The odds of picking the winning Mega Millions lottery numbers are about one in 300 million. Donald Ylvisaker, UCLA Professor Emeritus of Statistics and California lottery statistician, was asked if he thought AI could help pick winning lottery numbers.
"I am confident the answer is no, no such machine exists,” he said. "[The lottery] relies on a random number generator. Random number generators have improved immensely since the old days. Old ones used old-fashioned algorithms. Nowadays, they are very, very sophisticated."
One hurdle to using AI to predict lottery numbers is the amount of data that would have to be analyzed. Multiple random number generating machines are used to select the final numbers as well, so even if a pattern in one machine was identified, the pattern may be different in another machine, even if that machine is mechanically identical. There would be trillions of possible combinations to analyze.
"There's the sequences of tickets, sequences of combinations, and pretty soon that multiples up into a ton of possibilities," Ylvisaker said. "I don't think there's any way anyone is going to come close to that. You just can't generate enough data." AI and machine learning use the collection of data to predict results but since the lottery runs on unpredictability, AI is unlikely to crack the code.
How does AI impact other forms of online gambling? The development of gambling as an industry for the general public was largely fueled by probability and statistics theories. Before any other consumer-facing industry, casinos were among the first to implement advanced algorithms and AI. They were utilizing AI and the enormous amounts of client data they already had to build and maintain better relationships and increase market share. Casinos are already utilizing AI in a number of areas, such as marketing, automation, fraud detection and predictive maintenance.
Online betting companies must use the amount of data on their clients to stay ahead of the curve. This data includes everything from how and when users access the online platform to the interactions they love and the referral programs they participate in most.
Artificial intelligence has the potential to transform the manufacturing industry as well. The potential advantages include increased productivity, less expenses, higher quality, and less downtime. Not just big manufacturers can use this technology. More readily available than many smaller manufacturers realize are high-value, cost-efficient AI solutions.
The terms artificial intelligence and machine learning are sometimes used synonymously, however they refer to two distinct concepts. Machine learning combines data from several sources and enables you to comprehend how, why, and which data interacts with other data. By using historical data to show you the odds between several choices and which one obviously worked better in the past, it assists you in solving a specific problem. It explains the significance of everything, the chances that specific outcomes will occur, and their likelihood in the future.
AI is what acts upon a suggestion made by machine learning. Using a hot stove as an example, when you put your hand near a hot burner, your brain informs you what can happen and what you should do based on previous experience and the tingling in your fingers. Similar to machine learning, that. AI is the capacity of technology to pull back your hand before getting burned.
Are you gambling with your business by not utilizing AI? Contact us today to learn more about the best AI and machine learning tools available in manufacturing.