Dmytro Taran: What exactly can AI do for iGaming brands?

Halfway through 2023, AI technologies are blowing up in the iGaming industry. Everyone is curious to see how the industry will adopt AI-powered solutions and what new products will appear soon.

AI tools can sift through and analyze vast amounts of data with a speed that humans simply can’t match – and that has huge implications for how iGaming brands will run their businesses. One hot topic has been the possibility that AI solutions will replace humans, as their ability to rapidly collect and analyze data enables them to define what the audience needs more rapidly and more clearly, though those fears may be overstated – it’s more likely that AI will help team members increase efficiency.

AI is big and getting bigger. According to Market.us, the market for global generative AI in gaming was worth $922 million in 2022, and growth is estimated to accelerate at a CAGR of 23.3%, reaching $7.1 billion by 2032.

At this point, if you’re not already integrating AI solutions, you’re being left behind. What are some concrete examples? Let’s look at some of the best applications of AI technology:

• Genuine support. Instead of replacing people, AI will more likely function as an additional department in your company, providing full-time support. In this situation, AI technologies can help team members perform routine tasks, giving support specialists time to dive into expanding relationships with clients and handling more in-depth customer support issues.
• Analysis. One of the most useful applications of AI technologies is that they can collect and analyze data 24/7. This function is fantastic for analytical and marketing departments, as having large amounts of data makes their work easier. Having the relevant data is great for making reports and understanding audience preferences.
• Marketing options. Casinos can use AI systems to analyze player behavior and offer them personalized bonuses, special promotions, and tailored marketing campaigns.
• Consulting. AI’s command of Big Data makes it well-positioned to offer advice. Generative AI can offer recommendations for new directions in which to take your business – though of course, you’ll still finalize the strategy on your own (or with the help of specialists).
• Personal account management. In the near future, casinos could potentially use AI to create automated, personalized account managers, similar to the ones available to players at the top levels of VIP programs. AI tools would give players tips on how to play games and make sure they stay within safe gambling limits.
• Fraud prevention. With AI, it’s easy for casino operators to set the parameters of what constitutes potentially fraudulent behavior and then segment players accordingly and take action when you need to.
• Responsible gambling. AI can be used to monitor players for behavior that indicates problem gambling, such as loss-chasing, canceling withdrawals, and playing late into the night. Players can then be contacted or other preventative action can be taken.
• Networking. AI creates opportunities for networking. It allows players to create special platforms where players can communicate and build connections. For example, there already exists a multiplayer chat, a novel function that players can open on any of the online front pages of the casino and communicate with other players, as well as with AI chatbots. This effective retention tool creates an opportunity for networking and creating player communities.
• Immersive gaming experiences. AI-driven graphic generators like MidJourney can be integrated into gambling platforms to help players create personal avatars, interact with 3D projections, and enhance their gaming experience. In this regard, AI enables the creation of better, more complex game assets.

Training AI tools on vast data sets can solve problems on a bigger scale than was previously possible. For example, take the prevention of problem gambling. We already know what markers to look out for — behavior like loss chasing, playing late at night, and reversing withdrawals. Training an AI program to monitor for these behaviors can help iGaming brands protect their players and, by extension, bolster the industry’s reputation.

The next step would be seeing what conclusions AI can draw by analyzing countless case studies of confirmed problem gamblers to see what other behavioral markers were previously undiscovered by the human eye. The same would apply to risk management; AI programs could help identify new indicators of bonus abuse.

Game design will remain the purview of artists and developers, but they themselves will likely employ AI tools to speed up their processes and gain analytical insights into which aspects of games players are most likely to respond well to. Used properly, AI can help heighten the thrills of the gaming experience.

A clear, well-thought-out strategy and adequate investment of time and effort can create an AI tool that will be indispensable in the future. And, of course, repetitive, routine tasks that require analysis but not inspiration can also be handed over to AI tools, freeing up team members to focus on creative tasks that need a human touch.

In my opinion, now is the time to start implementing AI. The potential is hard to overstate, and an early embrace with a clear vision of the future will lead to the best possible outcome.

Overall, the role that AI will play in our lives isn’t likely to resemble a sci-fi movie where robots have taken over. Instead, AI tools willmake companies and employees more effective, helping them solve bigger problems in less time than ever before. And it’s also crucial to note that AI is already taking the iGaming industry to the next level. It’s no longer the future; it’s the present, and it’s opening up tremendous new opportunities.

Image credit: Casino Guru News