With July 16 marking AI appreciation day, the igaming industry is still fully looking to eradicate nervousness and fully embrace the new technology to maximise AI and elevate the player experience.
Speaking at the CasinoBeats Summit in Malta earlier in the year, Sergio Muscat, the founder of Oxygia Consulting, emphasised that new tech is almost always accompanied by an element of fear and regulation. He was speaking just a day after the European Council approved the new AI act, which he described as ‘a major step’ for the industry.
With the integration of new technologies, ‘balance is key’ as regulatory frameworks need to sync with the tech and the risks can be dealt with in a way that doesn’t halt new innovations.
Fiorella Pizarro, Head of Compliance at L&L Europe, also outlined the importance of providing the human touch to the development of the tech and ensuring ethical use of AI fuels its trust amongst consumers.
She added that onus is on the humans to teach the tools to be embedded and trustworthy. It’s something that she believes can be developed over time and with training, citing the positivity of IBM’s pillars as a strong asset for focus on AI.
An area often observed as being heavily impacted by AI is personalisation. Operators of various sizes and technological prowess have been eyeing up how to use AI to gain a deeper understanding of players.
This is evident when it comes to the payment journey, AI’s significant influence on evolving payments and fintech is something that can be monumental.
Daniela Speranza, the Head of Legal and Compliance at Multiple Group, detailed that amidst AI being further integrated into the lives of humans, we are embarking on ‘a transformational period’ its growth into the mainstream. At both ends of the spectrum are the responsible use of AI and those that are looking to abuse the tech.
Identifying the full spectrum of users enables a more efficient process when it comes to the definition of regulation and tackling the unethical use of AI. It’s an evolution though, according to Speranza that can be key to redefining industries and companies.
What is at the heart of the growth of AI is marrying it with the human touch – a sentiment that was echoed by Payment Expert Editor, Ted Orme-Claye on a recent episode of the iGamingDaily underlining his belief that whilst AI can bring key data for the forefront of focus, it needs a human touch to act upon the data and maximise its usage.
Looking ahead Orme-Claye also predicted that the newly elected Labour government will keep a close eye on AI development. Keir Starmer’s government will likely look to build on its Conservative predecessor’s efforts in this area, although maybe whilst implementing some new frameworks of their own.
