The Future of GenAI in Sports
Technology has always played a crucial role in professional sports, from instant replay to wearable tech. Now, Artificial Intelligence (AI) is set to revolutionize the industry.
Generative AI's (GenAI) transformative potential in sports is driven by three converging factors: the explosion of data from smart devices, advancements in computing power, and the expertise to turn data into actionable insights. This convergence has created a GenAI moment, expected to have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5% of global GDP in 2030, transforming professional sports data from a costly liability to a valuable asset.
Additionally, sports organizations are becoming pivotal in the network of stakeholders. They manage critical aspects like amenities, attendance convenience, infrastructure, and supplementary activities, which are ideal for GenAI enhancements. GenAI enables these organizations to be more innovative, personalized, and purposeful, while also minimizing routine tasks, benefiting both leadership and on-field operations.
However, GenAI has the potential to revolutionize the core pillars of value creation in sports, but achieving significant benefits demands a strategic and thoughtful approach. Sports organizations can unlock numerous opportunities with this technology, but success hinges on managing risks within a trustworthy framework and keeping pace with rapid technological advancements.
Our latest report examines the roots of today’s AI revolution; explores how leagues, teams, and governing bodies can get the biggest bang for their AI buck; and shares practical steps to take on the AI journey.
