AI in Sports is Likely to be Very Lucrative Market in Upcoming Years
PUNE, India, March 18, 2019 /PRNewswire/ --
Summary: AI in sports is likely to be very lucrative market in upcoming years owing to increasing asset value of major teams and substantial opportunity for operational improvements including efficiency and effectiveness enhancements.
Improving the overall efficiency and effectiveness of teams and individual athletes a big implications as sports related activities and events have become a major industry in the last few decades. Professional sports in particular has become a big business with the asset value of major teams at well over $1 billion each and generating triple digit millions in revenue annually. For example, the New England Patriots (American) football team is valued at roughly $3.8 billion, and generates over $500 million in total revenue annually. With about $103 million in revenue due to gate receipts, it is clear that a large portion of professional sports teams rely on non-venue related revenue including sponsorship, media rights, and merchandising. With level of financials involved for a given organization, AI in sports market is a meaningful investment for most team owners.
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Sports at the Olympic, professional, and collegiate levels has become very data driven as decisions ranging from recruitment and training to strategy and in-game tactics rely upon statistics and a dynamic set of variables including personnel, game conditions, and scenarios. Would be Olympians depend on sponsors, trainers, and coaches for major funding and support. Sponsorship is a multi-million investment for each athlete, underscoring the need to make the best decisions possible for sovereign nations and companies involved in deciding who will be developed with the intent of representing a country in a given sport and sporting event for the Olympics. Wise implementation of AI in sports market represents a means of sponsoring countries, companies, and wealthy benefactors to maximize their investment in the best world athletes.
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At the collegiate level, a great deal is at stake in terms of recruiting athletes to become professionals. There is also great importance for National Collegiate Athletic Association division IA teams who vie for various milestones such as winning seasons, division leadership, league championships, playoff appearances, and championships. Much is at stake from an alumni good will perspective, which translates into donations for sporting programs, which funds university and college development. AI in sports market at the collegiate level provides this type of indirect benefit as college sports programs must be careful to not step over the line in terms of rules regarding financial benefits to players.
Some of the key players evaluated during the study includes; 24/7.ai Inc., Active.Ai, Advanced Micro Devices (AMD) Inc., AIBrian Inc., Amazon Inc., Anodot, AOL Inc., Apple Inc, ARM Limited, Atmel Corporation, Baidu Inc., Cisco Systems, DeepScale, Digital Reasoning Systems Inc., Directly, Facebook Inc., Fujitsu Ltd., Gamaya, Gemalto N.V., General Electric (GE), General Vision Inc., Google Inc., Graphcore, H2O.ai, Haier Group Corporation, Haptik, Hewlett Packard Enterprise (HPE), Huawei Technologies Co. Ltd., IBM Corporation, Imagen Technologies, Inbenta Technologies Inc., Intel Corporation, InteliWISE, IPsoft Inc., iRobot Corp., Juniper Networks, Inc., Koninklijke Philips N.V, Kreditech, KUKA AG, Leap Motion Inc., LG Electronics, Lockheed Martin, MAANA, Micron Technology, Microsoft Corporation, MicroStrategy Incorporated, Miele, Motion Controls Robotics Inc., motion.ai, Neurala, NewtonX, Next IT Corporation, Nokia Corporation, Nuance Communications Inc., OccamzRazor, Omron Adept Technology, Onfido, Oracle Corporation, Panasonic Corporation, Petuum, PointGrab Ltd., QlikTech International AB, Qualcomm Incorporated, Rethink Robotics, Rockwell Automation Inc., Salesforce, Samsung Electronics Co Ltd., SAP, SAS Institute Inc., Sentient Technologies Holdings Limited, Siemens AG, Signal Media, SoftBank Robotics Holding Corp., SparkCognition Inc., Spatial, Specif.io, Tellmeplus, Tend.ai, Tesla Inc., Texas Instruments Inc., Textio, Umbo Computer Vision, Veros Systems Inc., vPhrase, Wade & Wendy, Wind River Systems Inc., Woobo.io, Xiaomi Technology Co. Ltd., XILINX Inc. and Yanu
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Key Findings:
- AI improves the value of cross-training by team role/position between 9 and 32 percent
- Up to 65% of long-term cognitive dysfunction due to concussions is preventable through use of AI
- AI in sports will improve individual and team performance by average of 17% and 28% respectively
- Top benefits of AI in sports include performance improvement, injury prevention, and recruitment
- AI will improve revenue, reduce operational costs, and improve valuations of professional sports teams
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