Malta: Online gambling and AI in Europe
Over the past years, the internet gambling business like other business including Spotify, Netflix, and Amazon to mention a few, has transformed through artificial intelligence (AI) and will likely continue to be transformed in years to come as AI use becomes more exponential. The use of AI in these industries helps to learn habits, patterns, behaviour (sometimes even emotions), interactions and thus maximise the potential reach of services and products offered by these companies. In the online gambling arena however, AI can also introduce new forms of gambling or social betting, where AI could automate and create odds, set the pay-outs as well as target the atypical segment users for this form of betting/gambling.
AI technology is also a formidable ally to optimise customer service, prevent fraud, automate some regulatory compliance including AML and CFT checks. It can be used for on boarding, age controls, geolocation etc. AI is used as well to control behaviour of players to be able to monitor problematic gamblers and intervene before they elicit to self-exclude themselves. The self-exclusion process can also be handed through AI. AI also helps in using customer’s data more fruitfully and thus build better products and more personalised experiences for the players. Its full potential is still untapped, and we anticipate wider industry use of AI in the gambling sector over the coming years.
To this end, gambling operators need to follow the developments on the new draft EU regulation closely, as certain AI systems they deploy or plan to deploy could either fall within this category of High-risk AI in Annex 3 of the EU draft regulation.
To view this article in full visit https://www.gtgadvocates.com/online-gambling-ai-in-europe/
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