The monthly handle of New York State online sports betting has dipped...
As we, as an industry, continue to transition into a new digital age, fresh technological capabilities are being made available that must be taken full advantage of in order to remain competitive in the modern market.
AI is a great example of an exciting new tech that has much to offer. But how much do we know about AI and how can we use it to its full potential moving forward?
We caught up with Kelly Brooks, CEO and Founder of Quarter 4 to find out more on the possibilities. She believes this nascent technology has so much more to offer the industry compared to how the majority are currently utilising it and this starts with AI based prediction software!
AI is a fantastic new technology that industry stakeholders are already seeing success with, especially in the Marketing and CRM departments. Do you think AI is being used to its full potential? How else can the benefits of AI be leveraged?
So far, we have only seen the experimental and initial business applications that Artificial Intelligence is capable of. We are at the beginning of the AI journey. For example, in the iGaming space, there are basic simulations used for simplistic analysis all the way to intermediate levels of complexity that are driving market predictions. At Quarter4, we utilize a Neural Network (vs a Classic model) with Deep Learning that is equivalent to multiple exceptional human brains. Everytime we apply new data, it adjusts output if it is relevant. In September, our system will be producing over 2 million predictions a day, without human interaction, with updates happening every 60-90 seconds. This automation and application of real-time intelligence can advance player and game analysis across multiple platforms, within seconds.
Other areas that should be reviewing the power of this technology include player protection and security, personalization of experience as well as human resources management and response.
Creating engaging content for the new generation of players has been a continual challenge for the iGaming industry. How can AI-driven, predictive content specifically help with this demographic going forward?
“AI-driven content and data possesses 3 key characteristics. Firstly, the amount and variation produced is astounding. This allows for the discovery of unique content opportunities that can be used in personalized experiences, as well as data output that has not been seen before. At Quarter4, our AI can detect certain teams, players or statistics that are heating up or cooling down before a human analyst can capture it. Patterns of data reveal very progressive analysis. Secondly, content can boost confidence. If your end-user can gain insight into a game or player that someone else doesn’t have, it can give them the confidence to play. And finally, the real-time leveraging of data really keeps users engaged as they are continuously drawn back into what happens next. This is very powerful when it comes to user loyalty and activity.”
The online sportsbook market is highly saturated and very competitive. How can operators and suppliers alike, effectively differentiate themselves to ensure sustained growth?
“They really need to progress with technology for their users, not just for their internal business processes. The Quarter4 team talks to many competing online entities. Their tools and approaches look the same and behave the same. End users are clever, and the new market of players are looking for an intelligent and simple experience that empowers them to make a satisfying online decision. If you look at a lot of online experiences, they include rows of data, flashing ads and link-offs to sites where users can’t even bet, due to legislation or location. All these issues can be addressed with technology.”
AI is just one of many new technologies emerging in the market, what other tech products should we be focusing on as the iGaming landscape continues to grow and transform?
“Don’t discount blockchain technology for uses other than fragmented purchase or payout. As the blockchain infrastructure continues to evolve, purchase and payout will become more seamless and NFT and other progressive developments from this industry will empower users to host their own betting rooms and payout with ease. The opportunities are endless. Cybersecurity advancements are also a main focus. New technologies will protect data, organization and consumer. Companies like Quarter4, who produce millions of data points daily, need additional protection for themselves and their customers. Our online world is only expanding, so we have to be protected while we are in it.”
From speaking with Kelly, it’s clear that the days of AI being thought of only as a marketing tool are coming to an end. As the technology continues to be adopted and developed by industry pioneers, such as Quarter 4, the infinite capabilities are being unlocked.
Using AI as a prediction tool makes it even easier for operators to provide a personalised experience for their customers and keep engagement levels at a maximum, amongst other key benefits. As Kelly says, we are still just at the beginning of our technological journey and we’re very much looking forward to seeing how else these inspiring new technologies will help push the boundaries of iGaming and forge new pathways to sustainable growth!