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AI Tech Stocks and the Growing Implementation in the Sports Market
Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - July 21, 2022) - Investoride...
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[{"type":"text","content":"AI Tech Stocks and the Growing Implementation in the Sports MarketVancouver, 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).Read the full article at Investorideas.com 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 r...