The betting and gaming industry pays close attention to how technology developments can improve multiple aspects of its operations, and the continued growth of AI has led to it becoming an increasingly prevalent tool for boosting the player journey.
Speaking to Payment Expert, Vladislav Artemyev, CEO of ZingBrain AI, shared his views on how AI can function as a ‘game changer’ in areas such as the payments and customer onboarding, as well as for social responsibility purposes as the betting sector looks to maintain momentum on both sides of the Atlantic in 2022.
PE – Can you tell us a little about ZingBrain AI and what you set out to achieve as a company?
Vladislav Artemyev – Zing AI is an artificial intelligence (AI) engine that has been designed specifically for the global online gambling industry. It uses the same state of the art technologies behind the likes of Netflix and YouTube to allow operators to make recommendations to players based on their own data, behaviours and preferences.
This in turn allows online sportsbook and casino operators to provide truly personalised user experiences for the first time. This helps to strengthen engagement, increase wagering activity and ultimately drive the highest lifetime value out of each and every one of their players.
PE – In what ways can AI be effectively utilised to counter risks of fraud during the betting payments journey?
VA – AI can monitor the entire customer journey before and after a deposit/withdrawal is made and then analyse what that journey looks like.
It can then compare this against known fraudulent activity and then automatically raise the alarm for the fraud team or even take immediate action if necessary.
Operators using AI as part of their anti-fraud protocols and processes will be able to better detect and respond to potential and actual fraud than those that do not.
PE – How significant can AI technology be in helping improve customer acquisition and retention capabilities in betting and gaming?
VA – We believe it will be hugely significant when it comes to customer acquisition and retention. It is something that we are currently tracking and monitoring but have set an internal target of a 10% uplift in conversion rates for our partners.
Not only that, but our AI engine also saves the marketing team many hours as they do not have to create countless banners and use valuable resources to manage them.
Operators already using Zing AI are seeing on average a 20% increase in turnover, a 30% rise in bet count, a 150% jump in bet count per widget and a 150% boost to user engagement. These are significant numbers and are further evidence of the power of AI when it comes to acquisition and retention.
PE – Can AI be utilised in order to increase social responsibility and detect potentially harmful betting patterns?
VA – Absolutely. In the same way that it can be used to detect fraud in payments, AI can monitor an individual player’s journey, patterns and behaviours in real time and compare this to known problem gambling play.
It can then automatically intervene if combined with automated products such as live chat bots or raise the necessary flags among responsible gambling and compliance teams. AI for responsible gambling is a great way of preventing problem gambling before it actually happens because it can make the necessary interventions early on.
PE – In terms of operator expansion, is there a role for AI when it comes to regulatory compliance in new regions?
VA – It is still very early days for AI within the online gambling space and as operators and suppliers fully explore its capabilities it will become widely used across all areas of online sportsbooks and casinos, from payments to responsible gambling as well as rewards, recommendations and of course compliance.
The possibilities for AI are endless and I believe it will become a major focus for operators looking to streamline their businesses while drastically improving the player experience.
PE – What role can AI play in further establishing and developing the burgeoning North American betting industry?
VA – AI will be a game changer in the North American market, especially when it comes to operators recommending games, odds, markets, etc to players.
The US audience is one that is incredibly familiar with streaming, social media and other entertainment options where recommendations are a driving force behind the high levels of engagement they provide, so they will absolutely expect this when it comes to online sports betting and casino.
Operators must remember that player preferences will differ from state to state, so it is crucial that they are pushing content, bonuses, rewards, etc that appeal to individual players. Only with this deep level of personalisation – powered, of course, by AI – will the true potential of the North American market be unlocked.