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Will AI Live Up to the Hype in the Upcoming iGaming Revolution?

March 9, 2023 World Emerging MarketsiGaming & Gambling

Several of us in the iGaming industry have become interested in the rapid growth of AI-driven tech solutions, such as ChatGPT, as a possible super-booster for both content and marketing.

Many think that if AI lives up to the hype, our business will undoubtedly undergo a revolution, with limitless possibilities for future growth.

Can AI, however, live up to expectations? Are there any restrictions on what it is capable of?

Josh Tromans-Jones, CIO of top CRM solution provider Symplify, was interviewed to discuss the future of AI in iGaming and to find out the genuine worth of this most exciting use of cutting-edge technology.

New AI-driven technologies, like ChatGPT, appear to be the subject of a lot of media hoopla regarding their possible effects on our sector. How far can AI actually take us? Are its CRM-related capabilities subject to any restrictions or difficulties?

“Consider your earliest memories of the Internet: how rudimentary it was, how things would fail when your grandma called, how it would take days for a web page to load, and how video was not yet conceivable. Then consider our present situation. With tools like ChatGPT, we are still in the very early phases, and the advancement will be exponential.

“Of course, there are initial limitations for AI solutions, with the dependence on data being the primary one. For AI algorithms to learn and produce reliable predictions, they need a lot of data, which can be difficult for some firms that don’t have sufficient data.

“AI is highly effective at automating processes and boosting productivity. But, it lacks the personal touch that clients still seek. Building relationships that establish a true connection with businesses requires face-to-face interactions. AI should be utilized to enhance, not replace these interactions.”

“The data that these algorithms are taught on presents additional difficulties, and some users purposefully flood the tools with inaccurate data to train them wrongly. However, there isn’t much, if anything, that AI will never be able to solve.”

Leading AI experts from outside of the iGaming industry make up the Symplify development team. How crucial is it for our sector to seek for lessons and benchmarks outside of our own? Do you believe there are any particular industries from which we can learn the most, and if so, why?

“There are numerous industries out there working to address everything from specific concerns (like self-driving cars) to more broad ones (like ChatGPT), and they are all attempting to address variations of the same difficulties.”

For instance, research into self-driving automobiles has improved the tools and frameworks for image processing that can be utilized for email picture analysis.

Businesses can get new insights, ideas, and tactics that can be tailored to and applied to their own industry by studying other industries. Because Symplify works in the Fintech, Retail, NGO, Education, and Hospitality industries as well, we are in an ideal position. Retail was early to implement AI with chatbots to improve consumer engagement, respond to inquiries, and provide tailored recommendations.

I wouldn’t say there is one industry in particular that acts as a lighthouse, but there are some leaders like Netflix who spent extensively in AI and content personalization and who set really good examples,” said the author.”

The greater the data, the better the outcomes AI can produce. How can businesses make sure their systems are receiving the biggest amount and best quality of data?

“There are numerous ways to resolve this. By analyzing patterns and imputed values for missing variables, AI can be utilized to start improving data quality.

It’s critical to collect the appropriate data in order to comprehend what is most pertinent and then guide the AI system to address the problem. To guarantee that the AI system can produce accurate forecasts, businesses need gather data that is both relevant and objective.

Initiating automated rules based on business logic is another way to boost quality. Of course, QAs with extensive domain knowledge are still needed.”

What changes do you foresee occurring in the position of CRM/Content/Marketing Managers as a result of the market’s continued evolution and the impact of new AI-driven technology on CRM operations across the industry?

“CRM teams will be in charge of using AI to generate and recommend content to make sure that it complements the overall business structure. As a result, the function will change and become more editorial in nature, requiring longer-term planning.

CRMs must also devote their attention to data analysis in order to develop marketing strategies that produce returns to their users effectively. To adjust marketing plans and raise client engagement, they will need to analyze the output of AI algorithms, interpret the data, and apply it.

As we learn more about client data and preferences, personalization experiences will be further improved.”

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