FinancialBuzz.com News Commentary
NEW YORK, Feb. 1, 2023 /PRNewswire/ — The eSports industry has had to overcome major obstacles en route to its current status. In previous years, limited tournament infrastructure and a lower number of organizations have restricted the market growth. Such limitations resulted in fewer revenue streams for players and team owners. However, in 2017, Riot Games created the League of Legends for the North America and Europe region, giving a structured format to the tournament. Later, in 2018, Activision Blizzard, Inc. launched its Overwatch league, creating the requisite infrastructure for the monetization of eSports tournaments. Among the many technological innovations that contribute to eSports, artificial Intelligence (AI) has become a useful tool for gamers and developers alike. For example, many players are demanding coaching apps, which are based on AI. AI-powered coaching offered by SenpAI suggests better strategies for some of the best video games such as DotA 2 and League of Legends by accessing player stats. SenpAI also offers in-game guidance by providing in-depth stats for players to analyze. React Gaming Group Inc. (TSX-V: RGG) (OTC: ITMZF), Electronic Arts Inc. (NASDAQ: EA), C3.ai, Inc. (NYSE: AI), BuzzFeed, Inc. (NASDAQ: BZFD), Mobile Global Esports Inc. (NASDAQ: MGAM)
Outside of the eSports segment, AI is making impressive strides. 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. The popularity it has gained since has boosted OpenAI’s value to USD 29 Billion. In addition, last week Microsoft has confirmed that it is extending the partnership with OpenAI, with a rumored investment of USD 10 billion as the tech giant is looking to accelerate the breakthroughs in AI. Microsoft Azure will also continue as the exclusive cloud provider for the chatbot as OpenAI uses Azure to train all its models.
React Gaming Group Inc. (TSX-V: RGG) (OTCQB: ITMZF) just announced 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.”
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.
C3.ai, Inc. (NYSE: AI), the Enterprise AI application software company, announced yesterday 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.”
BuzzFeed, Inc. (NASDAQ: BZFD) announced last week it would rely on ChatGPT creator OpenAI to enhance its quizzes and personalize some content for its audiences, becoming the latest digital publisher to embrace artificial intelligence. According to the Wall Street Journal, in a memo to staff sent last Thursday, Chief Executive Jonah Peretti said he intends for AI to play a larger role in the company’s editorial and business operations this year.
Mobile Global Esports Inc. (NASDAQ: MGAM) is a mobile esports and social platform company that holds trademark and IP rights for collegiate esports tournaments, teams, and players in India. Mobile Global Esports was organized in March of 2021 to carry on and expand an esports business. Back in December the Company announced that its Indian operating subsidiary – MOGO Esports Private Ltd. – has signed the six winners of the MOGO National Championships to exclusive esports representation and tournament development contracts.
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