Generative Artificial Intelligence In Fintech Market Expected to Achieve 35% CAGR by 2029: Growth Forecast Insights

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How Large Will the Generative Artificial Intelligence In Fintech Market Size By 2025?
The market size for generative artificial intelligence in fintech has seen tremendous growth recently. From $1.61 billion in 2024, it is projected to soar to $2.17 billion in 2025, marking a compound annual growth rate (CAGR) of 35.3%. The substantial development during the historic period is due to factors such as an enhanced accessibility of financial data, demand for automated financial services, increase in digital transactions, regulatory backing for fintech innovation, a necessity for better risk management strategies and an escalating utilization of AI in providing customer services.

How Big Is the Generative Artificial Intelligence In Fintech Market Size Expected to Grow by 2029?
The market size of generative artificial intelligence in fintech is predicted to experience a remarkable increase in the coming years, reaching $7.23 billion in 2029 at a compound annual growth rate (CAGR) of 35.1%. The expansion during the forecast period can be linked to a heightened emphasis on customized financial services, heightened use of AI in fraud detection, the need for effective compliance resolutions, the proliferation of AI-enabled asset management tools, the surge in AI-based predictive analytics, a focus on instantaneous decision-making, and an upswing in digital and internet banking services. Notable trends for the forecast period comprise the fusion of AI with blockchain technology, the creation of sophisticated AI-led trading algorithms, the expansion of AI-facilitated personal finance management tools, breakthroughs in AI for credit scoring and lending, and progressive developments in generative AI for financial forecasting and planning.

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Which Key Market Drivers Powering Generative Artificial Intelligence In Fintech Market Expansion and Growth?
The growth of generative artificial intelligence in the fintech market is anticipated to be driven by the increasing transition to digital banking. Digital banking involves the use of digital technology for the provision and management of banking services and transactions via online platforms and mobile applications. The surge in demand for digital banking is attributed to factors such as its convenience, widespread use of smartphones, advancements in financial technology, and the need for improved security and efficiency in the handling of financial transactions. Generative artificial intelligence augments digital banking by automating complicated tasks, personalising customer interactions, and enhancing the decision-making processes. It also enables financial institutions to streamline operations, manage risks effectively and deliver more efficient and customized banking experiences. As an illustration, in April 2024, UK Finance Limited, a trade association for the banking and financial services sector based in the UK, revealed that there was significant growth in digital-only bank accounts, which increased from 24% in 2023 to 36% in 2024. Consequently, the rising transition towards digital banking fuels the presence of generative artificial intelligence in the fintech market.

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Which Fast-Growing Trends Are Poised to Disrupt the Generative Artificial Intelligence In Fintech Market?
Key players in the generative artificial intelligence realm within fintech are honing their focus on the creation of cutting-edge AI technology, like generative AI bond aides. These tools are designed to boost the efficacy of bond trading while simultaneously offering real-time pricing and portfolio management insights. The use of generative AI bond tools facilitates bond investing and trading by delivering real-time intelligence, augmenting liquidity identification, and aiding in choosing bonds according to specific user preferences. In an illuminating example from June 2023, US company LTX by Broadridge, which offers a trading platform for the corporate bond sector, unveiled BondGPT. This innovative generative AI tool, powered by OpenAI's GPT-4, is engineered to optimize trading within the US corporate bond market. It allows users to pose bond-related inquiries and identify corporate bonds per specific criteria via a conversational interface. BondGPT integrates real-time liquidity data from LTX's Liquidity Cloud and capitalizes on advanced bond similarity algorithms to pair bonds with similar attributes to user-specified parameters. The primary objective of this groundbreaking innovation is to streamline bond selection and portfolio building procedures, thus granting asset managers, hedge funds, and dealers enhanced liquidity detection and pricing decision assistance.

What Are the Emerging Segments in the Generative Artificial Intelligence In Fintech Market?
The generative artificial intelligence in fintechmarket covered in this report is segmented -

1) By Component: Service, Software
2) By Deployment: On-Premises, Cloud
3) By Application: Compliance And Fraud Detection, Personal Assistants, Asset Management, Predictive Analysis, Insurance, Business Analytics And Reporting, Customer Behavioral Analytics, Other Applications
4) By End-Use: Retail Banking, Investment Banking, Stock Trading Firms, Hedge Funds, Other End-Uses

Subsegments:
1) By Service: Consulting Services For AI Integration, Implementation And Deployment Services, Technical Support And Maintenance, Training And Education Services, Data Management And Analytics Services, Custom Development Services
2) By Software: Fraud Detection And Prevention Solutions, Risk Assessment And Management Tools, Algorithmic Trading Platforms, Personalized Financial Advisory Software, Automated Compliance And Reporting Tools, Customer Relationship Management (CRM) Systems.

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Who Are the Global Leaders in the Generative Artificial Intelligence In Fintech Market?
Major companies operating in the generative artificial intelligence in fintech market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Morgan Stanley, Salesforce Inc., Capgemini Services SAS, Mastercard International Inc., Infosys Ltd., Adobe Inc., Temenos AG, Upstart Network Inc., Darktrace Holdings Limited, C3.AI inc., DataRobot Inc., Kore.AI inc., AlphaSense Inc., H2O.AI inc., Zest AI inc., Kasisto Inc., CLARA Analytics Inc., Zapata Computing Inc.

Which are the Top Profitable Regional Markets for the Generative Artificial Intelligence In Fintech Industry?
North America was the largest region in the generative artificial intelligence (AI) in the fintech market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence in fintech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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