AI Tech Stocks and the Growing Implementation in the Sports Market
Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - July 21, 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).
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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 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, 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, 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.
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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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