How Artificial Intelligence is Changing the Gambling Industry
With cut-throat competition and the industry facing legal challenges world over, online casinos are focused on offering new solutions that improve service quality and draw more customers to grow their revenues. One of these solutions is artificial intelligence (AI).
Artificial Intelligence (AI) is the new tech frontier. Every industry is finding a way to take advantage of the technology. Gambling industry is no exception.
The self-learning gaming system was originally developed by Arthur Samuel, an IBM engineer, in the 1950s. It has since substantially evolved.
AI Applied in Gambling
AI applications provide casinos with a competitive edge and enhance interaction between operators and their clients. To draw maximum benefits, most industry players have integrated the systems in the following ways:
Chatbots: These are mobile robots that handle multiple tasks. They answer questions and in various languages, and generate automatic newsletters and other informational materials. With these features in place, online casinos save millions that would have otherwise gone to the staff who would handle such tasks.
Also, these bots can be used to load accounts, auto-bet, and carryout other orders.
iGaming operator ComeOn Casino is employing a customer support team of over 80 agents. The question is, is this the future?
In some casinos, these bots act as opponents. They can study the players, identify their weaknesses and exploit the advantage. In 2017, Lbratus, one such bot, played and won against poker professionals.
AI study and deliver according to customer needs
Some sites have developed AI platforms that provide their customers with specific products based on what the customer needs. These systems analyze the gamblers' behaviour and provide products that are aligned with their interests.
Addressing the gambling addiction problem
Today, the iGaming industry pays great attention to the fight against gambling addiction. With most authorities struggling to fight gambling addiction, AI is standing out as the perfect antidote for the problem.
PowerCrunch, designed by BetBuddy, is one such solution. It collects, analyzes, and process the player data then determine the player's social behaviour. It determines the impacts of gambling on that player and whether they can suffer from gambling addiction or not. With the system's 87% accuracy, the casinos can then temporary block such person's betting accounts or set a betting limit.
For a very long time casinos have lost money to fraudulent players, who use different tricks to cheat. Artificial intelligence now assists in identifying players who exhibit suspicious behaviour. Gambling platforms, therefore, are now able to foretell such events and nip it in the bud.
The Future of AI in gambling
iGaming companies are at the forefront of adopting innovative technologies. From driving traffic, studying customer needs and profit growth. AI has just started as there's more to come. We should expect to see gambling applications integrating AI solutions that safeguard players who are unable to gamble responsibly.
There's more to artificial intelligence than just profit to casino operators. The technology offers both business performance improvement and responsible gambling solutions. The solutions are beneficial to all the stakeholders, that is, players, operators, and even the authorities.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.