FinancialBuzz.com News Commentary
New York, NY (02/06/2023) – Artificial intelligence (AI) is projected to be a rapidly growing market over the next 10 years. The growth of AI is largely driven by advancements in technology and the increasing demand for intelligent automation and data-driven decision making in various industries. AI technology is widely used in many groundbreaking applications in industrial, automotive and video gaming. Now, smartphones industry has also started utilizing AI technology, and it goes far beyond applications such as digital assistants. Several mobile manufacturing companies are competing to develop AI features for smartphones according to the needs of the users. Chat Generative Pre-Trained Transformer, commonly called ChatGPT, a chatbot launched by OpenAI in November 2022, quickly garnered attention for its detailed responses and articulate answers across many domains of knowledge. Overall, according to data provided by Grand View Research, the global artificial intelligence market was valued at USD 136.55 Billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030. React Gaming Group Inc. (TSX-V: RGG) (OTC: ITMZF), International Business Machines Corporation (NYSE: IBM), Activision Blizzard, Inc. (NASDAQ: ATVI), SentinelOne, Inc. (NYSE: S), Electronic Arts Inc. (NASDAQ: EA)
The integration of AI in industries such eSports has been significant, with AI being used to enhance the viewing experience for fans and to make more accurate predictions for eSports betting. So far, AI algorithms are being used to analyze player performance, predict match outcomes, and provide insights into player behavior. For example, Unikrn, a leading eSports betting platform, uses AI to power its betting engine and to provide real-time odds and predictions. Another example is the use of AI to enhance the broadcast experience, such as providing in-game statistics, player performance analysis, and personalized highlights. Furthermore, the growth of the AI market and its integration into the eSports industry is expected to drive further growth and innovation in the years to come.
React Gaming Group Inc. (TSX-V: RGG) (OTCQB: ITMZF) just announced breaking news regarding, “Compete.gg’s growth strategy for 2023 and beyond.
‘Since rebranding our Compete.gg platform last Spring, we have increased the number of game titles and enhanced the platform functionalities, allowing us to more than double the number of users,’ said Leigh Hughes, CEO of React Gaming. ‘In 2023, we will be even more active as we integrate new AI capabilities to the platform, offering best-in-class experience to improve fan engagement. We will also target esports markets that have shown rapid growth in the last few years, namely Latin America, Southeast Asia and the Middle East, where we already have started to build strong connections with new fan bases.’
One key aspect of AI/ML tech is that it can drive revenue for Compete.gg via predictive analytics. By analyzing user data and behaviour, the platform can provide insights and recommendations to users about tournaments, players, and other features that are most relevant to their interests. This not only creates a more enjoyable experience for users but also increases the likelihood that they will participate in more tournaments and engage more deeply with Compete’s platform.
Another way that AI/ML can drive revenue for Compete is through targeted advertising. By using machine learning algorithms to understand user behaviour and interests, the platform can serve more relevant and effective advertisements to users, leading to increased click-through and higher conversion rates. It also allows the platform to better pair advertisers with the right tournament organizers and brands.
Additionally, and probably most importantly, by leveraging AI and ML, Compete can optimize its tournament creation and management processes, making it easier and more efficient for tournament organizers to run tournaments and manage their communities. This can help reduce administrative overhead and increase the number of tournaments offered on our platform, further increasing user engagement and driving revenue.
When looking at the long-term picture for Compete, mobile is the future. With over 3.2 billion gamers world-wide (source: Statista) and 61% of US adult gamers playing on their mobile phones (source: Entertainment Software Association), mobile is the next logical step. The integration of AI and ML into a Compete mobile offering can significantly increase the company’s revenue in the next two years by providing users with a more personalized and engaging experience, increasing the effectiveness of targeted advertising, and streamlining tournament management processes, all via the one device everyone has in their pocket, a smartphone. The good news is that Compete’s platform is built to be adaptable to mobile functionalities, but it will take some time to become fully operational.
‘For the time being, we will prioritize short-term revenue generation, through AI and expanding our fan base into new markets, and work on mobile as a longer-term growth initiative,’concluded Mr. Hughes.”
International Business Machines Corporation (NYSE: IBM) reported last week a collaboration to use IBM’s artificial intelligence (AI) technology to discover new insights in NASA’s massive trove of Earth and geospatial science data. The joint work will apply AI foundation model technology to NASA’s Earth-observing satellite data for the first time. Foundation models are types of AI models that are trained on a broad set of unlabeled data, can be used for different tasks, and can apply information about one situation to another. These models have rapidly advanced the field of natural language processing (NLP) technology over the last five years, and IBM is pioneering applications of foundation models beyond language.
Activision Blizzard, Inc. (NASDAQ: ATVI), King, a subsidiary of Activation Blizzard, reported last month the acquisition of artificial intelligence software company Peltarion. Peltarion is a Swedish artificial intelligence (AI) software company and developer of a no-code, machine learning operations platform that empowers users to design, train and manage deep learning models in the Cloud at scale and at speed. King’s acquisition of Peltarion will accelerate the current use of AI and machine learning technology in King’s game platform, a key area of ongoing strategic direction for the company. With this investment, King aims to continue to build top-tier AI and machine learning capabilities and teams – enabling a new generation of innovative game design, development and live operations capabilities and becoming a hub for the world’s top talent in game AI.
SentinelOne, Inc. (NYSE: S) is cybersecurity solution encompasses AI-powered prevention, detection, response, and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous XDR platform. Last year, the Company announced that it has completed the acquisition of Attivo Networks. SentinelOne previously announced the agreement to acquire Attivo Networks on March 15, 2022. Attivo Networks is a leading identity security and lateral movement protection company with a rapidly growing business serving hundreds of global enterprises including Fortune 500 organizations. With this acquisition, SentinelOne extends Singularity XDR capabilities to identity-based threats across endpoint, cloud workloads, IoT devices, mobile, and data wherever it resides, setting the standard for XDR and accelerating enterprise zero trust adoption.
Electronic Arts Inc. (NASDAQ: EA) announced in a blog post the company’s Frostbite Labs team joining in partnership with OpenAI, an organization committed to advancements in artificial intelligence that will make a positive global impact. In OpenAI’s new software platform called Universe, the research community will have the opportunity to challenge self-learning AI agents to try to automatically learn to play EA games such as Mirror’s Edge™, Command & Conquer: Red Alert 2™ and Peggle™. The learnings we can take as a technology community from this work will help to fuel new concepts in gameplay, services and game development.
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