Global AI and Advance Machine Learning in BFSI Market Report (2021 to 2030) Posted on : Dec 30 - 2021

The "AI and Advance Machine Learning in BFSI Market By Component, Deployment Model, Enterprise Size and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Artificial intelligence (AI) in finance is transforming the BFSI industry, as AI is helping the financial industry to streamline and optimize processes ranging from credit decisions to quantitative trading and financial risk management. In addition, advanced machine learning technology is being used to help organizations to improve customer experience and to enhance their market share.

Furthermore, it provides various solutions to the baking sector to replace routine manual work with automation and to increase productivity. In addition, AI and advanced machine learning help in reducing credit default frauds by monitoring transactions to detect suspicious transactions with compliance concerns.

Improvement in data collection technology among the banks and financial institutions positively impacts the growth of the market. In addition, an increase in investment by BFSI companies in AI and machine learning and a rise in customer preferences for personalized financial services boost the growth of the market across the globe.

However, factors such as the higher deployment cost of AI and advance machine learning and lack of skilled labor are limiting the growth of the market. On the contrary, the surge in the adoption of modern applications in the BFSI sector is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

The global AI and advance machine learning in BFSI market is segmented into component, deployment model, enterprise size, application and region. Depending on the component, the market is segregated into solutions and services.

On the basis of deployment model, it is categorized into on-premise and cloud. Depending on enterprise size, it is fragmented into large enterprises and SMEs.

Based on application, the market is divided into fraud & risk management, customer segmentation, sales & marketing, digital assistance and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. View more