The internet has undoubtedly changed many aspects of our lives, but Artificial Intelligence is, perhaps, the biggest digital driver. It’s already transformed many industries and, those that have yet to catch up, are planning how to harness its power.
One sector that has yet to fully develop the potential of AI is the gambling industry. It’s an area that brings in billions of dollars in revenue each year so it’s fascinating to speculate on just how much extra could be generated with Artificial Intelligence on hand.
AI in a Nutshell
Most consumers will already be familiar with how AI works for retailers. Global giants such as eBay and Amazon can track your browsing and your eventual purchases before following that up with suggestions for future buys.
So, if you are buying books on military history, there will be suggested purchases within that genre while the consumer may also be directed towards other titles by the same author.
That’s the most common perception of Artificial Intelligence but there are other uses too. Your Siri assistant on your iPhone is powered by AI so that it knows when you are looking for help.
Elsewhere, the technology can be used in everything from spam filters to self-driving cars. It’s not just an expensive privilege for the global giants, smaller sized businesses can also be boosted by AI so what impact could it have on industries that have yet to develop it?
Waiting in the Wings
Among the many areas that are expected to push AI further in the coming years is the healthcare sector. With GP surgeries and hospitals under increasing pressure, could it be the case that certain patients could be diagnosed using photographs and machine learning?
It’s an emotive subject and one that would have to be foolproof but there is potential for minor, non-life-threatening symptoms to be treated in this way.
Certain insurance companies are already using Artificial Intelligence. Data on our safe driving, or otherwise, is already being collected to an extent but this practice is expected to increase and improve in the near future.
And, of course, there is the gambling sector: How can this giant of industry look to improve its customer service through the power of AI?
A Personal Service
Artificial intelligence in sports betting could allow bookmakers to offer promotions that are specifically tailored to a customer’s betting experience. There are many deals in place but, up until now, they are generic offers that are available to all account holders.
Taking a multiple bet with insurance if one selection fails may not, however, be for everyone. Similarly, not all bettors will be interested in a free bet token for losing stakes in a football match that ends in a goalless draw.
AI would allow bespoke promotions based on your betting history. So, those who prefer to stake on cricket matches could receive offers for the upcoming Indian Premier League.
Follow the Trends
As an option that is accessible for all, AI could allow customers to see what others are staking on. Of course, this is already evident in the odds, particularly at exchanges where there are favorites and outsiders.
Artificial intelligence can take this much deeper, particularly in the live markets: If, for example, you’re betting on college basketball, comprehensive statistics as to where the money is going will be made available. Who is going to win the game, what will the point spread be and who will land the next basket?
The answers to these, and other questions, will never be guaranteed but AI could see what others are thinking. Following the crowd isn’t always the best strategy but artificial intelligence can make that an easier option.
Bet on Your Life
Just how far can artificial intelligence take the future of sports betting? The answer could, potentially, be a scary one depending on how much you like intrusion into your personal space.
You wake up in the morning and start to make plans but how many variables are there in an average day? Will your train be delayed, could you be made redundant, will you get a text message from your ex?
It’s possible that you could bet on this type of event: As long as it’s an occurrence that you have no control or influence over, there is the potential for AI to invent a betting market. Not only that, it could also be possible for third party bettors to become involved.
If all of this sounds a bit too much like the Truman Show, it will, of course, be entirely optional. Having the minutiae of your daily routine listed as part of a series of betting markets won’t be to everyone’s taste but it underlines just how much potential there is via artificial intelligence.
Evolution or Revolution?
The key with artificial intelligence in sports betting is to offer a choice as to how involved it can be. There are suggestions that players could wear tracking devices that could pass on data but that seems to be at odds with how clubs and individuals view their relationships with betting companies.
What is certain is that AI will shortly start to implement these changes. The exact nature of its involvement is a matter of debate but the aim as a whole is to pass on value to the customer and to enhance their overall experience.