Artificial Intelligence in the main BFSI Market Competitors, Drivers, Trends, Restraints and Key Players by 2028

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Growing use of artificial intelligence in BFSI for fraud prevention is driving market growth

Artificial Intelligence in BFSI Market Size – USD 5.64 Billion in 2020, Market Growth – at a CAGR of 36.5%, Market Trends – Increased Usage During COVID-19 Pandemic »

— Emerging research

VANCOUVER, BC, CANADA, August 23, 2022 /EINPresswire.com/ — The Global Artificial Intelligence in the BFSI market the size is expected to reach USD 68.23 billion at a stable CAGR of 36.5% in 2028, according to the latest analysis from Emergen Research. Artificial intelligence (AI) helps predict future trends based on analysis of past customer behavior, and also helps banks detect money laundering patterns, identify fraud and make recommendations to customers. These benefits are reflected in increasing deployment of AI in banking operations, which is driving the revenue growth of the global Artificial Intelligence market in the BFSI market.

The Artificial Intelligence in BFSI Market report covers the various market scenarios that have a direct impact on market growth. The Artificial Intelligence in BFSI report study includes insights into market factors such as market dynamics, including drivers, restraints, challenges, threats, and potential growth opportunities, market trends, development models, financial information, latest technologies, innovations, key competitors and regional analysis of the market.

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The report further studies the major companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers an overview of their market reach and global position, as well as highlights on their achievements and financial status.

Key Players/Manufacturers profiled in the report are:

Amazon Web Services (AWS), Inc., Google LLC, CognitiveScale, Inc., Descartes Labs, Inc., Avaamo, Inc., Intel Corporation, Baidu, Inc., SAP SE, Microsoft Corporation, and Oracle Corporation.

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A few highlights

In February 2021, FinMkt, which is a SaaS provider of loan origination and point-of-sale financing, announced its partnership with Persistent, which is a global solutions company that offers enterprise modernization, product engineering of new generation and an acceleration of digital activities. The partnership will enable small and medium financial institutions to accelerate digital lending strategies. FinMkt will enhance its artificial intelligence and machine learning capabilities to provide financial institutions with important insights to shape their credit policies.

The fraud detection and prevention units of BFSI companies use artificial intelligence to eliminate these activities. Big data is characterized by its volume and value, as well as its real-time capture and processing, and natural language processing (NLP) algorithms can detect inconsistencies and discrepancies and provide fraud prevention.

Machine learning offers opportunities for banking companies to improve their business by improving the performance and efficiency of BFSI operations. Machine learning attempts to study, identify and classify patterns and make decisions based on data collected over time. Machine learning can be used to produce accurate and fast results, which will drive demand among BFSIs.

Emergen Research has segmented the global Artificial Intelligence in BFSI market on the basis of offering, solution, technology, application, and region:

Supply Components Outlook (Revenue, USD Million; 2018-2028)

Software

Services

Material

Solution Outlook (Revenue, USD Million; 2018-2028)

Fraud detection and prevention

Customer relationship management

sculpin

Fight against money laundering

Data analysis and prediction

Others

Technology Outlook (Revenue, USD Million; 2018-2028)

machine learning

Context sensitive processing

Natural Language Processing (NLP)

deep learning

Others

Application Outlook (Revenue, USD Million; 2018-2028)

Risk management

Financial advice

Compliance and Security

Back Office / Customer Service Operation

The objective of the study is to define the market size of Artificial Intelligence in BFSI of different segments and countries in previous years and to forecast the values ​​to the next Five years. The report is designed to incorporate both qualified qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also provides in-depth information about such crucial aspects as drivers and restraining factors which will define the future growth of the Artificial Intelligence on BFSI market.

Regional Analysis For Artificial Intelligence In BFSI Market:

North America (USA, Canada)

Europe (UK, Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)

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The objective of the study is to define the market size of Artificial Intelligence in BFSI of different segments and countries in previous years and to forecast the values ​​to the next Five years. The report is designed to incorporate both qualified qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also provides in-depth information about such crucial aspects as drivers and restraining factors which will define the future growth of the Artificial Intelligence on BFSI market.

Why Choose Artificial Intelligence in BFSI Market Report?

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You need to find out how this will affect artificial intelligence in the BFSI market today and over the next 10 years:

• Our 250-page report offers you 194 tables and 189 tables/graphs exclusively.

• The report highlights the top lucrative areas of the industry so you can target them – now.

• It contains an in-depth analysis of global, regional and national sales and growth.

• It highlights for you the key successful trends, changes and revenue projections made by your competitors.

This report tells you today how the Artificial Intelligence on BFSI market will develop over the next 10 years, and in accordance with variations in the economic downturn and rebound from COVID-19. This market is more critical today than at any time in the past 10 years.

Thank you for reading our report. Customization of this report is available in sections by chapter or by region. Please contact us to find out more about the report, and our team will provide excellent support.

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The global Artificial Intelligence in BFSI market size is expected to reach USD 68.23 billion at a stable CAGR of 36.5% in 2028

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