Global Artificial Intelligence In Fintech Industry size was valued at USD 12.32 Billion in 2023 and is expected to reach USD 45.07 Billion by 2032, at a CAGR of 15.5% during the forecast period 2023 – 2032.
Artificial Intelligence in Fintech Industry – Overview
The advent of Artificial Intelligence (AI) is ushering in a revolution like never before in the Fintech Industry. In the ever-evolving landscape of the financial technology sector, Artificial intelligence is acting as a game-changer and transforming the fintech landscape.
The incorporation of Artificial Intelligence in FinTech has given rise to a synergy that not only streamlines traditional financial processes but also introduces groundbreaking capabilities that were once confined to the realm of science fiction.
AI is revolutionizing the FinTech industry by automating financial processes, streamlining transactions, risk and fraud detection and enhancing customer experience.
Major drivers observed in Artificial intelligence in the fintech industry are the Rapidly expanding fintech industry, growing usage of AI in automation of the Fintech industry, the growing penetration rate of high speed internet, rising number of cybercriminals, growing research and development opportunities are driving the market.
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However, the lack of universal directives about the usage of artificial intelligence, increasing data privacy and security concerns are restraining the market growth during the forecast period.
Global artificial intelligence in the fintech industry is segmented by component, deployment type, application and region.
By component, the market is segmented into solutions, and services. Among all of these, the solution segment dominated the market in 2022 and is expected to keep its dominance over the forecast period owing growing implementation of software tools in fintech companies, as they aid in deploying AI-enabled solutions in the banking industry to extract correct and complete data with a significant amount of data and on time.
By application, the business analytics and reporting segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period.
Custom Market Insights has comprehensively analyzed Artificial Intelligence in Fintech market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Artificial Intelligence in the Fintech industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value-addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Artificial in Fintech Industry:
- Accenture
- Amazon Web Services (AWS)
- Ant Group
- Banco Santander Brasil
- BNP Paribas
- First Abu Dhabi Bank
- Goldman Sachs
- Google LLC
- HSBC Holdings plc
- IBM Corporation
- Itaú Unibanco
- JPMorgan Chase & Co.
- Microsoft Corporation
- NVIDIA Corporation
- Palantir Technologies
- Santander Group
- SoftBank Group Corp.
- Standard Bank Group
- Tencent Holdings Limited
- Wells Fargo & Co.
- Others
Table of Contents: https://www.custommarketinsights.com/report/artificial-intelligence-in-fintech-market/#table-of-contents
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