With a 16% CAGR from 2017 to 2021, the market grew strongly. Another important aspect contributing to the industry’s growth during the assessment period is the growing application in the business analytics and reporting segment. The managed service is expected to expand swiftly due to its assistance in managing AI-enabled finance apps. Fintech startups are utilizing AI to offer the expert offerings anticipated to propel the segment’s growth.
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On the other hand, the market’s progress is anticipated to be significantly hampered by the growing instances of private information leakage and debit card cloning. Another obstacle preventing the industry’s growth in the future is the correct integration and analysis of a vast amount of data, which further complicates the process.
Key Takeaways from the AI In Fintech Market Report:
The AI in fintech market is experiencing remarkable growth, capturing a significant 32% market share and projecting a 4.6x surge from 2022 to 2032. Business analytics and reporting are driving this expansion with a documented CAGR of 16%. North America is anticipated to lead, securing US$ 35 Billion by 2032, while Asia Pacific is expected to record a CAGR of 16.5%, reflecting the global trend of rapid adoption and investment in AI technologies within the financial sector.
Leading Key Players:
Microsoft, Google LLC, Salesforce Inc., IBM Corporation, Amelia US LLC, Nuance Communications Inc., Complyadvantage.com, Narrative Science, Affirm Inc., Upstart Network Inc., Intel, Instructure Inc.
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