In recent years, the use of artificial intelligence (AI) applications and predictive analytics has gained attention from the press for a wide range of reasons. We remain justifiably obsessed with the potential uses of this sophisticated and accurate technology across various industries. Much of the scrutiny from the press is devoted to speculating how predictive AI will go on to be used for transport, security, marketing, and logistics across industries.
Unbeknownst to many, predictive AI is already used widely across all facets of the entertainment industry, helping to create better products and engage audiences like never before. However, comparatively little attention is lavished on the actual applications of predictive AI in the entertainment sector. Here are some illuminating real-life uses of predictive analytics in entertainment.
Targeted Advertising
One of the most wide-ranging and lucrative applications of predictive analytics in media right now concerns advertising. Some of Silicon Valley’s top players include companies such as LeadSpace and HubSpot, which have made billions by honing their predictive analytics tools to provide hyper-targeted advertisements to customers worldwide. By using vast troves of data provided by cookies, algorithms can now send precision-targeted ads relevant to the people who see them.
Predictive Sports Odds
Another area where predictive analytics is changing the game is sports betting. Conventionally, bookmakers and fans would independently research factors that could dictate a race or match outcome and then form odds based on this data. However, technology platforms have stepped in to provide this data in a far more comprehensive manner.
One prime example of AI that’s already widely accessible to customers and utilized in the UK/Ireland is Beth.bet. This predictive tool offers objective analyses for horse racing odds. This platform provides sports betting services to punters, crunching thousands of data filters in real-time and compiling tailored advice from industry-specific experts to provide detailed odds on horses and upcoming races.
Advanced Scouting
Another way in which predictive analytics is being used in the realm of sport concerns sports scouting. Especially in the past year, where remote scouting has become the norm, talent scouts are using advanced data analytics to gain a detailed profile of potential recruits. They can use a range of tools to analyze video footage of athletes to understand their skillset, while vast numbers of data points from their career can be used to provide the kinds of insights that scouts will never be able to notice with their naked eye alone.
Content Personalisation
Finally, predictive analytics are also improving the entertainment sector through content personalization. These are being used to make existing content platforms better and more user-friendly. This can be done by analyzing user data to determine the kind of content they want to see and what they’re most likely to engage with. The most prominent examples here are streaming giants such as Netflix and Prime Video, which use tightly-guarded predictive analytics tools to personalize the homepage of their product for their millions of users around the world.
These are some of the top use cases for predictive analytics in the entertainment industry today. As media workers, managers, and audiences continue to rely on and benefit from predictive analytics applications. It’s more than likely that we’ll be seeing a lot more of this technology across industries in the years to come.