Artificial intelligence has already taken the world to a whole new level. All the major industries including health care, telecom, banking, e-Commerce etc are using AI for providing their customers a great experience. The other reason for using artificial intelligence this widely is to stand out from their competitors with exceptional features in their respective industries. Another giant industry that uses AI and outsmarts with its benefits is online casinos. Yes, the online gambling industry uses AI extensively in order to offer a never-before experience for gamblers with its customized gaming options, ads, messages etc.
AI uses customer data to provide them with fully customized experiences, so all that AI relies on is data. Thus, artificial intelligence is all about the collection and analysis of data. This is why AI has both advantages and disadvantages as most people never like to reveal all their information to strangers. In spite of this, the advantages of using artificial intelligence in the gambling industry are far more than the disadvantages.
The gambling industry deals with billions of dollars each day. One cannot deny the fact that the entry of AI into this industry has benefited the revenue multiple times. This is all because of the superpower that machine learning holds. The AI we have today can understand human psychology and their intelligence level based on their past actions. And this feature of AI is bringing handsome ROI to the online casino owners as gaming is all about intelligence and their probability to win. Wondering, what is artificial intelligence in simple words? Here is the answer.
What is Artificial Intelligence?
Artificial intelligence is the ability of machines to simply think and act like humans, in fact, surpass human intelligence. The machines were taught to discover human actions, their behavior and their every online move through some computer algorithms to understand humans better. Hence the companies using the AI can reach humans in an efficient way to turn them into their potential customers based on their data.
The usage of AI in different industries might limit to either chatbot that acts as a reliable customer support agent or a robot that studies the users interest in their niche so that by applying a few strategies they can drive sales. Apart from these, the other examples we see in our daily life are Amazon Alexa, Google Maps, Google Assistant, SIRI etc. which are highly successful. Thus AI has become a part of our daily lives.
When it comes to the online gambling industry, people use artificial intelligence for great advantages such as detecting unusual activities while gambling, analyzing the next step of the gambler based on their past actions and the list goes on. Honestly, AI seems much interesting in the gambling field where there are multiple challenges every day. However, the final point of using any advanced technology like machine learning or artificial intelligence is to boost revenue of the company.
The contribution of AI in both online gambling and in-houses is prominent and almost all online casinos like Casino SlotV serving their gamblers with amazing gambling experience. So, let us now see how it has changed the way we look at online gambling.
Impacts of Artificial Intelligence in Online Gambling
The gambling industry has gone through various changes since its beginning and luckily its expansion is always better than the prior one. From in-house gambling to smart gambling on mobile devices that became available for almost every smartphone user, the journey is fruitful. The success is still growing since people are always attracted to entertainment, winning, and dollars, etc. Moreover, casinos need to get more gamblers to gain more revenue.
With the arrival of AI, these benefits have doubled both for casinos and gamblers. Let’s see how.
Better Customer Experience
As the gambling industry counts more on customer data, AI helps casinos with huge amounts of customer data and also analyzes it in order to understand each customer. Thus based on customer interest casinos can provide a great experience for the customers. Such as showing ads that lead them to clicking, taking action, making payment and gamble again. Thus AI drives the customers in the form of either chatbot or graphic interface which is of his interest.
Also, the LiveChat option available will guide the customers with any queries within a span of seconds like a human hence he need not wait for the reply for minutes.
Detection of Illegal Gamblers and Suspicious Activities
As the gambling industry deals with billions of money, there is a huge threat of theft and cheating. AI monitors each move of gamblers in online casinos to detect any unusual activities such as cheating or entry of illegal gamblers who were blocked in the past etc. Also, it denies access to underage gamblers based on their id proof. Casinos also use facial recognition technology, with which it becomes easy to detect suspicious activities through video monitoring. Thus AI keeps the fraud gamblers away from casinos using its cutting edge technology.
Accurate Prediction of Future Moves
Artificial intelligence is sometimes a win-win situation for both casinos and gamblers. In earlier days, there used to be people in casinos to predict the strategies of the opponent. However, all the predictions were not accurate as no human can predict 100% accurate when there are equal odds. But with artificial intelligence, casinos are able to predict the moves accurately based on opponents’ past actions. Thus casinos have a good number of odds and are able to earn much revenue with this strategy.
There are also proven records where AI won nearly 15 world’s expert poker players with its intelligence. This incident has created fear among experts that AI might impact human survival, like every coin has two sides.
AI is also specialized in gaming as per the level of the opponent. It studies if the opponent is a beginner or an expert and moves the cards accordingly. If the casino always wins, the customers might lose interest and jump into other casinos. Thus AI is used to calculate every minor factor for keeping up their customers and boosting the traffic as well.
But artificial intelligence not only creates a complete win situation for casinos. There are a few services that use AI and provide gamblers with an accurate prediction of outcomes. Thus even gamblers can gain benefits with AI until there are companies that provide this type of service.
Research says, most of the gamblers are between 40 to 65 age groups. The casinos lack the youth who are more active in the digital world and help casinos gain huge benefits. If online gambling is promoted well and can attract younger people more, then they can expect multiple folds in revenue. So, casinos are working on attracting the youth and younger adults with the help of artificial intelligence with new strategies. No wonder if AI does wonders to attract younger adults. Thus casinos may have more youngsters in their customer list in the future.
The top highlight with AI is it can act as human excelling human intelligence at the same time. The AI used in a chatbot, inhouse player, and video monitor act more like a human. Right from collecting only the useful user data to playing according to the opponent, AI transcends human intelligence but acts like humans to keep up the relationship between humans and casinos.
While gambling gives more relief with entertainment, shines in the eyes of gamblers during the economic crisis there comes a serious disadvantage of gambling known as addiction. There are high chances that people get addicted to casinos as they lure with money and entertainment. However, artificial intelligence can prevent people from becoming slaves to gambling. While AI continuously monitors the customer’s moves, it can also detect gamblers who are prone to addiction. Thereby casinos can take the necessary steps to stop those gamblers from facing negative consequences.
Thus artificial intelligence has both pros and cons in online gambling but when compared it has more pros than the other. The prevention of addiction is a crucial benefit that AI can deliver. As of now, AI is helping casinos gain big with its data collection and customization. However, customers can enjoy a great experience while gambling online, the end-result benefits stand by casinos only. Casinos should attract more traffic else there is no way they can earn. This is the reason why most casinos use artificial intelligence to grow their business.
One of the major concerns that is left unsolved is the collection of customer’s data. People need to know that any company can collect the data only if they accept their terms and conditions. So, it is necessary to carefully read the terms before signing up for gambling on online casinos.