UseCasesFor.ai

AI Use Cases

A collection of over 250 uses for artificial intelligence

A continually updated list exploring how different types of AI are used across various industries and AI disciplines,including generative AI use cases, banking AI use cases, AI use cases in healthcare, AI use cases in government, AI use cases in insurance, and more

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Recommending additional gaming options or side bets during play

Introduction

AI has become an influential tool that has lead to changes in many sectors and the gambling industry is no exception. It is now common to find gaming companies applying AI in the development of sophisticated systems and algorithms to enhance the customer experience and generate more profits. Another area of application of AI in this industry is in suggesting more games or side bets to try out during a game. This involves complex AI algorithms that process player’s actions, choices, and wagers to offer recommendations for other games or bets that the player might enjoy. This not only makes the gaming experience more exciting but also creates more opportunities for the casino operators to make money.

Challenges

There are however some challenges that the implementation of AI in suggesting more gaming options in the gambling industry is associated with. The first factor that has a great impact on the accuracy of AI recommendations is the quality and the amount of data. Compiling data that is extensive enough to be considered comprehensive and accurate with regards to players’ actions and wants is not always easy. The second issue is the privacy issues that are still present today. To this end, AI systems require a lot of personal information to which they need to gain access; thus, issues of data security and privacy emerge. Thirdly, the regulations are not uniform across different regions, hence creating a problem for large gaming companies that operate across different markets to come up with a single AI strategy. However, there is the issue of how AI will fit with the current systems and the issue of training people to use these new technologies. Last but not the least, there is a possibility that AI recommendations may suggest unhealthy gambling habits, which may have adverse social impact and may also raise regulatory concerns.

AI Solutions

There are however several challenges that one is likely to encounter in the application of AI in healthcare as illustrated above. First, AI algorithms can be trained to unclutter the data thereby solving the problem of privacy. Big data can also be captured and assessed with the help of machine learning to provide precise recommendations. Some of the companies that have adopted the use of AI include BetBuddy and Playtech which have developed AI systems that are used to monitor player’s behavior with an aim of encouraging them to gamble responsibly. It is also possible to apply AI in the customization of the gaming experience as the algorithms will be able to learn the preferences of the players and suggest the types of games that they may like. Also, AI can be utilized to enforce the regulation and ensure that all the activities are legal as there are algorithms that have been developed to comprehend and follow the set regulations.

Benefits

There are a large number of advantages of using AI in suggesting more gambling options in the gambling industry. It makes the gaming experience more engaging as the recommendations are specific to the player and their wagering habits. This in turn can improve customer satisfaction and engagement as well as boost profits. It can also assist in recognizing gambling issues and promote safe gambling thus having a positive impact on the player and the industry. In addition, AI can improve efficiency and decrease expenses since it can handle most tasks that could be done by a person.

Return on Investment

AI can be very profitable in the gambling industry. According to a study by Juniper Research, AI has the potential of reducing costs for the gambling industry to as low as $150 billion by 2023 through the use of robotic process automation in customer relations and betting fraud prevention. In addition, in improving the gaming experience and customer retention, AI can greatly improve revenues. Although, there is a significant cost in implementing AI technology, the prospect of higher revenues and reduced costs makes it a profitable investment.

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