The global AI & advanced ML in BFSI market is anticipated to grow at an exponential CAGR of 50.5% during the forecast period (2023-2030). The banking industry is always situated at the forefront of constant innovation, amidst challenges posed by global economic uncertainties, emerging competitors, and ever-changing customer demand. The rising focus of major banks such as Deutche bank towards the adoption of AI & ML in its operations is a key factor driving the growth of the global AI & ML in BFSI market. Deutsche Bank is focusing on the aspects that how generative AI could help automate people-heavy processes in a potential “game-changer” for the industry. The bank has been examining the use cases for AI within the banking sector to find out that how it can be rolled out for various business lines.
Browse the full report description of “Artificial Intelligence (AI) & Advanced Machine Learning (ML) in BFSI Market Size, Share & Trends Analysis Report by Type (Solution and Services), by Deployment (Cloud and On-Premises), and by Application (Chatbots, Credit Scoring, Quantitative and Asset Management, Fraud Detection, and Others), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/ai-and-advanced-ml-in-bfsi-market
For instance, in June 2023, US Bank's Erickson says that AI is a key reason to invest in tech in banking sector. The enhanced security, customer sentiment analysis, and better customer service are the key benefits contributing to the adoption of AI & ML in BFSI market. The major investment banks including JPMorgan, Goldman Sachs and Lazard are already using technology to automate parts of the deal making process in a bid to increase efficiency and improve work-life balance, particularly among their junior employees.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022v
• Forecast period- 2023-2030
• Segment Covered-
o By Component
o By Deployment Model
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Amazon Web Services, Inc., Cisco Systems Inc., IBM Corp., Microsoft Corp., and SAP SE, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global AI & Advanced Machine Learning in BFSI Market Report Segment
By Component
By Deployment Model
By Application
Global AI & Advanced Machine Learning in BFSI Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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