Artificial Intelligence in BFSI Market is expected to reach US $ 471.07 Bn by 2029, at a CAGR of 38% during the forecast period.

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Artificial Intelligence in BFSI Market Report Scope and Research Methodology

The Artificial Intelligence in BFSI Market report includes the comprehensive analysis of the industry in a simple language. A detailed analysis of Artificial Intelligence in BFSI Market dynamics has been included in the report. The past, present and the expected trends in the forecast period has also been provided in the report. For understanding the global factors affecting the industry, the report presents drivers, challenges, restraints and opportunities prevailing in the Artificial Intelligence in BFSI market. Detailed analysis of external & internal factors impacting the market is covered through PESTEL & PORTER analysis.

Dedicated study of the rivalry in the industry is covered, which includes market leaders, followers, and new entrants. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive Artificial Intelligence in BFSI market engineering and calculations for market statistics; market size estimations, market forecasts, market breakdown and data triangulation. The secondary data was collected from the company’s annual reports, articles, paid and free databases, etc. To estimate the regional and global Artificial Intelligence in BFSI market size, the bottom-up approach was used.

Artificial Intelligence in BFSI Market Overview

The industry overview gives thorough details about the size of the market all the market dynamics including strategies, market revenue, pricing analysis, micro and macro market trends and scenarios & Industry benchmarks. Region wise market opportunities & barriers are also studied in detail .

Market Segmentation

The global artificial intelligence (AI) in the financial services industry market is divided into segments based on component, technology, application, end-use, and region. Due to the security and evaluation of know your customer (KYC) verification process being greatly simplified by software tools, solution accounted for a significant part of the component market in 2021 and is anticipated to maintain its dominance throughout the forecast period. Because chatbots are powered by natural language processing, they are the most popular category of solutions. Banks and other financial institutions use chatbots to simplify onboarding procedures, improve customer service, and boost revenues. Additionally, it improves cost effectiveness by drastically cutting consumer acquisition expenses while simultaneously gathering feedback from customers in real time.

National Language Processing (NLP), which is used increasingly in financial services outside of banking, insurance, and hedge funds, had the greatest market share by technology in 2021. NLP technology is used to build transactional bots that can analyse data presented in human language. For instance, consumers can simply check their account information using chatbots and even voice assistants rather than going onto individual balance-check accounts. It can also be accessed remotely from any location. The spread of the internet of things is responsible for the development of natural language processing (NLP) technology. For instance, the Singapore-based startup LenddoEFL provides a programme called LenddoScore that assesses borrower creditworthiness using cutting-edge NLP and machine learning algorithms.

The platform incorporates prospective borrowers' digital footprints from social media, browser history, geolocation, and other personal device data. Healthcare and life sciences, which track patients' journeys, improve their experiences, and optimise hospital efficiency, held the largest market share by application in 2021 and is anticipated to maintain its dominance over the projected period. Due to growing technological advancements and larger investments in artificial intelligence technology targeted at improving customer services and boosting sales in their enterprises, the banks segment held the biggest market share by end-use.

Market Key Players

• Amazon Web Services, Inc
• Avaamo
• Baidu, Inc
• Cape Analytics, LLC
• CognitiveScale, Inc
• Comply Advantage
• Descartes Labs, Inc
• Digital Reasoning, Inc
• Google LLC
• Inbenta Technologies
• Intel Corporation
• Interaction LLC
• Ipsoft
• Lexalytics, Inc.
• Microsoft Corporation
• NEXT IT
• Oracle
• Palantir Technologies, Inc.
• Salesforce.com, Inc.
• SAP SE
• ZestFinance, Inc.
• IBM
• Salesforce

Artificial Intelligence in BFSI Market Regional Insights

The regional analytics cover North America, South America, Asia Pacific, Europe & Middle East and Africa. The report includes a detailed explanation of market size, market drivers, barriers, CAGR, and import and export in all the regions.

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Key questions answered in the Artificial Intelligence in BFSI Market are:

• What is Artificial Intelligence in BFSI?
• What are the global trends in the Artificial Intelligence in BFSI Market?
• What was the Artificial Intelligence in BFSI Total Market size in 2022?
• What is expected Artificial Intelligence in BFSI Market size by 2029?
• Who held the largest market share in Market?
• Who are the leading companies and what are their portfolios in Market?
• What are the major challenges that the Artificial Intelligence in BFSI Industry could face in the future?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Industrial Manipulator Market Size, Share, Size & Forecast by different segment | 2022−2029
• Industrial Manipulator Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Industrial Manipulator Market Segmentation – A detailed analysis by Type, Application and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis

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