5 New AI Solutions – That Can Generate Revenue Now!

Let’s get real for a moment. I often hear sports leaders saying, “Forget about future profits, what can AI do for us right now?” -And you know what? They’ve got a point.

We all know that AI is a game-changer. They say it’s as revolutionary as electricity or the internet, but what sports properties are really after are immediate wins. They’re looking for quick, impactful solutions that not only improve their bottom line but also unite and enroll their teams and organization around the exciting new possibilities AI is bringing. 

In the past few months, as we geared up to create the 1st AI in sports leadership program, I’ve been working closely with AI and SportsTech experts. Our first step? We identified the main areas in sports where AI could make a difference. 

Then, we dived into finding real, actionable solutions that are already delivering solid returns on investment and have great case studies to back them up.

In this blog post, I want to give you a taste of what’s possible with AI. You’ll see how it can open up new revenue streams, and the best part? 

1. Personalized Content Monetization: Every Fan has a Personalized Sales Rep 

Picture this, sports teams offering each fan a tailor-made News video, created by AI. 

“Hey Danny, we are looking forward to seeing you In the west stand today. The shirt you bought two years ago for your son is probably too small by now… we have a special offer for you waiting at the fan store”

It feels like your team knows you personally, offering news, merch and tickets that seem handpicked for you. This is no fantasy – it’s a game-changer in fan satisfaction and a gold mine in new revenue streams. We have tested a few AI platforms that can create up to 1M customized videos before any given game.

Also, envision your team’s captain –  as an AI personal customer service AI avatar, guiding fans in a customized communication from buying tickets to choosing merchandise. It’s like having a personal assistant who knows exactly what you want, turning every interaction into a special experience and even potential sales. 

Another interesting side of understanding your customer’s needs for AI is what we call the AI Horse Whisperer, an initiative that goes beyond interaction to truly understand fans’ desires and spending habits. These AI bots are not just assistants; they’re key to unlocking deeper engagement, reaching new audiences, and driving significant revenue.

2. Customize Advertising:  “Please. Don’t sell me Food I don’t like or cars I will never buy”  

We talked about personalized advertising for years, but nowadays with AI this can finally work. It’s about putting the right ad in front of the right fan at the perfect moment. While more and more of the streaming content and rights are being bought by digital platforms such as Apple, Netflix, Amazon, among others. The current sentiment is very clear- No more irrelevant ads; it’s precision marketing that maximizes every dollar spent.  

Amazon Prime example: it explains quite nicely the potential of AI here. Where? On Thursday night’s match day, on the break of the NFL game, I would get an ad for a guitar I was looking at that morning and my son would see a new gaming console offer. 

3. Fans as Co-Creators: The New Way to Engage with the Modern Fan  

Now with personalization, as we understand our fans better, especially the tech-enthused Gen Z and the digitally native Alpha generation, we can build more meaningful relationships. These younger fans, who are adept in digital innovation and social media trends, play a pivotal role in our co-creation strategies, benefiting both the club and the community while opening avenues for new revenue generation. Let the fans, particularly our younger audience, craft their own game highlights, create customized AI videos and pictures, or even initiate new web3.0 and blockchain projects promoting meaningful causes. Moreover, we can engage them through platforms tailored to their interests, such as interactive gaming, creative content creation, and predicting game outcomes. This approach does more than just engage; it opens the door to new partnerships and revenue streams, tapping into the unique preferences and digital fluency of Gen Z and Alpha communities like never before.

Take, for instance, the annual launch of a team’s jersey. This event always generates significant excitement among fans, who eagerly anticipate the new design. They speculate about everything from the color scheme to the fabric type. By tapping into this fan fervor beforehand, teams can gather valuable insights. This approach allows them to design a jersey that not only resonates with fans but also boosts its market appeal, making it more desirable and increasing sales potential.

4. Dynamic Ticketing and Attendance: A New Paradigm

Although the controversial reputation of this new paradigm with blockchain technology to support it will present benefits for both, fans and stakeholders alike. 

Adjusting ticket prices in real-time based on numerous factors? That’s AI for you. It’s about filling seats, maximizing sales, and catering to a broader fan base with dynamic, demand-driven pricing.

Through the analysis of various factors such as demand, historical sales data, real-time market conditions, AI can equip sports properties to implement dynamic pricing strategies that maximize revenue while offering fair ticket prices to customers. Whereas clubs and Teams can more accurately set prices based on demand, possibly leading to more revenue, fans can potentially save money by purchasing tickets at lower prices when demand is lower. Also consider scenarios where tickets that don’t sell out easily, for instance, in games. In such cases, with the help of AI-driven technologies, organizers can sell more tickets to both local and fans from further away, boosting occupancy rates. Besides, dynamic pricing makes scalping less profitable, discouraging unofficial resellers from exploiting the system.

5.  In-Stadium Consumer Behavior Prediction: The Real Time Experience

AI is revolutionizing stadium experiences, from concession stands that adapt their offerings in real-time to AI-driven halftime shows. It’s about understanding and catering to fans’ desires in real-time, transforming the stadium into a hub of excitement and profit. 

Leicester City Football Club was the first Premier League football club to implement an autonomous store serving draft beer for sports fans. Pretty cool, right? Since launching the cashierless checkout store with AiFi, King Power Stadium has:

• Reduced transaction time from 70 seconds to 18 seconds
• Increased repeat shoppers by 30-50% during the game
• Reduced labor by 60%

AI Powered Profit – Invitation to join the journey

In conclusion, AI in sports isn’t a sideshow; it’s the main event and as we can see from the above solutions, it can impact your bottom line today. 

If you would like to take part in this journey, I will share a link below. The first AI in sports leadership program we launched was completely sold out, but we are now looking to open a new program. 

Make sure you sign up to the pre-registration list. 

In conclusion, AI in sports isn’t a sideshow; it’s the main event and as we can see from the above solutions, it can impact your bottom line today.

If you would like to take part in this journey, we are opening the 2nd round of an exclusive AI in Sports Workshop where you could kill a few birds in one shot, the game plan is:

• Practical sessions delivered by the World Class Speakers (Real Madrid CTO, Cisco, Microsoft etc.)
• Real AI case Studies already proven (can help generate NEW revenue, reduce costs)
• By the end of the Workshop, you will own your own AI strategy Roadmap for 2024.

If you want to know more, make sure you sign up to the pre-registration list.

With Love for Sports and Innovation
AR