Compete.gg reveals artificial intelligence roadmap and 2023 growth initiatives
- React Gaming’s esports tournament subsidiary to target new markets and mobile applications to fuel long-term growth
- Growth initiatives to include new artificial intelligence (AI) and machine learning (ML) capabilities aimed at increasing future revenue
MONTREAL, Feb. 06, 2023 (GLOBE NEWSWIRE) — React Gaming Group Inc. (“React Gaming” or the “Corporation”) (TSXV: RGG, OTCQB: ITMZF) is pleased to announce Compete.gg’s growth strategy for 2023 and beyond.
“Since rebranding our Compete.gg platform last Spring, we have increased the number of game titles and enhanced the platform functionalities, allowing us to more than double the number of users,” said Leigh Hughes, CEO of React Gaming. “In 2023, we will be even more active as we integrate new AI capabilities to the platform, offering best-in-class experience to improve fan engagement. We will also target esports markets that have shown rapid growth in the last few years, namely Latin America, Southeast Asia and the Middle East, where we already have started to build strong connections with new fan bases.”
One key aspect of AI/ML tech is that it can drive revenue for Compete.gg via predictive analytics. By analyzing user data and behaviour, the platform can provide insights and recommendations to users about tournaments, players, and other features that are most relevant to their interests. This not only creates a more enjoyable experience for users but also increases the likelihood that they will participate in more tournaments and engage more deeply with Compete’s platform.
Another way that AI/ML can drive revenue for Compete is through targeted advertising. By using machine learning algorithms to understand user behaviour and interests, the platform can serve more relevant and effective advertisements to users, leading to increased click-through and higher conversion rates. It also allows the platform to better pair advertisers with the right tournament organizers and brands.
Additionally, and probably most importantly, by leveraging AI and ML, Compete can optimize its tournament creation and management processes, making it easier and more efficient for tournament organizers to run tournaments and manage their communities. This can help reduce administrative overhead and increase the number of tournaments offered on our platform, further increasing user engagement and driving revenue.
When looking at the long-term picture for Compete, mobile is the future. With over 3.2 billion gamers world-wide (source: Statista) and 61% of US adult gamers playing on their mobile phones (source: Entertainment Software Association), mobile is the next logical step. The integration of AI and ML into a Compete mobile offering can significantly increase the company’s revenue in the next two years by providing users with a more personalized and engaging experience, increasing the effectiveness of targeted advertising, and streamlining tournament management processes, all via the one device everyone has in their pocket, a smartphone. The good news is that Compete’s platform is built to be adaptable to mobile functionalities, but it will take some time to become fully operational.
“For the time being, we will prioritize short-term revenue generation, through AI and expanding our fan base into new markets, and work on mobile as a longer-term growth initiative,” concluded Mr. Hughes.
About React Gaming Group
React Gaming Group (TSXV: RGG) (OTCQB: ITMZF) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams, and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes, and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.
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REACT GAMING GROUP INC.
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