Sportstech is a sector that has made much traction from 2020-2023 (currently). As the various subsectors such as sports betting, sports performance, fan enablement, and venue management. Within these sectors, we have seen the integration of many technologies. For example, as sports betting is becoming legalized in the United States there is more use of in-app digital asset creation such as NFTs. The concept of making digital assets is Minting as a Service (MaaS) and the application of these digital assets is called Utility as a Service (UaaS). While this is just the tip of the iceberg, I was providing a use case for the many varieties of technological integration within sports-tech.
One of the largest emerging spaces across the world is Artificial Intelligence (AI) and we have all heard of the likes of Chat GPT and Apprentice Bard. However, within sports-tech AI applications will be applied to a variety of purposes such as brand content creation and operations. For example, a sports team may be inclined to use/sponsor AI platforms to generate personalized highlight reels and newsletters. By design, AI can analyze large data sets and provide companies with better data to drive informed decisions.
Operationally, Artificial Intelligence can optimize the operational side of sports, especially on a grand scale. AI can optimize many processes such as ticketing, scouting, merchandising, and player development. For example, an additional use case is a sports team or league using AI to analyze player data to translate to fantasy sports in real-time. In conclusion, with new AI applications weekly there will be new integration capabilities in sports-tech as well.