AI in the Fintech Industry – Know the prominent factors that will help reshape market growth
PRESS RELEASE
Published March 28, 2023
New York, Global AI in Fintech Market report from Global Insight Services is the only authoritative source of intelligence on AI in Fintech Market. The report will provide you with an analysis of the impact of recent market disruptions such as the Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. The report includes in-depth segmentation and market size data by categories, product types, applications and geography. The report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
AI in fintech can be used in a number of different ways. For example, AI can be used to develop new financial products or services, or to improve the efficiency of existing ones. AI can also be used to detect and prevent financial crime, or to improve customer service and support. In general, AI can be used to help make the financial sector more efficient, effective and secure.
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Key trends
There are four key trends in AI in fintech technology:
1. The use of artificial intelligence (AI) in financial services is increasing. Banks and other financial institutions use AI-based chatbots to interact with customers and provide them with financial advice. AI is also used to detect and prevent fraud.
2. AI is used to customize financial products and services. Banks use artificial intelligence to offer tailored products and services to their customers. For example, AI is used to provide personalized credit scores and investment recommendations.
3. AI is used to automate financial processes. For example, AI is being used to automate the loan application process. This helps speed up the process and make it more efficient.
4. AI is used to improve financial decisions. AI-based systems are used to help financial institutions make better decisions about things like loan approvals and investment strategies.
Key drivers
Fintech is a rapidly growing industry with a wide range of artificial intelligence (AI) applications. AI can be used for a variety of tasks in fintech, including fraud detection, customer service and investment analysis.
The key drivers for AI in the fintech market are the need for speed and accuracy, the growing volume of data and the need for personalized services.
Speed and accuracy are essential in the financial world. AI can help fintech companies process large amounts of data quickly and accurately. This is particularly important in areas such as fraud detection, where AI can help identify patterns of fraudulent activity.
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Key players
AI in the Fintech Market includes players such as Microsoft, Google LLC, Salesforce Inc., IBM Corporation, Amelia US LLC, Nuance Communications Inc., Complyadvantage, Narrative Science, Affirm Inc. and Intel.
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