Financial industry stays ahead in the adoption of new technologies. Big banks such as JP Morgan are the early adopters of disruptive technologies like blockchain and cryptocurrencies. Artificial Intelligence (AI) is a paradigm-shifting technology that is seamlessly changing the financial sector. Various application of AI in Fintech sector are accurate decision making, automated customer support, claim management, insurance management, fraud detection, virtual financial assistance, predictive analysis, and others. For customers, banks and other financial institution offers real-time access to accounts, personalized financial recommendations, manage savings, making micro-investments, expense tracking, budgeting, and others. The key benefit of AI in Fintech is that it improves the financial services experience. AI in Fintech meets the demands of customers on a real-time basis.
The changing business model in the financial sector and continuous adoption of advanced technology such as artificial intelligence, predictive analytics, the blockchain, and others are significantly driving the AI in Fintech market. The increasing adoption of smartphones is expected to drive the AI in Fintech market significantly during the forecast period. The availability of spatial data and increasing penetration of the internet are among the key drivers for global AI in Fintech market.
The reports cover key developments in the AI In FinTech market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from AI In FinTech market are anticipated to lucrative growth opportunities in the future with the rising demand for AI In FinTech market in the global market.
Key Players Influencing the Market
The report titled “AI In FinTech Market -Forecast to 2027″ is a direct appreciation by The Insight Partners of the market potential of the AI In FinTech Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
The global AI in Fintech market is segmented on the basis of component, application, and deployment. Based on component, the market is segmented as software, platform, and services. On the basis of application the market is segmented as virtual assistant, business analytics and reporting, customer behavioral analytics, fraud detection, and others. The market on the basis of deployment is classified as on-premise and cloud based.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global AI In FinTech market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The AI In FinTech market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the AI In FinTech market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AI In FinTech market in these regions.
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