AI in Fintech Market Definition
AI in Fintech is refer as artificial intelligence applied in Fintech which helps Fintech companies in solving human problems, by increasing efficiency. Artificial Intelligence improves results by applying methods derived from aspects of Human Intelligence at a beyond human scale. Artificial Intelligence improves results by applying methods derived from aspects of Human Intelligence at a beyond human scale.
The market study is broken down by Type (Software Tools, Platforms, Industry Segmentation, Virtual Assistant, Business Analytics and Reporting, Customer Behavioral Analytics and Others), by Application (Virtual Assistant (Chatbots), Business Analytics and Reporting, Customer Behavioral Analytics and Others (includes market research, advertising, and marketing campaign)) and major geographies with country level splits.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new technology, which is likely to encourage the growth of the global market throughout the forecast period.
Microsoft (United States), Google (United States), Salesforce.com (United States), IBM (United States), Intel (United States), Amazon Web Services (United States), Inbenta Technologies (United States), IPsoft (United States), Nuance Communications (United States) and ComplyAdvantage.com (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global AI in Fintech market by Type, Application and Region.
On the basis of geography, the market of AI in Fintech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Solution will boost the AI in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Mode, the sub-segment i.e. Cloud will boost the AI in Fintech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising technological penetration
- Fraud prevention and detection represent the most significant area of concern, for the financial institutions. This segment is likely to become one of the prominent drivers of IT expenditure. Thus, AI capable of avoiding these frauds is expected to experience increased adoption in Fintechs.
- Increasing mobile workforce is surging further innovation in the Fintech market
- Increasing use of AI-enabled technological solution in the capital market
- Lack of skilled consultants to deploy AI in Fintech
- Difficulty to cope with the rapidly expanding scope of AI in Fintech solution
- Development of smart human-aware Fintech solution
Key Target AudienceAI in Fintech Providers, Potential Technology Investors, Information security directors/managers, BFSI organizations, IT directors/consultants, Consultants/advisory firms, Training and education service providers, Regulatory & Government Bodies, Downstream Vendors and Other
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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