Monday, November 30

The Power Of Blockchain And Ai Technology For Sports Industry

The latest technologies around the world have brought about some major changes in our lives. The revolution in digital technology has led to the introduction of many new innovations such as virtual reality, connected devices, and even data analytics. At the heart of this technological revolution are Blockchain and Artificial Intelligence. Their huge potential has led to them being used in many different industries like security, supply chain, travel, automobiles, healthcare, and more. Even though not many people understand this, but even the sports industry is not far behind. It has been redesigning its infrastructure and also implemented new technologies as per the trend. It is among the most valuable industries in the world and is expected to reach a total value of more than $600 by the year 2020. Ai and Blockchain are both being embedded in sports in many different ways and can help improve the entire sports industry and sports itself. 

Blockchain and AI in Fans Engagement

Irrespective of the sports, fans form the most important asset for any team or player. More strategies are being implemented to increase fan’s engagement and even playing an important role in important decisions in the sports industry. Take the example of some of the top soccer clubs such as AS Roma, Paris Saint-Germain, Atletico Madrid, and many others that have formed a partnership with the Socios.com platform. The fans of these clubs can purchase tokens that give them the power to select the club’s jersey, charity selections, and others. Many sports online stores are also accepting payments in cryptocurrency for tickets.

 Blockchain and AI Helps Prevent Injury

 AI today is being used to monitor and capture every single detail of the players. There are multiple sensors and technology to analyze the players’ and teams’ data to provide insight into the player’s performances to help improve them. These data are also used to predict many scenarios even before the match actually takes place. Another important use of technology is the prevention of injury. Injuries in sports can be a huge issue for the players and the teams. If a player gets injured, there are insurance companies and lawyers that get involved, and all this can be quite expensive. 

AI and Blockchain for Advancement in eSports

eSports is the future of sports, and the global audience has everything within reach of their hands. There has been a booming relationship between the blockchain and AI technology and the eSports. There has been a huge investment of crypto assets into eSports, and there is no way it is going to stop any time soon. Gamers are more open to accepting new technology, and it is pushing the demand for cryptocurrency. 

The sports industry is growing at a fast rate. There is more competition and teams have much better players than ever before. Using the right technology and tools, it is possible to enhance the entire ecosystem. In all, these AI and Blockchain have a very important role to play. It is why many AI and blockchain companies enter the sports industry and create their presence in all major areas of their framework. Since these technologies are still new, they pose a number of questions, risks, and uncertainties. Besides, many areas of the sports industry are still untouched by technology, and there are many opportunities to be explored here. It would be interesting to see the many developments and trends that would enter the sports industry in the future.