AI in FinTech Market Deep Research Report with Forecast by 2032 | Microsoft, Google, Salesforce.com, IBM

AI in FinTech provides tailored financial guidance to assist users in reaching their financial objectives. This customization is largely achievable thanks to AI for innovations in fintech and cryptocurrency. Additionally, AI in FinTech enhances customer service through chatbots, virtual assistants, and AI interfaces that can consistently engage with customers. Additionally, AI in FinTech aids in identifying fraud, a significant issue within the FinTech sector. Consequently, these are several factors driving the expansion of the market. Nevertheless, the finance and banking industries are governed by stringent regulations that promote fairness and adherence to tax laws. Nevertheless, AI analytics in financial services differs from conventional, human-driven analytics as it is not applicable for regulatory reporting. Moreover, the exclusivity of AI in FinTech is one of the key factors restricting the AI in FinTech market. In contrast, Fintech firms ranging from digital banks to payment gateway services and stock trading applications are progressively leveraging Artificial Intelligence (AI) to automate processes, enhance decision-making, and create value. Consequently, this is a significant factor anticipated to create profitable growth prospects in the upcoming years.

The AI in FinTech Market is Valued USD 12.4 billion in 2024 and projected to reach USD 76 billion by 2032, growing at a CAGR of 22.3% During the Forecast period of 2024-2032.

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Major Players in AI in FinTech Markets are:
Microsoft, Google, Salesforce.com, IBM, Intel, Cognizant, Amazon Web Services, Inbenta Technologies, IPsoft, Nuance Communications, and Comply Advantage and others

Industry News:

February 2024: Payments giant Mastercard built its own proprietary generative artificial intelligence model to help thousands of banks in its network detect and root out fraudulent transactions. According to the company, its new advanced AI model, Decision Intelligence Pro, would allow banks to better assess suspicious transactions on its network in real time and determine whether they are legitimate or not.

April 2024: Cognizant unveiled a strategic partnership with FICO, a prominent analytics software firm, to introduce a cloud-based, real-time payment fraud prevention solution. This innovative solution, driven by FICO Falcon Fraud Manager, harnesses both companies' advanced AI and ML technologies. It has been tailored to assist banks and payment service providers in North America, safeguarding their clientele amid the rapid expansion of digital payment platforms.

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Global AI in FinTech Market Segmentation:

By Component
Software,
Platform,
Services

By Application
Virtual Assistant
Business Analytics & Reporting
Customer Behavioural Analytics
Fraud Detection

By Deployment
Cloud
On-premises

The following areas and countries are covered in the worldwide AI in FinTech Market file:

North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)

North America attained the highest growth in 2021. This is attributed to the fact that the vast majority of financial advisors in North America believe that artificial intelligence (AI) will transform FinTech sector and help in driving the business growth. Furthermore, against increasingly challenging market conditions, AI has the potential to help FinTech sustain and drive new growth, by creating operating efficiencies and transforming the customer experience through more hyper-personalized insights and products.

Detailed industry forecast-Brief Introduction to the research report:

Additional information on company participants
Customized reports and analyst assistance are available upon request.
Recent market developments and potential future growth opportunities
Personalized regional/country reports upon request
New data sources are being integrated.
Increased focus on data privacy and security
Increased collaboration and co-creation

Know more about this report:
https://www.marketdigits.com/ai-in-fintech-market

Key Features of the AI in FinTech Market Report: -

Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.

Examine the market opportunities for stakeholders by identifying higher growth sections.

To study and analyze the global AI in FinTech Market industry status and forecast including key regions.

An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

It helps you make strategic business decisions and investment plans.
Finally, AI in FinTech Market is a valuable source of guidance for individuals and companies.

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