In 2017, Harvard University’s Harbing Lou wrote a very insightful article on AI technology in the gaming industry. Lou made some startling observations about the role of AI in this growing sector.
Lou began his article by talking about some of the concerns that AI has brought. Musk mentioned that Elon Musk said that the growing pace of AI is putting the human race in danger. However, Lou said that the benefits of AI seem to trump the risks, which is evidenced by its growing importance in the gaming industry.
This raises some important questions. How is AI changing the gaming industry today? How will those changes shape the industry in the next 20 years? Here are some things to think about as we strive to answer these questions.
AI Will Turn the Gaming Industry on Its Head by 2040
Over the past 20 years, we have witnessed the development of a wide range of technologies and the explosion of the internet into homes across the globe. The rapid emergence of AI has coincided with these two trends.
The internet has changed the way people communicate, shop, and play games. However, the industry that has changed the most, thanks to modern technology, is the gaming industry. Artificial intelligence is at the heart of these explosive changes.
The gambling industry has expanded to allow people to play a variety of casino games easily and place wagers on various events from the comfort of their homes.
So, how will technology shape the next 20 years of the gambling industry? Here is a closer look at some of the top predictions and industry forecasts.
Big Data and Advanced Analytical Tools
If you regularly use sports betting sites, you may have tried various analytical tools to help predict the outcome of matches. In the next 20 years, these tools will likely become much more sophisticated.
The future may provide access to advanced tools that can provide in-depth analysis and predictions for any game. Algorithms that make better predictions may completely change the state of the sports betting market.
Software that can make more accurate predictions may result in lower margins. The odds will become more evenly matched, which means fewer rewards for players that make correct wagers. However, this could also lead to a lower entry point for sports betting.
Lowering the value of online gambling makes it more accessible to a larger portion of the population. With more users and less risk, certain countries may become more willing to ease restrictions on online gambling.
Expect Changes to Gambling Regulations
Artificial intelligence is also forcing regulators to change their policies. Laws can’t exist in a vaccuum, when AI technology is changing so rapidly.
In 2002, the United States passed legalization that created a gray area around online sports betting. This led to a decline in US-based gambling sites. While the industry has mostly recovered in the past 17 years, gambling regulations and restrictions continue to change.
States in the US are already starting to relax restrictions on online sports betting and gambling websites. In fact, Unibet recently launched operations in New Jersey and plans to expand to more states in the coming years.
While companies may find relaxed restrictions in certain markets, some regions are increasing their regulations.
For example, the European Union (EU) continues to pass stricter data collection and privacy policies and regulations. These regulations may not slow the spread of gambling websites, but they may require companies to focus more on data security and compliance with the laws in each country. A lot of these changes are due to how easily companies can collect customer information with AI-driven data mining tools.
By 2040, the regulations for online gambling will probably look much different compared to the current regulations.
Focus on Personalization and User Experience
The early sports betting websites and even a few of the current ones tend to feature cluttered layouts and interfaces. Sports betting sites are a step behind compared to other industries when it comes to user experience design. Fortunately, AI is changing this.
Other industries are already implementing AI personalization and customization features to give users unique experiences. Gambling sites may start to use some of the same practices.
You may notice that more sites tailor the content on the screen based on your past actions. For example, you could receive notifications for upcoming matches involving teams or sports that you have previously wagered on.
Last Thoughts on the Future of the Gambling Industry in the Age of AI
Along with the predictions discussed, sports betting sites are likely to continue embracing new AI technology. The next 20 years should bring many amazing breakthroughs in artificial intelligence and may even completely change the way you access the internet, which is caused by new advances in AI.
Instead of accessing a gambling site on your phone, tablet, or computer, you may place wagers with a wave of the hand or a voice command. No matter what changes occur, the gambling industry should continue to grow and find new ways to please customers.