THE FUTURE Synopsis
The world has evolved at an extraordinary pace - placing digital platforms at the heart of consumers’ habits. The tech world has never been more advanced - from cloud computing, Xaas to AI and the creation of virtual currencies and digital ledgers. With these cutting-edge innovations adopted by many industries, there is a sense of urgency for iGaming to catch up. From the lack of user journey tracking, to basic entertainment experience recommendation systems (such as what Netflix or Amazon Prime have been doing for a few years now), and AI analysis systems on customer behavior still in their infancy, there is a great deal for iGaming to focus on and invest in to deliver truly immersive experiences that the new generation of digital players are demanding.
iGaming is heavily regulated but it is also an industry that is slow moving compared to emerging technologies that have, so far, been out of this regulatory scope. We also have to remember that today’s players are younger, well-educated, often affluent and digitally savvy with profiles that match that of early cryptocurrency adopters.
Therefore, they often also have higher expectations in terms of speed- to-market and innovation and, as a result iGaming must learn to adopt fresher technologies faster and more effectively.
OPPORTUNITIES FOR THE IGAMING INDUSTRY
Much of our industry is commoditised with suppliers providing games and aggregation, so what makes one stand out over the other and
why should customers use such services? With every passing month, the competition is getting tougher, and players have more choice but largely from the same content. So, with little differentiation, now is the ideal time to invest in change.
Seven years in the making
iSoftBet’s new white paper outlines the steps the iGaming industry urgently needs to take to deliver futureproofed entertainment experiences
6 MAY 2021 GIO
At iSoftBet, Neal Garman, CTO worked in close collaboration with Kristian Foged, Founder and Director of Analytics & Strategy at Simply Thought to identify the technology trends and stories the industry is currently talking about.
The output of this research* is clear: there are few tech stories that acknowledge the lack of platform attention and investment (only ~13% of online casino conversations are tech related and such content covers general tech trends, quantum computing, use of VR and AI impact - with no real practical output).
“What we’re seeing is a lot of talk about the shiny future – about potential applications of new technologies and talk of transformation. What we’re not seeing is the answer to the more fundamental question: ‘How?’ Disruptive technology can’t just be bolted onto legacy systems, so the industry needs to answer how they plan to put themselves in a position to leverage not just one new technology, but the next three, five or ten,” says Kristian Foged on the research.
*2020, English language, online casino keywords, Quid AI software analysis - all rights reserved.
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