FinancialBuzz.com News Commentary
New York, NY (02/02/2023) – 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. (TSXV: RGG) (OTC: ITMZF), International Business Machines Corporation (NYSE: IBM), Intel Corporation (NASDAQ: INTC), DraftKings Inc. (NASDAQ: DKNG), C3.ai, Inc. (NYSE: AI)
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.
React Gaming Group Inc. (TSX-V: RGG) (OTCQB: ITMZF) announced yesterday breaking news regarding, “its 2023 plans to enhance the capabilities of its online esports tournament and betting platforms, Compete.gg 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 Compete.gg 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.
In any sport, the ability to analyse performance and use that insight to predict the outcome is very valuable. Esports are different from traditional sports in that everything about them is digital. These digital landscapes generate a huge amount of data, in a way that no other sport can. This gives AI a huge advantage for analysis and prediction.
React Gaming’s primary goal with Compete.gg is to pursue the development of its universal and accessible esports tournament platform that enables gamers worldwide to win money playing their favorite video games. AI and machine learning would come into play here by helping the Corporation to further develop its Smart AI Tournament System, which would enable it to scale with demand and facilitate and run online esports tournaments in a much more straightforward and effective manner. More precisely, this would involve exploring the exciting possibilities of AI technology to revolutionize the online esports tournament space. Our goal is to utilize AI algorithms to generate the fairest and most competitive tournaments possible, in real time. These algorithms will consider player performance, past tournament results, and various other factors to craft optimized schedules, matchups, and pairings. We also plan to use AI to help tournament organizers (TO), of any size, quickly establish a home for themselves on our platform, making it easier for TOs to run and facilitate a wide array of esports tournaments online while also strengthening their brand recognition.
With LOOT.BET, AI would be used to generate live-data integration, in-game analytics, predictive modeling and personalized recommendations, just to name a few. AI and ML would work together to derive high-quality insights that could be very useful for the people betting on React Gaming’s LOOT.BET esports platform, while enhancing its performance.
‘Our main goal will be to use AI and ML to provide a best-in-class experience for our users, prevent cheating, and predict outcomes of matches to provide keen insights for our players, which could all lead to increased fan engagement, the main revenue driver in esports,’ concluded Mr. Hughes.”
International Business Machines Corporation (NYSE: IBM) reported yesterday 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.
Intel Corporation (NASDAQ: INTC) announced on a blog post from December that Intel, Habana Labs and Hugging Face have continued to improve efficiencies and lower barriers for adoption of artificial intelligence (AI) through open-source projects, integrated developer experiences and scientific research. This work resulted in key advancements and efficiencies for building and training high-quality transformer models. Transformer models deliver advanced performance on a wide range of machine and deep learning tasks like natural language processing (NLP), computer vision (CV), speech and others.
DraftKings Inc. (NASDAQ: DKNG) announced back in September that has selected DraftKings as a sponsor for Thursday Night Football (“TNF”) on Prime Video. The multi-year collaboration between DraftKings and Amazon will deliver fans engaging pregame content and unique betting offers every Thursday throughout the NFL season, beginning September 15, 2022. “The NFL season is the most active time of year for our customers, so collaborating with one of the world’s leading technology brands in order to offer engaging content to viewers of TNF on Prime Video is a tremendous opportunity for DraftKings,” said Stephanie Sherman, Chief Marketing Officer of DraftKings. “Prime Video is an innovator in live content and we both have a similar focus on constantly improving our customers’ experiences. We look forward to working with Amazon to bring millions of viewers a premium and enhanced experience during TNF on Prime Video all season long and for years to come.” As part of the multi-year agreement, TNF will contain DraftKings integrations in the live pregame, including odds and additional sports betting insights. DraftKings and Amazon will also collaborate on TNF-themed offerings, including same-game parlays, which will be available on the DraftKings Sportsbook app.
C3.ai, Inc. (NYSE: AI), the Enterprise AI application software company, announced earlier this week the launch of the C3 Generative AI Product Suite with the release of its first product — C3 Generative AI for Enterprise Search. “C3 Generative AI fundamentally changes the human computer interaction model of enterprise application software,” said C3 AI CEO Thomas M. Siebel. “Combining the full potential of natural language, generative pre-trained transformers, enterprise AI, and predictive analytics will change everything about enterprise computing.”
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