CEO bets $1M on AI for March Madness predictions

A CEO is betting $1 million that artificial intelligence can create a better March Madness bracket than a professional sports gambler. Alan Levy leads the challenge with his company, 4C Predictions, aiming to show that data-driven predictions can outperform human intuition. Levy believes AI technology will become increasingly accurate in its predictions. He notes that this challenge comes at a time when legalized sports betting has spread across many states, making bracket contests more popular and lucrative. The professional gambler in the challenge, Sean Perry, has had a successful career using data and analytics in betting. Levy wants to empower regular bettors, giving them access to the same kind of information that typically benefits the casinos. However, experts caution that despite the rise of AI, basketball is unpredictable. Factors like upsets and bad calls can affect outcomes. Levy stresses that no matter how advanced technology gets, the human element will still play a crucial role in sports. The CEO compares AI's role in sports forecasting to the analytics revolution in baseball. He believes AI should enhance human capabilities rather than replace them. For this tournament, the AI predicts that the University of Houston will win, while Perry is putting his money on Duke.