Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Fintech Market: Global Analysis and Growth Forecast to 2027” report has been added ResearchAndMarkets.com’s Offering.
The use of AI systems and techniques in finance is growing rapidly, enabled by the abundance of available data and the increased affordable computing capacity. AI is increasingly being deployed by financial service providers across the financial services industry in sectors such as retail and corporate banking, fraud monitoring and detection, natural language processing (NLP), customer service, asset management, trading and insurance. AI is also being deployed in supervisory technology (Suptech) and regulatory technology (Regtech) applications by financial authorities and public companies.
Deploying AI techniques in finance can create efficiencies by minimizing commissions and fees associated with transaction execution and by improving productivity levels, leading to higher profitability. Furthermore, the use of automation and technology-enabled cost reduction allows for cost efficiency, capacity reallocation and improved transparency in decision-making. Applications of AI in financial services accelerate the quality of services and products offered to financial customers, increase the personalization of products and diversify product offerings. AI helps businesses unlock the potential data insights needed to identify investment strategies and improve financial inclusion by allowing organizations to analyze the creditworthiness of customers with minimal credit histories.
Increasing digitization in the banking, finance and insurance (BFSI) industry is one of the essential aspects driving market growth worldwide. AI in fintech is widely used to drive virtual assistance, sentiment and predictive analysis, debt collection, reporting and customer behavior analysis. It helps increase efficiency, reduces the chances of human error and processes large amounts of data in a short time. In addition, AI also helps with automated and real-time examination of cash, investment and credit accounts to evaluate individual financial health and develop customized insights for future development.
In addition, technological advances such as combining financial technology solutions with ML, big data, evolutionary algorithms and neural networks will also contribute to market growth. These technologies offer improved monitoring of financial transactions, speech recognition, risk management and secured network access to financial institutions and banks.
- A comprehensive overview and up-to-date analysis of current and future global markets for artificial intelligence (AI) in the financial industry
- Analysis of the global market trends, with market revenue data for 2021, estimates for 2022, 2023 and 2025, and projections of compound annual growth rates (CAGRs) through 2027
- Global market outlook and estimation of the actual market size for AI in Fintech, revenue forecast and corresponding market share analysis based on component, distribution, application and region
- Assessment of the most important growth drivers and restraints that will shape the market for artificial intelligence in financial services, as a basis for forecasting demand over the next five years (2022-2027)
- Identification of the companies best positioned to meet this demand due to or in connection with their proprietary technologies, product launches, M&A deals and other market strategic advantages
- Coverage of the technological, economic and business assessments of AI in the Fintech market, with analysis and growth forecasts through 2027
- Analysis of the supplier landscape and the global company share analysis of the companies based on their segment revenues
- Securing customer accounts against cyber attacks and bank fraud
- Increasing digitization of the BFSI industry
- Demand for RPA in financial institutions
- Data confidentiality and privacy considerations
- Need for skilled workforce to implement Ai in Fintech
- Increasing competition in the financial sector
- Increasing mobile workforce
- Increasing use of AI-enabled solutions in the capital market
Key topics covered:
chapter 1 Introduction
Chapter 2 Summary and highlights
Chapter 3 Industry Outlook
Chapter 4 Market dynamics
Chapter 5 Market distribution by component
Chapter 6 Market distribution by distribution
Chapter 7 Market Distribution by Application
Chapter 8 Market distribution by region
Chapter 9 Competitive landscape
Chapter 10 Company Profiles
- Confirm Inc.
- Alphabet Inc.
- Amelia US LLC
- Comply advantage
- Data min
- IBM Corp.
- Intel Corp.
- Microsoft Corp.
- Nuance Communications Inc.
- Salesforce.Com Inc.
- Tibco Software Inc.
- Upstart Network Inc.
- Verint Systems Inc.
- Wealthfront Corp.
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Global artificial intelligence in the Fintech market