Stockholm-listed European online gambling operator, Kindred Group Plc has partnered with the University of London and betting data analytics firm BetBuddy to explore the capabilities of Artificial Intelligence (AI).
Part of the firm’s ongoing research & development, Kindred detailed to the media that its partner AI tie-in was focused on exploring how ‘AI can help strengthen Anti-Money laundering decision processes’, a function that could save bookmakers millions in operational expenditure.
As an industry technology stakeholder Kindred has previously worked with the University of London’s Research Centre for Machine Learning at City. The bookmaker details that AI will likely bring the next paradigm shift for all industry verticals and processes.
Its current research project will see Kindred support and fund a Phd to explore the use of deep learning and AI techniques to strengthen Anti-Money Laundering (AML) decision processes.
“This project is yet another step in Kindred’s journey to find innovative ways of improving our business. The project ties in to the research already started within our Kindred Futures arm, looking at how AI can support detection of possible suspicious behaviours”, says George Debrincat , Money Laundering Reporting Officer at Kindred Group.
Professor Artur Garcez, Head of City’s Research Centre for Machine Learning, said, “ It is great to see our models and theory put to the test in a fulfilling collaboration that also drives new research that can improve peoples’
Simo Dragicevic, CEO of BetBuddy, said, “We are excited about partnering with Kindred, who are widely respected as innovators in all aspects of iGaming player protection. We are also pleased to be continuing our long-standing collaboration with Professor Garcez and his research team, who are respected globally as leaders in the fields of machine learning and extracting meaning and knowledge from AI”
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