AXES.AI
pays for is the thing that goes inside the slot machine which is a cheap, one time cost. That is the only piece of hardware they need, everything else is sitting in the Cloud. Then if they only wanted alerts, monitoring and reporting which is our basic app package, that is around 50¢ at the most. With their total cost of ownership, we became very disruptive with the early adopters because all of our clients are technology-savvy, they understand the Cloud and the financial proposition was so compelling they could not decline it. Not only are they getting the AXES system for 10x less the cost of a monolithic legacy system, but they’re getting 10x the value because they’re getting everything in real-time, updates from the Cloud every week and new apps being developed regularly. In our system, you only pay for what you subscribe to and it’s so modular that once you have the base, you can grow over time with it.
JB: How does this low-cost solution keep the company running? EH: We have great investors. When I started out, I said to the Board of Directors
44 DECEMBER 2022
general patterns for example where the clients are not making enough money according to specific parameters, the system can then generate the app according to this.
that for me to do what I need to do, it’s going to take 10 years. There are four stages to the AXES business plan. Phase one was getting us operational with a good number of clients, and getting our cashless, apps and Cloud to work. Phase one took us around five years because of all the components we needed to establish. Phase two, which took around three years, was about creating a Cloud infrastructure which was elastic and could grow fast. It took around $10M-$12M building that infrastructure. We’re now in phase three which is getting all the jurisdiction licenses to get into tribal markets, and tier-one markets. Phase four is the reason I joined the company, that is where we’re going to build the dedicated artificial intelligence team. We need to start to build all of the predictive algorithms so that our database is generating apps by itself. The algorithms will mine the data and see
JB: What is the obstacle for industry- wide implementation of this technology? EH: The only obstacle is education. We have done a bad deed in the land-based industry. We’ve put all the pressure on the operators, so we have fuzzy policies and procedures for responsible gaming and AML. We then go out and reprimand operators because they cannot implement them properly. The reason I invest so much time on the Gaming Standards Association and the Government Blockchain Association is because the more we can educate the regulators, machine manufacturers, the more this technology will be implemented. We’ve got to educate regulators that this is the easy way to fix their problems. More companies will adopt this solution which means more competition and faster education. I’m waiting for more competitors to show up, as of now we don’t have any.
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