According to the new market research report by IndustryARC titled “Artificial Intelligence in Fintech Market: By Component (Products, Services); By Application Area(Credit Scoring, Personal Assistants, Compliance & Fraud Detection, Debt Collection, Virtual Assistant, Asset Management, Insurance, Debt Collection, Virtual Assistant, Sentiment Analysis, Predictive Analytics, Business Analytics & Reporting, Customer Behavioral Analytics); By Deployment Mode (Cloud, On-Premises); By Geography – (2018-2023)”, the market is driven by the readily available spatial data due to Increasing penetration of technology.
Americas holds the largest market share in the Artificial Intelligence in Fintech Market
Americas region holds the largest market share in the Artificial Intelligence in Fintech Market. However, Asia Pacific witnesses highest growth during the forecast period. Americas Artificial Intelligence in Fintech Market is mainly driven by the large number of startups and emerged companies offering AI services to financial services. The key applications include Virtual Assistant, Business Analytics & Reporting, Customer Behavioral Analytics among others.
Selected Impact Analysis Done in the Full Report
- Advent of technology is bringing up a new breakthrough every now and then and AI has certainly changed the way of data collection, data integration, analysis and deployment.
- As far as financial technology is concerned, the trend of these “robo-advisors” has brought in a drastic improvement in customer interaction and customized revenues.
- Systems such as chatbots, voice systems, and text chats are designed to replace the human intervention while being cost efficient. They are even intended to recognize and prevent fraud attempts.
- On the other hand, automated financial assistants and planners became handy in monitoring events and help customers in making financial decisions.
Selected Driving Factors Mentioned in the Report
The manifold benefits that Artificial Intelligence in the banking sector and other financial systems has resulted in the new boom for the market.
Machine Learning, Big Data Analytics, and Internet of Things (IoT) are the top key trends associated with Artificial Intelligence in Finance.
Key players of Artificial Intelligence in Fintech Market:
- Microsoft, Google, IBM, Intel, and Amazon are considered to be the key players of the Artificial Intelligence in Fintech Market.
- Google has acquired NestLabs in 2014 for a whopping $3.2billions.
- Similarly Microsoft has acquired GitHub in 2017 for a $7.5billions.
- In 2017, IBM has acquired three companies namely Agile 3 solutions(USA), XCC(Germany), and Vivant Digital (Australia)
Artificial Intelligence in Fintech Market Report is Segmented as Indicated Below:
- Artificial Intelligence in Fintech Market By Component:
- Software Tools
- Data Discovery
- Data Quality and Data Governance
- Data Visualization
- Software Tools
- Managed Services
- Professional Services
- Artificial Intelligence in Fintech Market By Application
- Virtual Assistants (Chatbots)
- Business Analytics and Reporting
- Regulatory and Compliance Management
- Predictive Analytics
- Customer Behavioral Analytics
- Credit Scoring
- Asset and Portfolio Management
- Debt Collection
- Insurance Premium
- Artificial Intelligence in Fintech Market By Deployment Mode
- Artificial Intelligence in Fintech Market By Geography (Covers 12 + Countries)
- Artificial Intelligence in Fintech Market Entropy
- Nuance Communications
- Company 4
- Company 5
- Company 6
- Company 7
- Company 8
- Company 9
- Company 10
More than 10 companies are profiled in this report
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