The past few years have been transformative for the gambling industry thanks to innovative advancements such as AI or artificial intelligence. For decades, AI aroused feelings of both fear and excitement but today, artificial intelligence is a hot buzz word gaining traction in all areas of life and not just gambling.
There is so much that AI is being utilized for and it has so much potential that it is almost impossible to picture a future where AI does not exist; especially when it comes to online applications. Indeed, we are living in the AI age; everywhere you look, casinos are touting their most up to date AI and machine learning advancements.
Casinos and online gambling websites, already skilled at tilting the odds in their favor, are using AI and machine learning to inject even more earnings. So what exactly is AI?
To put it loosely, AI consists of any technology or algorithm that has some intelligence. This means that anything that has the capacity to do what human beings are usually good at, at a much better and faster rate, probably has some form of machine learning or AI embedded within.
AI, therefore, refers to the act of incorporating an intelligence system within machines, which consequently allows machines to think and make important decisions on their own, like humans. AI devices collect data and learn from their environments so that they can take actions designed to make human life easier.
The terms Artificial Intelligence and Machine Learning have been utilized since the 1950s. At its advent, AI was seen as a futuristic and theoretical portion of computer science. However, thanks to enhanced computing capacity and continued research into algorithms, AI has become a viable reality.
How are casinos using artificial intelligence in 2020?
Artificial intelligence for predicting consumer habits
Today, casinos are utilizing AI to predict the habits of their customers so that promotions can be personalized to keep gamblers coming back for more. Casinos use AI to profile their patrons and predict their behavior in remarkable ways. When every click made is scrutinized with great detail, it then works to enhance the gambling experience.
This isn’t so different from what land-based casinos do when they design their floor layouts to enhance the customer experience. Utilizing data from customers, casinos can anticipate their patrons’ needs; figure out the games that they like to play and those they don’t so that changes can be made to meet their demands.
AI is used for accurateness in advertisements
Gambling executives are now relying on AI to ensure that their advertisements are more targeted than ever. These executives do so by analyzing their customer’s every click, page view and transaction to create ads that are more likely to work through platforms such as Google and Facebook.
Historically, before launching an ad campaign, casinos would have to carry out audience research manually, create enticing offers and then design the ads before deploying their campaigns based on the budget set. To report on the success of an ad campaign, there was a lot of manual analysis involved so that the best performing ads and the best audiences could be identified.
Today, as long as casinos use AI, they can discover where their conversions are originating from and seamlessly shift spending so that they can focus on those converting audiences. With machine learning and AI doing all the work traditionally done by digital marketers, casinos are expected to see an increase in customer numbers.
AI-powered slot machines
At the Las Vegas Consumer Electronics Show, the future of AI and its impact on the gambling industry was discussed in detail. Although the use of AI in iGaming has been a reality for numerous years, this technology is only being widely applied now. Many online casinos are now doing everything they can to supply patrons with more AI-powered 3D games and slot machines.
Casinos are utilizing AI in slot machines as a way of improving the experience as well as reducing the chances of cheating while facilitating fair gaming. In most slot games, gamblers are typically playing against an automated system. These computer systems are quickly being replaced with AI so that player behavior can be determined more accurately and actions taken accordingly.
Some casinos are even utilizing complex algorithms to analyze and identify gamblers that may be at risk of addiction. This will be crucial in allowing casinos to assist at-risk gamblers before their addiction reaches a grave threshold.
AI for organizing data
Casinos also use AI to collect and organize copious amounts of data so that insights and deductions that are beyond the human capacity of manual processing can be made. AI improves the rates of efficiency while reducing the likelihood of errors being made. At the same time, casinos use AI to detect irregular patterns such as spam and fraud in their systems, thereby warning casinos regarding suspicious activity in real-time.
AI and customer service
There is nothing as frustrating as having your complaints handled by a chatbot instead of a real customer service representative. Because customer expectations are now higher than they have ever been, casinos are increasingly on the lookout for superior technological capabilities that can allow them to bridge the consumer expectation gap.
By incorporating AI tools to the customer service experience, casinos are improving the gambling experience, customer loyalty, as well as the reputation of the brand, all of which lead to higher revenues and continued growth. With so many casino options out there in the sphere, AI has become more relevant than ever to the casino experience.
Casinos are on a tight race to supply their patrons with the best gambling experience possible and technology is at the core of it all. With the rapidly transforming landscape in the world of tech, it is only a matter of time before the gambling word fully utilizes AI in its operations.
Indeed some casinos have already started integrating AI into their operations. More plan to do so this year. As such, 2020 is set to be a very exciting year in the gambling industry