AI Can Shape The Future

With the adoption of artificial intelligence-driven solutions continuing to rise across all major industries, we caught up with BETBAZAR’s COO, Max Sevostianov, to discuss how he sees the technology evolving over the coming months and the main benefits it can provide to businesses.

The increased use of AI has recently been a major development both in iGaming and other industries. Do you think the technology is now here to stay for the long term and what benefits does it offer to operators both in terms of efficiency and customer personalisation?

It’s really hard for me to imagine a world where AI isn’t here to stay for the long term. I think it will continue to play an important developmental role not only in iGaming, but in all major industries; and the fact that it’s being increasingly incorporated by businesses suggest to me that this trend is already well underway.

In terms of what the technology provides, I’d say the benefits are myriad. First and foremost, enhanced efficiency and user personalisation are some of the most striking use cases.

By leveraging AI algorithms, organisations can streamline processes such as customer service, fraud detection and content recommendation, empowering them to deliver a highly personalised experience to their users. Beyond that, I believe the increased adoption of AI also has serious implications for how companies manage their internal processes as well, as it enables them to better analyse the data they have available and improve their integrity features.‍

For those companies who have not yet incorporated AI systems into their offerings, what considerations need to be made? As AI solutions are only as effective as the data that underpins them, do businesses need to be smarter about how they collect this information?

There are several considerations that need to be made by companies who are yet to incorporate AI systems into their offerings and I think this is definitely one of the key points. As you rightly say, the effectiveness of an AI solution is heavily dependent on the quality and quantity of data available and businesses therefore need to prioritise their data collection to ensure they have access to clean, relevant and diverse data sets.
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Additionally, I believe companies must also review their infrastructure – their readiness to incorporate AI, if you will – and ensure that they have things in place such as the necessary computing power and data storage capabilities to support its implementation. Even more fundamentally, however, I think it’s crucial for any organisation to invest in talent with expertise in AI, as having a strong understanding of data science is what will ultimately allow you to develop and manage your AI solutions effectively.‍

One of the biggest early fears about AI was that it would ultimately replace human input and potentially make some roles redundant. Now that the technology has been here for a few years, would you say these concerns were overblown? Is it more a case of people needing to learn how to work with AI in their roles rather than worrying about it taking over completely?‍

I think this is a really interesting question because it’s one that always seems to come up whenever a new technology threatens to change our working lives. AI will of course alter and replace human input in certain working processes, but this is a normal thing and certainly nothing to fear.

Throughout our history, advancements in technology and infrastructure have always served as a means to automate processes – but these usually tend to be the processes that are the most repetitive or mechanical. What an AI can’t replace – for now at least! – is human emotion and creativity, so by removing the burden of these more procedurally-driven tasks, we’re actually gaining the freedom to exercise more creativity in our day-to-day work.

I therefore think the focus should be on educating people about how they can add additional value to an AI solution by using their own creative input, rather than worrying about the technology taking things over completely.

We’ve already seen the impact AI can have in automating CRM campaigns and assisting with responsible gambling regulations, but does the technology’s scope also go beyond that in the future? In your opinion, what are the other main business areas that AI can potentially make a difference and how do you see its usage in the industry evolving in the coming years?‍

Given the way the technology has developed so far, I believe AI is currently poised to revolutionise several aspects of the iGaming industry in the not-so-distant future. These include a few of the things we’ve already touched on like customer acquisition and retention, crowd detection and regulatory compliance, but also aspects such as game development and predictive analytics.

AI can be used to provide valuable insights into player behaviour that enable operators to optimise their marketing strategies, while also allowing them to tailor the gaming experience to the preferences of individual users. Additionally, I believe AI is perfectly suited to driving innovations such as virtual assistants, chat bots and other processes that can be used to improve customer support.

By using the technology in this way, operators can guarantee their customers get the fastest and most accurate response possible, while also reducing the manual workload required.