Adopting new technology_Gambling Insider_Jan Feb 2019
WHERE WE STAND ON TECHNOLOGY TODAY
Technology is everywhere today; it has become an integral part of our lives and many of its applications are taken for granted. A quantitative online study conducted by Focus Bari S.A., shows that new technologies are fun and exciting for 65% of global consumers; highly involved, tech-loving audiences are even more highly attracted by the fun involved, reaching an impressive 90%. At the same time, technological advancements offer more opportunities than risks for 59%.
Evolution is unstoppable and new technologies emerge all the time. The way and intensity in which these technologies shall be adopted highly depends on distinct consumer needs and habits. The more the expansion and progress of technology applications, the more challenging it is for companies to reach consumers with the right tool for them. Therefore, it is quite important to define the technologies and types of innovation that will shape our present and near future.
ALL THAT IS NEW IS INTERESTING, AFTER ALL?
In practice, when it comes to real-life endorsement of advanced, innovative technology, there is always a gap to transcend and a “maturity time” to endure; thus, according to the study, even though open to new technologies, 61% of global consumers will wait until an innovative product has proven itself, while only 30% define themselves as early purchasers of new product innovation.
What drives consumers into action? How can an innovative product minimize the trial period and enter their everyday lives at an early stage? The answer is simple: innovative technologies are embraced when practical needs are met in meaningful ways. In our complex, technology-dominated present, innovation is useful when it has important impact on how everyday life is organized and led, bridging the digital with the physical worlds in a seamless manner.
HOW DO PLAYERS OF GAMES OF CHANCE REACT TO INNOVATION?
Global players of games of chance tend to be much more open to anything new. Their majority (75%) expect manufacturers to frequently update their product, while 39% describe themselves as early adopters of product innovation.
Openness to gaming goes together with technology familiarity & openness to technology innovation; players of games of chance easily endorse innovative, even disruptive technologies and are by far more advanced technology users than non-players.
HOW CAN THE GAMING MARKET CREATE ADDED VALUE THROUGH TECHNOLOGY?
From the operators’ perspective, technological advancement and innovation are deep in the DNA of gaming. Innovation comes in various forms & sizes: new digitally-born products, new channels (digital and retail), cross-channel interactions & new partners.As a result, gaming vendors tend to adopt a more critical stance towards established tools and more easily promote advanced technology solutions; in its turn, this has an impact on the front-end retailers, who by 53% have endorsed advanced applications.
What is more important than mere incorporationof innovation in operations though, is that gaming vendors link technology to actual customer experience; Thus, when they need to choose, they take traditional criteria such as proven quality, ease of use and price for granted; their top-3 criteria include customers’ approval by 55%, design and aesthetics by 45% and advanced technological features by 38%, all much higher compared to providers that do not supply gaming products.
Lotteries need to adopt all these and deliver to players as rich experiences without neglecting the cornerstone requirements of integrity & security, fiscal accountability, and thus move away from the liner business model and adopt the platform biz model. Players and operators in the gaming market, are equally seeking for technology innovations to define the new gaming era, the challenge of a seamless and “better-than-real-life” experience being at the core of their expectations. All these are enabled by modern IT architectures, open APIs and leveraging big data so to take centerstage in the new Lottery ecosystem.