eSports Platforms Integrate Advanced AI Capabilities in an Effort to Aid Bettors


Artificial Intelligence (AI) is in the forefront of technological innovations, with ChatGPT, launched by OpenAI, leading the new wave of interactive language based chatbots. Major tech conglomerates are also in the race to create their own versions of chatbots capable of conversing with a person via text and generate a wide range of content upon request. Last week, Microsoft confirmed that it is extending its partnership with OpenAI with a rumored investment of USD 10 Billion. Additionally, CNBC reported yesterday that Google is working on a project under its cloud unit called “Atlas,” which is a “code red” effort to respond to ChatGPT. Furthermore, one of the test products is a chatbot called Apprentice Bard, which uses Google’s conversation technology LaMDA, or Language Model for Dialogue Applications. Overall, according to data provided by Precedence Research, the global artificial intelligence (AI) software market size was estimated at USD 138.4 Billion in 2022, and is expected to surpass USD 1.09 Trillion by 2032 with a CAGR of 22.97%. React Gaming Group Inc.

AI can be utilized across a wide range of industries and be used by professionals and users from all industries. In the gaming industry, AI manifests itself by providing real-time statistics about eSports players, teams and events that inform betting odds and provide context to bettors. Due to its digital nature, eSports requires more data driven capabilities than traditional sports. Companies like IBM recognized this need. IBM has recently introduced Power Rankings with Watson, an AI-powered method of evaluating player and team performances in the Overwatch League. In addition, AI can also identify risky betting behaviors and illegal operations.

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React Gaming Group Inc. announced yesterday breaking news regarding, “its 2023 plans to enhance the capabilities of its online esports tournament and betting platforms, and LOOT.BET, through the integration of artificial intelligence (AI) applications and machine learning (ML) techniques.

Esports is a large and growing market with revenues that are expected to reach $1.87 billion in 2025, according to market analytics firm Statista. As this booming industry grows, AI is widely seen as having the potential to bring about significant revenue opportunities in the next decade. AI’s ability to automate repetitive tasks, make smart decisions, and analyze large amounts of data faster than humans, makes it a valuable tool for businesses across various industries, including gaming and esports. In the online esports space, AI can help improve tournament organization and player engagement, provide valuable insights for sponsors, and streamline betting and wagering processes, amongst many other applications that could benefit and LOOT.BET. This is why we will focus in 2023 on enhancing our AI capabilities in both our online esports platforms,” said Leigh Hughes, CEO of React Gaming.

SOURCE: PR Newswire