As technological advances forge ahead more and more people all round the world are using online platforms in the course of their daily lives. This is something that the increased use of hybrid and remote working has further accelerated.
This has led to an increased digitalisation of the world at a rate that has never been seen before in its history. Consequently, it is helping people to lead their lives in previously unimaginable ways.
These online platforms are now where many of us carry out an increasing number of our daily interactions in all kinds of spheres, in education, at work and in our leisure time as well. We are also starting to rely on them increasingly as sources of news and forms of entertainment as well as ways to do everything from searching for new jobs to arranging travel and holidays.
A universal solution
The sheer diversity of these online platforms is staggering. For example, they can be used to buy and sell goods, to search for vital information across the internet and to create and maintain social networks. They’re also there for us to share content, to download the apps that make our smartphones such useful tools and to facilitate all kinds of communication free from national and international barriers.
As well as facilitating the transfer of all kinds of information across the internet, online platforms have another critical role that they fulfil. This is the way in which they enable digital trade on a global basis alongside increasing the choices for consumers and improving the efficiency of all interactions.
Online platforms are also proving to be major catalysts for innovation in the digital realm. The knock-on effect of this is that businesses that harness them effectively can experience greater levels of success than ever before.
Building blocks for profitability
This is as true for small businesses as it is for large corporations and has a knock-on effect that sees the economy as a whole enjoying huge benefits that would not otherwise be available.
While online platforms are, quite literally, the platforms for maximizing player profitability, it is the role of the technology that underpins many of them that brings it about.
No-one can have failed to notice that artificial intelligence is the big topic at the moment. Many fear it, with some justification it has to be said, while others are embracing it wholeheartedly.
But no-one can for a moment deny that it is a tool that is certain to increase profitability when it is strategically deployed on online platforms and as a tool for business development.
Let’s take the example of the online casino sector. Ever since it first emerged in the early 1990s it has embraced technology and innovation. So, over time, the games it has offered and the ways of playing them, have evolved. This has taken the form of everything from live casino experiences in which the action can be streamed in real time to a smartphone, PC or tablet at most major casinos found at BonusFinder.
Now the most forward-thinking of operators are starting to deploy AI in various different ways in order to maximize their revenue streams and, therefore, their profits.
One example of the way in which their doing this is using player data. Each time anyone places a bet or has any kind of interaction it can be recorded.
It is then used to analyse their playing styles and preferences. These can then dictate the sorts of offers and other communications to be made on an individual basis. Such precise targeting inevitably means that the player in question will be inclined to engage more, up the stakes and, therefore, generate more profits for the sportsbook or online casino.
Sports betting is the fastest-growing sector and it’s here that AI is also proving to be a boon. In-play betting, which allows players to bet on particular aspects of a game as it’s taking place, has been shown to generate especially strong engagement. The huge data handling capabilities of AI mean that a wider range of in-play bets than ever are possible – and the more betting options on offer, the more will be taken up by sports fans.
Naturally, it’s not just this particular sector that is harnessing the power of online platforms to drive profits and success – virtually all others are too.
The cloud and blockchain too
As well as using AI other advances like cloud computing and even the blockchain are being exploited. Despite the latter having primarily been created to underpin cryptocurrencies, increased uses for this particular technology are now being investigated and deployed leading to increased profitability for a wide range of organizations.
So, as technology continues on its inexorable march we can expect to see online platforms increasing their power, influence and profit-generating abilities. And that’s got to be great news for every sector imaginable.
Cover Image by macrovector on Freepik
