HomeTechnologyArtificial intelligenceBenefits Including Higher Profitability and Spending Effectiveness Fuels Adoption

Benefits Including Higher Profitability and Spending Effectiveness Fuels Adoption

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Global Artificial Intelligence in Fintech Market

Global Artificial Intelligence in Fintech Market

Global Artificial Intelligence in Fintech Market

Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Fintech Market: Global Analysis and Growth Forecast to 2027” report added ResearchAndMarkets.coms offer.

The adoption of AI systems and techniques in the financial world is rapidly increasing, enabled by the abundance of data available and the increased affordability of computing power. AI is increasingly being deployed by financial service providers in the financial industry in industries 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 sector companies.

The deployment of AI techniques in finance can bring efficiencies by minimizing commissions and fees associated with trade execution and improving productivity levels leading to higher profitability. In addition, the use of automation and technology-assisted cost reduction ensures efficiency of spending, reallocation of capacity and improved transparency in decision-making. Applications of AI in financial services accelerate the quality of services and products offered to financial customers, increase product personalization and diversify product offerings. AI helps companies unlock the potential data insights needed to identify investment strategies and improve financial inclusions by enabling organizations to analyze customer creditworthiness with minimal credit history.

Increasing digitization in the banking, financial services and insurance (BFSI) industry is one of the vital aspects of the growth of the market across the globe. AI in fintech is widely used to perform virtual assistance, sentiment and predictive analysis, collections, reporting and customer behavior analysis. It helps increase efficiency, reduces the chance of human error and processes large amounts of data in a short time. In addition, AI also assists in the automated and real-time examination of cash, investment and credit accounts for evaluating individual financial health and developing tailored insights for future development.

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In addition, technological developments such as combining financial technology solutions with ML, big data, evolutionary algorithms and neural networks will also promote market growth. These technologies provide enhanced supervision of financial transactions, speech recognition, risk management, and secure network access to financial institutions and banks.

Report includes

  • A comprehensive overview and up-to-date analysis of the current and future global markets for artificial intelligence (AI) in financial services

  • Analysis of global market trends, with market revenue data for 2021, estimates for 2022, 2023 and 2025, and compound annual growth rate (CAGR) projections through 2027

  • Global market outlook and actual market size estimation for AI in Fintech, revenue forecast and corresponding market share analysis based on component, implementation, application and region

  • Assessment of key growth drivers and constraints that will shape the market for AI 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 through or in combination with their proprietary technologies, product launches, mergers and acquisitions and other strategic market advantages

  • Coverage of the technological, economic and business considerations of the AI ​​in Fintech market, with analysis and growth forecasts through 2027

  • Analysis of the supplier landscape and the analysis of the global business share of the companies based on their segmental revenues

Market dynamics

Market drivers

  • Protecting customer accounts against cyber-attacks and bank fraud

  • Increasing digitization of the BFSI industry

  • Ask about RPA at financial institutions

Market challenges

  • Data Confidentiality and Privacy Issues

  • Need for skilled personnel to implement Ai in Fintech

  • Increasing competition in the financial sector

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Market opportunities

Main topics:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Industry Vision

Chapter 4 Market Dynamics

Chapter 5 Market Breakdown by Component

Chapter 6 Market Breakdown by Stake

Chapter 7 Market Breakdown by Application

Chapter 8 Market Breakdown by Regions

Chapter 9 Competitive landscape

Chapter 10 Company Profiles

Mentioned companies

For more information on this report visit https://www.researchandmarkets.com/r/qtp86v

Appendix

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