Dublin, Dec. 20, 2024 (GLOBE NEWSWIRE) — The “AI in Finance Market by Product (Algorithmic Trading, Virtual Assistants, Robo-Advisors, GRC, IDP, Underwriting Tools), Technology, Application (Fraud Detection, Risk Management, Trend Analysis, Financial Planning, Forecasting), and Region – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The AI in Finance market is projected to grow from USD 38.36 billion in 2024 to USD 190.33 billion by 2030, at a compound annual growth rate (CAGR) of 30.6% during the forecast period. Chatbots and virtual assistants are in demand in the AI-driven finance market due to the ability to automate customer service, enhance user experience, and reduce operational costs. The rising demand of AI-powered algorithms enhance risk identification and mitigation, fostering safer financial practices is shaping the AI in Finance market.
The research covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the AI in Finance market.
FIS (US), Fiserv (US), Google (US), Microsoft (US), Zoho (India), IBM (US), Socure (US), Workiva (US), Plaid (US), SAS (US), and C3 AI (US); are some of the key players in the AI in Finance market. The study includes an in-depth competitive analysis of these key players in the AI in Finance market, including their company profiles, recent developments, and key market strategies.
By end user, the Fintech segment will register the highest CAGR during the forecast period
Fintech companies are increasingly leveraging AI to automate financial services, enhance customer experiences, and improve operational efficiency. This technology enables real-time data analysis, which is crucial for personalized financial solutions and effective risk management. As consumers demand faster and more efficient services, fintech firms are utilizing AI for tasks such as fraud detection, credit scoring, and customer engagement through chatbots. The continuous innovation and competitive landscape in fintech drive the need for sophisticated AI solutions, positioning this segment for substantial growth in the coming years.
By region, Asia-Pacific is projected register the highest CAGR market during the forecast period
Rapid digital transformation across economies and the rise of fintech startups are driving AI solutions in Asia-Pacific. Countries like China and India are investing heavily in AI technologies to enhance financial services and improve customer experiences. The region’s vast consumer base presents major opportunities of customized financial products and services. Regulatory bodies such as Monetary Authority of Singapore (MAS) and Cyberspace Administration of China (CAC) promote innovation and further boost market growth. The increasing focus on data-driven decision-making and the need for efficient risk management solutions also contribute to the rapid adoption of AI in finance, positioning Asia-Pacific as a leader in this sector.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 393 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $38.36 Billion |
| Forecasted Market Value (USD) by 2030 | $190.33 Billion |
| Compound Annual Growth Rate | 30.6% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Increasing Demand for Precise Forecasts for Strategic Planning and Investment
- Growing Adoption of AI Algorithms to Enhance Risk Detection and Mitigation
- Rising Popularity of Personalized Financial Services
- Restraints
- Concerns Regarding Bias and Ethical Data Use
- Opportunities
- Growing Need for Hyper-Personalized Financial Products for Long-Term Customer Engagement and Tailored Services
- Rising Demand for Accurate Credit Scoring and Better Risk Management
- Challenges
- Ensuring Data Security to Prevent Breaches or Violations
- AI Model Complexity in Finance
Case Study Analysis
- PayPal Enhances Fraud Detection Capabilities with H2O.AI’s Driverless AI Solution
- Vena Solutions Transforming Financial Reporting and Planning at Shift4 Payments
- Investa Enhances Fund Reporting Efficiency with Workiva’s Streamlined Solutions
- Datavisor and Microsoft Azure Collaborate to Enhance Real-Time Fraud Detection
- Zoho Empowers Plenti with Unified CRM Solution to Enhance Customer Engagement and Operational Efficiency
Additional Topics Analyzed
- Evolution of AI in Finance Market
- Supply Chain Analysis
- Ecosystem Analysis
- Technology Analysis
- Key Conferences and Events, 2024-2025
- Investment and Funding Scenario
- Regulatory Landscape
- Patent Analysis
- Pricing Analysis
- Trends/Disruptions Impacting Customer Business
- Key Stakeholders and Buying Criteria
- Impact of Generative AI on AI in Finance Market
Companies Profiled in this AI in Finance Market Report
- FIS
- Fiserv
- Microsoft
- Zoho
- IBM
- Socure
- Workiva
- Plaid
- C3 AI
- HighRadius
- SAP
- AWS
- HPE
- Oracle
- Salesforce
- Intel
- NVIDIA
- NetApp
- DataRobot
- Enova International
- AlphaSense
- Ocrolus
- Vectra AI
- Teradata
- Pega
- Vena Solutions
- Affirm
- SymphonyAI
- Envestnet | Yodlee
- Addepto
- Deeper Insights
- H2O.ai
- App0
- Underwrite.AI
- Deepgram
- Emagia
- InData Labs
- Zest AI
- Scienaptic AI
- Gradient AI
- Kasisto
- Trumid
- DataVisor
- Kavout
- WealthBlock
For more information about this report visit https://www.researchandmarkets.com/r/1e03eu
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