Many companies are leveraging AI in casinos and other venues, to create and maintain better relationships and ultimately own their market.
FREMONT, CA: AI exists in the casino industry, and operators are starting to leverage it to predict a range of customer behaviors, both on and off the gaming floor. They use the vast amounts of information they have on their customers to create and maintain better relationships and ultimately own their market.
Companies are utilizing artificial intelligence and predictive analytics to enable the operators to make sense of the data they collect daily. The software's ability to respond to the user questions is known as natural language processing and is a type of machine learning. In numerous ways, it is similar to the technology that underlies Alexa and Siri.
Currently, there are only handful-number of companies that leverage this type of technology in the casino industry. As experts state, AI can be particularly helpful in predicting and anticipating certain player behaviors. This process traditionally needed heaps of offline analysis and a review period of between 90 and 120 days.
Because the casino data systems track and store information on the players' cards, slot machines, and other points of interaction, information about the player tendencies exists in plain sight. The problem is that few operators who collect this data understand the questions they need to be asking to mine it for information that can help run the business more efficiently and effortlessly. This is an area where AI can help.
For instance, if there is a player who comes in every other day and then suddenly stops, casinos will want a system that can immediately inform so that the needful action can be taken to recover that player quickly.
There are indeed other benefits such as mining data for real-time intelligence, which empowers the operators to prognosticate handle, hold, and overall revenue. Thus, embracing AI software enables us to operate with 97 percent accuracy, a remarkable number, considering how unpredictable the gaming industry can be.
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