What is AI in Fintech?
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 break-up.
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. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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.
Segmentation Overview
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.
Market Trend
- Rising technological penetration
Market Drivers
- 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.
Opportunities
- Increasing mobile workforce is surging further innovation in the Fintech market
- Increasing use of AI-enabled technological solution in the capital market
Restraints
- Lack of skilled consultants to deploy AI in Fintech
Challenges
- Difficulty to cope with the rapidly expanding scope of AI in Fintech solution
- Development of smart human-aware Fintech solution
Key Target Audience
AI 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 Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.