Artificial Intelligence (AI) is the great technological innovation of our time. It is, if experts are to be believed, the tool that will enable us to fix our troubled world, revolutionise healthcare and eradicate wealth inequality.
Whilst these lofty claims of a Brave New World might be appealing, it’s important to remember that AI isn’t the first technological innovation heralded as a saviour to modern ills. The internet, the very platform you are using to read this article, was supposed to open up academia and learning to everyone and bring us all closer together.
In truth it has made us more divided than ever and instead of opening up avenues to academia and learning, has instead served as a platform for dangerous disinformation. It’s because of realities like this that we are sceptical about the bold claims being made about AI.
Whereas many are predicting that AI will be able to solve climate change and double our life expectancy we have a rather more pragmatic approach, in that we think AI will end up being utilized in much the same way as every other major technological innovation – to make money.
One industry poised to take advantage of AI for those ends is the online casino industry, which traditionally have been ahead of the curve when it comes to technology for the entirety of its existence.
How AI Will Benefit Online Casinos
Currently websites such as Casino.org ranks the best online casinos in Canada based on things such as gameplay and offers. In years to come, these comparison sites will be considering AI tools and features.
What exactly will these features improve though? Here are 5 of the most likely impacts of AI on online casinos:
Personalized Gaming Experience: AI algorithms will be deployed to analyse your unique player behaviour and recommend games and offers specifically tailored to you. This will lead to a higher level of engagement and improved customer satisfaction.
Fraud Detection and Security: Online casinos are already incredibly safe, but things do still slip through the net from time to time. AI security will however make things safer, to the point where there will be a marked difference between those providers using AI security and those who do not.
Safety Measures: AI algorithms will also be deployed to monitor player behaviours and stop problem gambling at a much earlier stage.
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Improved Customer Support: Chat bots are okay at the moment. With the integration of smart AI however they will be capable of solving customer issues efficiently and quickly 24/7.
Gaming Development: It’s expensive and laborious to create online casino games. AI can cut costs and speed things up, leading to more games for players and lower costs to developers which will hopefully be passed down to players.
Why Companies Must Act Now
Those companies that didn’t embrace the internet initially suffered, but they were able to make up their lost ground over time. When it comes to AI however, companies mightn’t find the landscape as forgiving.
That’s firstly because the world of online casino gambling is so highly saturated and that even a 1% market share increase is like gold dust. Secondly, it’s because AI isn’t like any other technology, it is always learning and improving, which makes early adoption absolutely crucial.
If companies don’t adopt AI and let their competitors steal a march, they will be left behind in the dirt.
The Challenges of AI
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(It would be interesting to hear the thoughts of Dr Ian Malcolm on the development of AI.)
Industry insiders will say that cost considerations are the most pressing concern of AI adoption, but don’t be fooled by that. Compared to the sums of money that AI can generate for companies, adoption costs are absolutely negligible.
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The challenges faced by AI come back to the same challenges faced when any technological innovation is created – humans. What will the humans in charge of the AI choose to do with it? Will they operate it ethically, or as is so often the case, will they exploit the lack of legislation surrounding this new advancement for their own gain?
The sceptic (and realist) in us suggests that it will be the latter. As lawmakers struggle to keep up, early adopters of AI will exploit the barren legal landscape to make bags and bags of cash. Our advice to players for when this happens would be to set yourself firm playing limits, as AI will surely be used to encourage players to spend more and more time wagering than ever before.
