The gaming community is benefiting greatly from AI’s ability to process massive amounts of data
It has been predicted that artificial intelligence (AI) will be the big change in the 2020s and, without a doubt, the changes will be widespread and rapid. A recent survey conducted by PWC found that an overwhelming majority of executives have either looked at or have started implementing some type of AI or machine learning (ML) in their businesses. This means that the amount and depth of data that can be manipulated will increase rapidly over the next few years, as will the requirements for faster and more accurate data analysis. The iGaming industry has already begun to take advantage of the data capabilities of AI, and will continue to add additional analysis channels as more data becomes available.
Although related, essentially, the difference between ML and AI is the way that they cope with unexpected events. For example, if you tell an ML program to search for pictures of cats, it can perform the task quicker and more efficiently than a human. However, if it returns a picture of a dog, it won’t know what to do with it unless specifically instructed. AI, on the other hand, will search for pictures of cats and then, if it finds a dog, will search any connected data sources to identify it. This gives AI an edge in sorting through massive amounts of data to help iGaming operators fine-tune their analysis, whether it be related to marketing, security or operations.
The volume of data produced already produced has resulted in the term Big Data being implemented to define a collection of information in terms of both depth and breadth, as well as real-time ability. However, this amount of data means that most companies are producing volumes of information that are so extensive that traditional analytics techniques aren’t able to cope. Using well-developed AI systems allows for huge volumes of information to be processed rapidly, leading to quicker analysis and insight.