Tech Watch for Native Casinos: Staying Abreast of Technological Trends Over the Next Three to Five Years (Regarding Native Casinos, it's crucial to monitor upcoming tech trends within the next 3-5 years)
In the realm of hospitality, autonomous operations and agentic AI are making their mark, with casinos being no exception. At the recent TribalNet Conference & Tradeshow in Reno, Larry Fretz, Senior Managing Partner for Gaming and Hospitality at Info-Tech Research Group, shared his insights on this evolving landscape.
Fretz highlighted the importance of layering technologies to provide value, particularly in casinos. He proposed the concept of an action layer, suggesting a small, low-risk pilot to explore its potential. This layer could automate low-value repetitive activities, drive down costs, and enable properties to redeploy employees.
One such technology under consideration is mobile identification. Ohio has already made strides in this area, accepting mobile IDs, but not all jurisdictions have followed suit. This innovation could help reduce friction points for customers, making their experience smoother and more efficient.
However, with these advancements come new challenges. For instance, the rise of AI avatars mimicking human voices in call centers could potentially lead to deep fakes, a significant concern for casinos. To prepare for this, Fretz emphasized the need for casinos to build verifications into their processes, such as verifying the identity of callers through known phone numbers.
Another innovation Fretz discussed was the use of digital twins. These digital replicas could represent customers' characteristics in the future, providing real-time models of customer behavior. This could be particularly useful in analyzing customer behavior after an event or concert, improving customer service, and making targeted offers.
The future of casinos also involves the use of AI for personalized offers to players in real time. This could revolutionize the gaming experience, making it more tailored and engaging for each individual player.
Robotics, cashless gaming, and digital experiences are no longer emerging trends but are becoming integral parts of the casino industry. To stay ahead, properties must be prepared to adapt and innovate.
Moreover, the concept of self-sovereign identity is being tested in Europe, where customers own their information and interact with businesses based on trust, rather than out of necessity. This could potentially streamline processes and enhance customer experiences.
As casinos prepare for the next step, which includes layering in sports betting and online gaming, Fretz's insights provide a roadmap for the industry. With his extensive experience as a casino-industry consultant and his role as the vice president of industry research and senior managing partner of gaming and hospitality at Info-Tech Research Group, Fretz is well-positioned to guide the industry into the future.
Fretz also emphasized the need for properties to be vigilant against fraud. Impersonations have already led to significant losses for properties, with costs ranging from $250,000 to over $1 million. To combat this, properties must invest in robust verification systems and processes.
In a world where nine out of ten chief information officers say it's about doing more with less, these innovations could provide a solution, helping properties to operate more efficiently and effectively while providing a superior customer experience. Info-Tech Research Group, through its research, is at the forefront of understanding these trends, asking thousands of members where they're investing in technology.
As the casino industry continues to evolve, it's clear that technology will play a crucial role. With experts like Larry Fretz leading the way, the future of casinos is exciting and full of potential.
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