Artificial Intelligence in BFSI market Size ,Industry Segmentation by Type, Application, Regions, Key News and Top Companies Profiles|
The global Artificial Intelligence in BFSI market size is expected to reach USD 68.23 Billion at a steady CAGR of 36.5% in 2028, according to latest analysis by Emergen Research. Its panoramic view of the Artificial Intelligence in BFSI industry entails useful insights into the estimated Artificial Intelligence in BFSI market size, revenue share, and sales & distribution network such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future. Robotic process automation is helping in automating repetitive, rule-based tasks, which streamline meticulous and tiresome tasks, and avoid errors. This research is categorized differently based on the various aspects of this market.
Artificial Intelligence in BFSI Market Size – USD 5.64 Billion in 2020, Market Growth – at a CAGR of 36.5%, Market Trends – Increased usage during COVID-19 pandemic.AI understands customer behavior and allows banks to customize financial products and services by adding personalized features to build strong relationships with customers. Implementation of social distancing norms has reduced physical visits to banks, customers are increasingly using digital banking, and their expectations are changing due to premium services provided by some banks. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
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Key players in the market include Amazon Web Services (AWS), Inc., Google LLC, CognitiveScale, Inc., Descartes Labs, Inc., Avaamo, Inc., Intel Corporation, Baidu, Inc., SAP SE, Microsoft Corporation, and Oracle Corporation.
Artificial Intelligence (AI) helps in predicting future trends based on analysis of past behavior of customers, and also helps banks to detect patterns in laundering, identify fraud, and make customer recommendations. Increasing usage of Artificial Intelligence in BFSI for fraud prevention is driving growth of the market. Digital payment advisors, Artificial Intelligence bots, and biometric fraud detection mechanisms result in high quality of services to a wider customer base. AI understands customer behavior and allows banks to customize financial products and services by adding personalized features to buid strong relationships with customers. Robotic process automation is helping in automating repetitive, rule-based tasks, which streamline meticulous and tiresome tasks, and avoid errors
Emergen Research has segmented the global Artificial Intelligence in BFSI market on the basis of offering, solution, technology, application, and region:
Solution Outlook (Revenue, USD Million; 2018–2028)
Fraud Detection & Prevention
Customer Relationship Management
Chabot
Anti-money Laundering
Application Outlook (Revenue, USD Million; 2018–2028)
Risk Management
Financial Advisory
Compliance & Security
Back Office / Operation Customer Service
Offering Component Outlook (Revenue, USD Million; 2018–2028)
Software
Services
Hardware
Technology Outlook (Revenue, USD Million; 2018–2028)
Machine Learning
Context Aware Processing
Natural Language Processing (NLP)
Deep Learning
Others
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Market Taxonomy:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 3:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
Unfolding the prime factors prompting global market growth:
The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Artificial Intelligence in BFSI market into a broad product spectrum.
The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
Key Questions Answered in the Report:
What is the growth rate of the Artificial Intelligence in BFSI market? What is the anticipated market valuation of Artificial Intelligence in BFSI industry by 2027?
What are the key growth driving and restraining factors of the Artificial Intelligence in BFSI market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Artificial Intelligence in BFSI industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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