How #AI is Changing the #Sports Industry - #Stocks to
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#Artificialintelligence
Vancouver, Kelowna,
Delta, BC – July 22, 2022 – Investorideas.com (www.investorideas.com), a global investor news source covering
Artificial Intelligence (AI) stocks
releases a sector snapshot looking at the growing AI tech implementation in the
sports market, featuring AI innovator GBT Technologies Inc. (OTC PINK:GTCH).
Read
this article, featuring $GTCH in full at https://www.investorideas.com/news/2022/artificial-intelligence/07221Sports-Industry.asp
As with so many other sectors, the sports industry is
seeing increasing penetration of Artificial Intelligence (AI) related
technologies as aspects of the medium become more and more digitized. A
recently published report from Vantage Market Research finds that the global
market for AI in Sports is projected to grow from $1.62 billion USD in 2021 to
$7.75 billion by 2028, registering a compound annual growth rate (CAGR) of 29.7
percent in the forecast period 2022-28. According to a market synopsis from the
report, AI is being leveraged by a number of firms to track player performance,
improve the player's health, and to improve sports planning.
One such firm is GBT Technologies Inc. (OTC PINK:GTCH), an early stage
technology developer in IoT and Artificial Intelligence (AI) Enabled Mobile
Technology Platforms, which recently completed phase one of its intelligent soccer
analytics platform through its 50 percent-owned joint venture GBT Tokenize
Corp. (GTC). Given the internal codename of smartGOAL, the platform is “an
intelligent, automatic analytics and prediction system for soccer game's
results,” which works by analyzing and predicting “possible outcomes of soccer
games results according to permutations, statistics, historical data, using
advanced mathematical methods and machine learning technology.” GBT’s CTO,
Danny Rittman, explained:
"Considering
the popularity of the game in the present world, we believe organizations will
be interested in prediction systems for the better performance of their teams.
As interesting as it may seem, prediction of the results of a soccer game is a
very hard task and involves a large amount of uncertainty. However, it can be
said that the result of football is not a completely random event, and hence,
we believe a few hidden patterns in the game can be utilized to potentially
predict the outcome. Based on the studies of numerous researchers that are
being reviewed in our study as well as those done in the previous years, one
can say that with a sufficient amount of data an accurate prediction system can
be built using various machine learning algorithms. While each algorithm has
its advantages and disadvantages, a hybrid system that consists of more than
one algorithm can be made with the goal of increasing the efficiency of the
system as a whole. There also is a need for a comprehensive dataset through
which better results can be obtained. Experts can work more toward gathering
data related to different leagues and championships across the globe which may
help in better understanding of the prediction system. Moreover, the distinctive
characteristics of a soccer player, as well as that of the team, can also be
taken into consideration while predicting as this may produce a better result
as compared to when all the players in a game are treated to be having an equal
effect on the game. The more information the system is trained with, we believe
the more accurate the predictions and analysis will be. One of our joint
venture companies, GTC, aimed to evaluate machine learning-driven applications
in various fields, among them are entertainment, media and sports. We believe
smartGOAL is an intelligent application that has the ability to change the
world's soccer field when it comes to analytics and game score predictions.”
Elsewhere, Amazon Web Services (AWS), a subsidiary of
tech giant Amazon (NasdaqGS:AMZN), announced a collaboration with Maple Leaf
Sports & Entertainment (MLSE), a sports and entertainment company that owns
a host of Toronto-based sports franchises, to innovate the creation and
delivery of “extraordinary sports moments and enhanced fan engagement.” This
will see MLSE utilize AWS AI, machine learning (ML), and deep learning cloud
services to support their teams, lines of business, and how fans connect with
each other and experience games. Humza Teherany, Chief Technology & Digital
Officer at MLSE, commented:
“We
built Digital Labs at MLSE to become the most technologically advanced
organization in sport. As technology advances and how we watch and consume
sports evolves, MLSE is dedicated to creating solutions and products that drive
this evolution and elevate the fan experience. We aim to offer new ways for
fans to connect digitally with their favorite teams while also seeking to
uncover digital sports performance opportunities in collaboration with our
front offices. With AWS’s advanced machine learning and analytics services, we
can use data with our teams to help inform areas such as: team selection,
training and strategy to deliver an even higher caliber of competition. Taking
a cloud-first approach to innovation with AWS further empowers our organization
to experiment with new ideas that can help our teams perform their very best
and our fans feel a closer connection to the action.”
Similarly, IBM (NYSE:IBM),
the “Official Technology Partner of The [tennis] Championships for the past
33-years, has recently, alongside the All England Lawn Tennis Club, unveiled “new ways for Wimbledon fans around
the world to experience The Championships digitally, powered by artificial
intelligence (AI) running on IBM Cloud and hybrid cloud technologies.” Kevin
Farrar, Sports Partnership Leader, IBM UK & Ireland, explained:
"The
digital fan features on the Wimbledon app and Wimbledon.com, beautifully
designed by the IBM iX team and powered by AI and hybrid cloud technologies,
are enabling the All England Club to immerse tennis lovers in the magic of The
Championship, no matter where they are in the world. Sports fans love to debate
and we're excited to introduce a new tool this year to enable that by allowing
people to register their own match predictions and compare them with
predictions generated by Match Insights with Watson and those of other fans.”
Another firm cited in the Vantage Market Research
report on AI in Sports was sports performance tech firm Catapult Group
International Limited (OTC:CAZGF), who recently reported a multi-year deal with the German
Football Association (DFB-Akademie) to “capture performance data via video,
track athlete performance via wearables, and improve the analysis
infrastructure at all levels of the German National Football Teams.” Will
Lopes, CEO of Catapult, commented:
"We
strive every day to unleash the potential of every athlete and team, and we're
proud to partner with the prestigious German Football Association to fulfill
that ambition. We're looking forward to partnering with the DFB to unlock what
even the best coaches in the world cannot see on film or from the sidelines.
This technology will empower athletes at all levels with data and insights to
perform at their best."
With the seemingly inexorable tendency toward
digitization in the presentation and analysis of sports, the accompanying use
of AI-related technologies seems equally inevitable as is already borne out by
current industry trends.
For a list of artificial intelligence stocks
on Investorideas.com visit here
About
GBT Technologies Inc.
GBT
Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers
itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and
Enabled Mobile Technology Platforms used to increase IC performance. GBT has
assembled a team with extensive technology expertise and is building an
intellectual property portfolio consisting of many patents. GBT’s mission, to
license the technology and IP to synergetic partners in the areas of hardware
and software. Once commercialized, it is GBT’s goal to have a suite of products
including smart microchips, AI, encryption, Blockchain, IC design, mobile security
applications, database management protocols, with tracking and supporting cloud
software (without the need for GPS). GBT envisions this system as a creation of
a global mesh network using advanced nodes and super performing new generation
IC technology. The core of the system will be its advanced microchip
technology; technology that can be installed in any mobile or fixed device
worldwide. GBT’s vision is to produce this system as a low cost, secure,
private-mesh-network between any and all enabled devices. Thus, providing
shared processing, advanced mobile database management and sharing while using
these enhanced mobile features as an alternative to traditional carrier
services.
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