Artificial Intelligence (AI) is fast evolving as the go-to technology for companies across the world to personalise experience for individuals. The rudimentary applications AI include bring smarter chat-bots for customer service, personalising services for individuals, and even placing an AI robot for self-service at banks. Beyond these basic applications, banks can implement the technology for bringing in more efficiency to their back-office and even reduce fraud and security risks.
Artificial intelligence (AI) in banking, financial services and insurance (BFSI) is projected to grow significantly in the coming years. Positive rise of AI-based application in BFSI such as customer support, fraud detection, and improving employee efficiency, buoyed the AI in BFSI market.
According to this study, over the next five years the Artificial Intelligence (AI) in BFSI market will register a 28.7% CAGR in terms of revenue, the global market size will reach US$ 11300 million by 2023, from US$ 2500 million in 2017. In particular, this report presents the global revenue market share of key companies in Artificial Intelligence (AI) in BFSI business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Artificial Intelligence (AI) in BFSI market by product type, application, key companies and key regions.
This study considers the Artificial Intelligence (AI) in BFSI value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2013 to 2018, in Section 2.3; and forecast to 2023 in section 10.7.
Machine Learning (ML)
Natural Language processing (NLP)
Segmentation by application: breakdown data from 2013 to 2018, in Section 2.4; and forecast to 2023 in section 10.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Amazon Web Services Inc
Cape Analytics LLC
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Artificial Intelligence (AI) in BFSI market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Artificial Intelligence (AI) in BFSI market by identifying its various subsegments.
Focuses on the key global Artificial Intelligence (AI) in BFSI players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Artificial Intelligence (AI) in BFSI with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Artificial Intelligence (AI) in BFSI submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.