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A recent report published by Infinium Global Research on artificial intelligence in fintech market provides in-depth analysis of segments and sub-segments in the global as well as regional artificial intelligence in fintech market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional artificial intelligence in fintech market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global artificial intelligence in fintech market.
The Artificial Intelligence (AI) within the financial technology (fintech) sector represents a profound transformation in the way financial services are delivered, managed, and optimized. AI technologies, such as machine learning, natural language processing, and predictive analytics, are reshaping various facets of the fintech industry. This convergence of finance and AI, commonly referred to as "AI in Fintech," has the potential to drive innovation, enhance operational efficiency, elevate customer experiences, and tackle complex financial challenges. AI empowers financial institutions with the capability to make precise and rapid data-driven decisions. Machine learning algorithms can sift through extensive datasets to uncover patterns, forecast market trends, and optimize investment strategies. Furthermore, AI assumes a pivotal role in assessing and mitigating financial risks by evaluating creditworthiness, detecting fraudulent transactions, and delivering real-time risk assessments, ultimately minimizing losses and fortifying security. AI is revolutionizing fintech through its advanced tools for automation, data analysis, risk management, and customer engagement. As AI technologies continue to mature, they are poised to foster innovation, enhance financial services, and create new opportunities for both established financial institutions and emerging fintech startups.
The market growth is propelled by the escalating occurrences of fraud and cyberattacks. The imperative for robust fraud detection and prevention is propelling the adoption of AI. AI is adept at analyzing extensive transaction data in real-time, discerning fraudulent activities, and augmenting security. As the threat of cyberattacks looms larger, AI is employed to bolster cybersecurity measures. AI-driven solutions can swiftly identify and respond to security threats, safeguarding sensitive financial data. Furthermore, the burgeoning demand for personalized and convenient financial services is steering market expansion. In an era of increasingly tech-savvy customers, personalized and user-friendly financial services are expected. AI empowers fintech enterprises to provide bespoke solutions, such as tailored financial guidance and customer support delivered via chatbots and virtual assistants. However, fintech companies must navigate a multifaceted regulatory landscape. Adherence to financial regulations, Anti-money Laundering (AML) statutes, and Know-your-Customer (KYC) requirements can act as a barrier to market growth. Even though, the potential for AI in the fintech market is extensive and varied, presenting opportunities to revolutionize financial services, optimize operational efficiency, elevate customer experiences, and establish new revenue streams for inventive fintech organizations.
In the upcoming forecast period, North America is anticipated to maintain the dominant market share. North America, particularly the United States, holds a commanding position in the AI in the fintech market. The United States serves as a global nucleus for technological innovation, with Silicon Valley in California housing a profusion of tech conglomerates, startups, research institutions, and venture capital firms. This environment cultivates the development and adoption of cutting-edge AI technologies, including those tailored for fintech applications. Furthermore, the United States boasts a flourishing venture capital industry that avidly supports technology-driven ventures, encompassing fintech enterprises. Access to capital sources fortifies the financial foundation for AI startups and propels research and development endeavors. Additionally, the United States possesses a well-established regulatory framework for fintech and financial services, providing a bedrock of stability and predictability for entities operating within the sector. Regulatory transparency fosters the development and deployment of AI solutions. Meanwhile, the Asia-Pacific (APAC) region is emerging as the fastest-growing market in AI in Fintech. APAC encompasses a diverse array of nations marked by distinct stages of financial development, a diversity that spawns opportunities for bespoke AI-driven fintech solutions designed to address specific market requirements.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 10.88 Billiion |
| Market Size by 2030 | USD 40.76 Billiion |
| Growth Rate from 2023 to 2030 | CAGR of 15.78% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Component, By Deployment Mode, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global artificial intelligence in fintech market covers segments such as component, deployment mode, and application. On the basis of component, the sub-markets include solution, and services. On the basis of deployment mode, the sub-markets include on-premise, and cloud. On the basis of application, the sub-markets include virtual assistants (chatbots), business analytics and reporting, customer behavioral analytics, and others.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., Oracle, Cognizant, HCL Technologies Limited, FiCO, IBM Corporation, Intel Corporation, Microsoft Corporation, ComplyAdvantage, and Google LLC.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the artificial intelligence in fintech market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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