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AI in BFSI Market Share

Report ID: GMI2605
Published Date: Feb 2023
Report Format: PDF

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AI in BFSI Market Share

Some of the leading companies involved in the AI in BFSI market include

ATOS SE
AWS Inc.
Cape Analytics LLC
Google LLC (Alphabet, Inc.)
IBM Corporation
Lexalytics, Inc.
Intel Corporation
Microsoft Corporation
NVIDIA Corporation
Palo Alto Networks, Inc.
Tencent Holdings Limited

The market is foreseen to witness strategic collaborations and new product releases by companies. In February 2021, financial services company, BBVA, and Google Cloud, a cloud services suite, collaborated to revolutionize the bank's security strategy by optimizing and developing new AI & ML models for predicting and preventing cyberattacks.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market of AI in BFSI was worth more than USD 20 billion in 2022 and is anticipated to depict over 20% CAGR through 2032 resulting from increasing investments to implement AI solutions and services in the BFSI sector.

The customer service segment is projected to generate more than USD 60 billion in revenue by 2032 driven by the hyper-personalization of user experiences through the integration of AI technology into products and services, including intelligent voice and chatbots, which streamlines communication with customers.

Europe is projected to account for more than 25% of the market revenue by 2032, attributed to favorable government regulations that are encouraging the adoption of AI solutions and digitalization in a variety of sectors.

ATOS SE, AWS Inc., Cape Analytics LLC, Google LLC (Alphabet, Inc.), IBM Corporation, Lexalytics, Inc., Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Palo Alto Networks, Inc., and Tencent Holdings Limited are some of the major industry participants operating in the market.