It’s nothing surprising to say that the industry of gambling is a leader when it comes to implementing artificial intelligence (AI). And it has already been incorporated into various features. But simultaneously, many experts from business and science sectors claim the surface is just scratching and that machine learning could revolutionize how the industry works in the future.
Players will benefit from a better gaming experience. While operators, whose revenues have already grown since the start of the pandemic, will be able to attract even more customers. Top online casinos have been some of the beneficiaries of this trend and they still are. From Poker, blackjack, slot to roulette, all games are managed by AI. Games such as Bonanza Gems allow you to get demo bonanza gems to make sure you enjoy the play.
Many people, however, will not be aware that some of the usual casino operations that are taken for granted are already using artificial intelligence.
Customer Service
Chatbots – computer programs that have virtual conversations with customers – are used because they are cheaper than hiring customer service representatives.
AI uses a technique called natural learning processing (NLP). It learns and extracts information from people’s spoken and written words using algorithms. Bots are constantly being developed to provide a more personalized customer experience. This is due to the fact that machines are much faster than us to assimilate new information and learn,
Loyalty Schemes and Bonuses
Due to the sheer amount of data that machines can collect about each customer, casinos can tailor loyalty programs and bonuses to suit individual needs and preferences. This is a common business practice. The reason is that often these customers will have an incentive to play more.
Fraud detection
AI is far more effective at detecting card fraud or casino transactions than humans. Indeed, it can use predictive models that can represent possible fraudulent activity. Then, it can compare actual transactions to those models.
Online fraud is one of the biggest dangers that online casinos face. And artificial intelligence helps reduce the likelihood of this happening.
Another branch of this is that it is used to detect fraud. The artificial intelligence machine is capable of collecting huge amounts of data. Then, based on it analyzes the gambling of individual players over time. It is able to identify and flag players who may be unfairly adjusting odds in their favor. It can then immediately suspend their accounts.
The Problem of Gambling
Gambling addiction is not only a social problem. But from the point of view of the online casino industry, it represents an operational risk. It actually increases the demands for stricter regulatory and licensing requirements.
Artificial intelligence systems help online casinos ensure that all customers are over the legal age. It can also identify potential problem players and identify the casino. In consequence, it will result in the player having their accounts suspended. Casinos can then offer advice to the person concerned. At the same time, they eliminate both potential legal issues and generate a little goodwill for themselves to boot.
Odds Calculation
Traditionally, casinos have used highly trained actuaries to help calculate the odds and maintain the house edge. However, this process is slow and expensive. Instead, AI can analyze thousands of transactions in almost no time. Then, based on this, extrapolate the appropriate coefficients. Again, this has helped online casinos increase their profitability.
Future Trends
Like any industry, online casinos must constantly stay ahead of the curve. It also has to constantly innovate or risk being left behind. AI is used for trend analysis to predict how the market will develop in the short, medium and even long term. The purpose is to allow operators to develop appropriate strategies to meet changing customer needs.
Human researchers can do this too, but they cost more and are less accurate in their predictions. Whether the idea pleases us or not, AI is the future, even in online casinos.
