The Role Of AI In Igaming
Artificial Intelligence has become an integral part of people's day-to-day life. From activities like making internet searches more relevant to conducting complex surgical procedures at hospitals, AI has created value across industries including iGaming. iGaming has been known for the comfort and experience of its users. With the growing reach of the iGaming industry, industry leaders are turning to artificial intelligence to provide their users a unique and safe experience on their platforms.
To put this in perspective, according to a study, the integration of AI and virtual reality in the global gaming industry is expected to grow at a compound annual growth rate of 12 percent during 2020-2025. India is also expected to catch up with these numbers soon, especially with the launch of the new 5G technology across major cities. 5G will allow technologies like AI/ML to run smoothly on the respective platforms, thus creating a demand for a more immersive and interactive experience from the iGaming operators.
With the help of AI, iGaming platforms are able to detect usage patterns in terms of which network they usually log in from, when they log in, and detect if any fraudulent activities take place
Significance of AI in iGaming
One of the areas in that AI is being used is user safety and building trust among players. With the help of AI, iGaming platforms are able to detect usage patterns in terms of which network they usually log in from, when they log in, and detect if any fraudulent activities take place.
Platforms are also using AI to further secure their algorithms, conduct safe payment transactions and likewise. AI also plays an important role in providing a personalized experience to every user. For example, collect data on which games they enjoy more and suggest similar suggestions to them. Another critical example would be based on the users playing patterns in online casinos, the iGaming platform can increase or reduce the risk and reward dynamic in realtime,while parallelly guaranteeing transparency, security, and safeguarding fair play conditions, on their respective platforms. Something like this wouldn't have been possible without AI.
The data generated by the AI algorithms, also help iGaming companies in making informed decisions. For example, it can help generate data like player access location, online slots, spins, and more. Such data helps the iGaming operators in making critical decisions like which market they can explore, what type of games a particular demographic enjoys, and during which hour. Accordingly, the operators can launch new games and experiences, throw relevant suggestions to the user base, and most importantly, enter new markets.
The AI empowered business intelligence also helps the operators to run the relevant and personalized campaigns for users. Another example, of how the intelligence provided by AI and Big Data helps the operators, is by identifying which platform the players are using, which operating system, or the browser they are accessing from. This intelligence helps in optimizing the games and provides a smoother and richer experience to the players. Moreover, with help of AI and ML the relevant reports are automatically generated with recommendations on the next steps. This helps the stakeholders in making better decisions.
What to Expect in the Future
With current technology, the iGaming business has a lot of opportunities. This began with the advent of VR and AR, which allow players to experience the thrill of being present even when they are not physically there. With the prices of AR/VR headsets becoming more affordable,players will ask for a more immersive experience from iGaming platforms. Metaverse might also play a significant role in the coming times. Powered by AI, Metaverse will add an extra thrill to players by allowing them to put their 'game face' on. In the future, more iGaming platforms might extend their services to some thing more immersive and interactive.
While AI has already become an integral part of iGaming industry, with 5G being launched in India, more players will be open to platforms that run on complex technologies like AI. The technology makes the gaming experience safer and more personalized. It also helps the iGaming operators in taking more informed decisions. Furthermore, in the coming years, AI/ML will become a critical part of the business as the industry witnesses demand for AR/VR and metaverse experiences.