Artificial Intelligence has fast become one of the most popular topics on the planet since being made readily available for the public – but the iGaming industry is still yet to fully embrace its powers.
Although many remain hesitant, the potential for AI to enhance platforms through personalisation, fraud detection, player behaviour analysis, and other benefits should inspire optimism about this technological revolution.
Jovana Popovic Canaki, CEO of iGP, shared her insights on the rise of AI and revealed that it can be greatly beneficial for gambling websites, both in its day-to-day uses and wider long-term growth. Speaking to SBC Media’s Charlie Horner in episode two of iGaming Daily’s ‘Dear CEO’, she contextualised the AI trend from a business standpoint, focusing on the many benefits that it can provide in the industry.
“With any AI based operator they can grow much faster and, for sure, more efficiently. There is no need to grow the teams or scale in tech or human resources and that brings the operational costs down while still allowing for growth.
“One area where you can benefit from AI implementation is fraud detection. You can analyse all the patterns in deposit and withdrawal to combat money laundry to faster KYC processes. Apart from the software that has been implemented, there is a human element to the checking and all of this can be enhanced by the AI.
“I think the most interesting one is the most complex one where you would use the AI in every single step of the player’s journey. From the very first click of the ad to the player landing on a certain page. Registration, deposit, gameplay and so-on. Imagine a system predictive model where it will give out recommendations to an operator what the level of investment should be in that acquisition channel – and all of that down to a player in a fast manner could be a game changer.
“At the moment our industry is underutilising for many different reasons, maybe even scared of using it or scared of what it can do, or scared of it replacing people and certain jobs becoming redundant. AI has tremendous potential, it can cut costs and, ultimately, we do all of this to bring a better player experience, all of that without needing much more resources.
For smaller businesses trying to bridge the gap without having the larger resources, Canaki, once again, referred to the use of AI, even suggesting free tools to help them grow. Underlining the importance of data being one of the key elements to a successful business, she encouraged those to be proactive and focus on the data.
“Data has always been one of the keys of a successful business, especially in our industry. To be proactive in addressing certain areas of the business, you need to have the data. I would recommend smaller tools or even OpenSource. It can help smaller operators to reach their goals without having big teams or huge funds. Innovation is the future, we cannot stop innovating and this is what drives the industry forward.”
With AI becoming increasingly intuitive, cost-effective and accessible, combining variations of the trending system should help inspire innovation – a never-ending process that, most importantly, requires human input to implement and pioneer industry transformation.
