Digital Transformation Creativity in Banking and the Casino Industry

Digital Transformation Creativity in Banking and the Casino Industry

Just about every type of industry has been disrupted by emerging technology since the start of the century. Some industries have been affected more than others in terms of the opportunities that this presents and how they react to it. What examples can we find of creative solutions that let businesses advance with their digital plans?

Online Casinos Have Introduced Numerous New Themes

Casinos have a history that began with the opening of the Ridotto in Venice in the 1630s. In the years that followed, we saw the introduction of many games like roulette and baccarat that we still play today. Slot machines came along after this but it wasn’t until the start of the 21st century that the opportunity for a brand-new approach to casino games arrived.

If you take a look at a list of current online slots and games, you’ll see how this industry has evolved alongside leaps in technology to create a vast range of versions of those classic games from the past – but with added features. From live dealer versions of roulette and baccarat to themed slots based on dragons, Vikings, and explorers, this is a clear example of how a strong online presence has allowed an existing industry to thrive and grow in new directions. New games are added regularly, so there are no signs of this digital transformation slowing down.

Digital Banking Is Now Easier and More Intuitive

Rather than simply letting us view our accounts online, banks have taken the opportunity to overhaul their services with the help of the latest technology. This means enhancing the customer experience by offering personalized and automated services using artificial intelligence and big data, for example.

The best digital-only banks like Chase and Monzo have gone a step further by completely removing physical branches from their model. This means that everything from opening the account to carrying out transactions and deciding how best to save each month is done digitally and in an intuitive way that anyone can quickly get to grips with.

Fashion Shows in the Metaverse and Virtual Changing Rooms

Fashion is one of the industries that we perhaps felt wasn’t going to be affected by digital transformation. However, we’ve now seen augmented reality used to help us choose new outfits and virtual reality to allow us to check out the latest collections more easily wherever we are.

Even more surprising is the way the fashion shows have moved into the metaverse. While this is a relatively new idea that is still developing, the concept of visiting a top fashion show in a virtual setting and interacting directly with the brands is exactly the kind of creative approach that’s needed in the modern business world.

Expect Even More Creativity in Many Industries

The pace of digital transformation across the planet means that it’s affecting just about every industry. While some of them have taken the simple option of just making a website that’s the digital equivalent of their physical premises, the biggest gains are likely to be felt in those cases where a creative approach is taken and new ways of reaching clients are explored.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.