forth the next generation of supercomputing to help solve even the most complicated of tasks.
Perhaps the word “using” isn’t exactly the best fit here. We’ve reached the point where industries aren’t “using” AI; instead, AI has become a living part of their ecosystems. In a way, artificial intelligence is changing industries across the board, bringing in new, innovative approaches, finding unique, useful data, and analyzing behavioral changes of everyone involved in the business processes. The business processes of the specific niche the AI system is deployed in, to be more precise.
Believe it or not, the gambling industry is among the few getting the most out of AI. The implementations of artificial intelligence in gambling, and online gambling to be more specific, are both plentiful and diverse.
That’s said, let’s dive deeper into the matter at hand and take a closer look at the four ways AI is changing online gambling!
Four Ways AI Is Changing Online Gambling
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Online gambling is a massive market, packed with complex business processes ranging from risk management, client acquisition, and regulatory obligations, all the way to software solutions, and market coverage.
Artificial intelligence is already being used across a number of areas within the online betting niche, helping it reach even bigger numbers with each passing year. That said, if you gamble at any of the major online gambling sites, chances are you’ll eventually stumble across one of the following AI systems.
AI-Based Gambling Predictions Platforms
The internet is packed with gambling predictions platforms promising massive winning sprees and filling up your bank account with cold hard cash. Most of them are free of charge, feeding off affiliate deals with online bookmakers, with the predictions written by gambling experts with years of experience in the niche.
However, the industry has recognized a growing new trend—AI-based gambling predictions platforms. Instead of industry experts or ghostwriters, these platforms rely on artificial intelligence systems to crunch all available stats and come up with high-value predictions. And we’re not just talking about outcome predictions, but a wide variety of special bets too, all courtesy of readily available stats combined with complex AI systems.
Recommendation Engines
The simplest way to describe AI is “pattern recognition on steroids.” AI is far superior to conventional analytical frameworks, can effectively detect non-linear relationships and come to valuable conclusions with far less data.
That’s why the online gambling industry incorporates AI in its sophisticated recommendation engines. These days, top-tier bookmakers have AI systems tracking users’ behaviors, on-page navigation, their gambling habits, and games/sports they spend the most time on. By using this data, AI-based recommendation engines influence gamblers and effectively make them spend more time and money on their platform.
Risk Management
Risk management is probably the first thing you thought of when we mentioned artificial intelligence being used in the gambling industry. Thanks to complex AI systems and sophisticated algorithms, bookies have a much better grasp over risk management.
Risk management is basically a way of safeguarding your online gambling business and increasing overall profitability. These RM systems follow players throughout their gambling endeavors and collect valuable information that manual labor could never do on its own.
AI-Powered Customer Service
Whether we’re talking about contact forms, telephone, or live chat, customer support experience can be a frustrating one. Bots aren’t the most clever, and they can easily drive us mad with their incoherent responses. Luckily, AI-powered customer service is slowly (but surely) replacing the age-old bots. These AI CS systems have access to customers’ gambling habits and are capable of indulging in personalized and relevant conversations with the users, which greatly helps their problem-solving efficiency.
In addition to AI-powered customer service, a new type of customer-friendly, AI-driven gambling platform has emerged onto the scene. Player Safety Early Detection Systems (a.k.a. PS-EDS) are focused on early detection of bad gambling habits. By tracking the way players gamble, when they gamble, and how much they gamble (both time-wise and money-wise), they can effectively prevent full-scale gambling addiction with admirable accuracy (close to 90%).