The implementation of blockchain and AI technology across all sectors of the economy is already increasing in 2021. You can use it for whatever you want, from remotely controlling your home’s applications to monitoring your dog’s daily activities. Is it, however, possible to use it to assist problem gamblers at a time when the pandemic is exacerbating their addiction?
A gambling addiction can be identified in a variety of ways. Two of the most common signs and symptoms of gambling addiction are the need to gamble with larger sums of money to feel any excitement and the inability to cut back or quit gambling. Problem gamblers will borrow money and fabricate information about their gambling habits. Problem gamblers will also fabricate information about their gambling habits.
Gambling, like other addictive behaviors, provides an escape from reality. Although it may appear to be harmless at first, it can have serious financial consequences, destroy relationships, and lead to more severe psychological and even physical problems over time. Although it may appear to be innocuous at first, it can have serious financial consequences.
What exactly can technology do for us?
Many features are pre-installed at online casinos and betting sites to give the players some control over their gambling activities. Having said that, the player is ultimately responsible for making the decisions. The amount of money you can deposit at some establishments is limited, and you may be given the option to limit the amount of time you spend gambling. Problem gamblers, on the other hand, can circumvent these settings at any time.
Artificial intelligence technology is used in this case. It will interpret the raw data and results and make decisions based on the computations they have run. That is precisely what Entain, a UK-based company, is attempting to achieve by utilizing big data to develop a system that can protect problem gamblers from themselves. The software, known as the Advanced Protection and Care (ARC) system, can proactively flag and cut off players by partially disabling their access to prevent the players from causing financial harm to themselves.
As a result, the goal of using AI is to take a preventative approach by monitoring gamblers and modifying their playing experience based on the results of this monitoring. When a user exhibits erratic behavior and is clearly on a losing streak, an artificial intelligence system can alert customer service to intervene. Those suffering from gambling addiction may discover that technology can be of great assistance by acting as a safety net for problem gamblers.
When exactly will it be implemented?
Several companies are currently working on AI that is being developed specifically for this purpose. Midway AI, for example, is developing a novel approach to the problem of problem gambling by incorporating aspects of neuroscience and AI. Midway AI plans to improve its product further by using a more scientific methodology and by collaborating with psychologists and other specialists in related fields. To prevent problem gambling before the player is aware that they have developed a destructive habit, the software will cross-check vast amounts of data from players with expert opinions.
As things currently stand, the majority of online gambling platforms offer gamblers few options for limiting their spending and seeking help for their addiction. The only other option is to close the account, but the vast majority of compulsive gamblers will not do so.
The good news is that new tools have recently been created, such as Midway AI’s GameChanger, which was recently released. In a nutshell, the overall goal is to show players how to break their gambling addiction in a manner reminiscent of Pavlovian conditioning. This is accomplished by displaying a series of images that include gambling as well as those that do not. Following that, the software calculates the number of non-gambling images that were passed up to determine how successful the player was in avoiding clicking on gambling images.
After undergoing some basic psychological conditioning and training, players can begin to learn how to control their impulses. With this, they might be able to kick their gambling habit.
So, what about blockchain technology?
Another industry-changing development is the use of blockchain technology in the gambling industry. The most important aspect it brings to the table is transparency, which is desperately needed given the disparities in gambling legislation around the world. This is the most significant contribution it makes. The use of blockchain technology in gambling contracts ensures that the information cannot be changed and is accessible to the general public. Removing the element of human error and making the process open to public scrutiny, could contribute to the development of a more robust legal framework for gambling operations around the world.
Second, blockchain and AI are inextricably linked, allowing AI to access data and gambling statistics in real-time. The blockchain makes this possible. This improves the efficiency of the entire process, from early detection of a problem gambler to intervention. Blockchain is critical for the development of artificial intelligence and software to address the issue of problem gambling because it allows vast amounts of data to be transferred more quickly and securely.
In a nutshell, the combination of artificial intelligence and blockchain technology is already helping to combat gambling addiction. Even though it is still in its infancy and there are only a few products on the market, this technology has enormous potential ramifications for the gaming industry.
They are finally in a position to address long-standing issues in the gambling industry, such as addiction and comprehensive regulations. While artificial intelligence may be able to assist in the resolution of the former issue, blockchain technology may be able to assist in the development of more openly accessible regulations.