Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "Generative AI In Financial Services Market Size, Share & Trends Analysis Report By Application, By Deployment, By End-user, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global generative AI in financial services market was estimated at USD 1.67 billion in 2023 and is projected to grow at a CAGR of 39.1% from 2024 to 2030.
Generative AI is driving the automation of financial processes, leading to improved operational efficiency and reduced costs. AI-powered robo-advisors are increasingly offering automated investment management services, providing personalized advice with minimal human intervention. In the lending sector, AI is revolutionizing the underwriting process by quickly assessing the creditworthiness of borrowers through advanced data analysis. This automation not only speeds up financial processes but also enhances accuracy, ultimately benefiting both financial institutions and their customers.
Generative AI is enhancing risk management and fraud detection capabilities within financial institutions. By analyzing vast datasets in real-time, AI models can identify unusual transaction patterns and anomalies, significantly reducing the risk of fraud. Predictive analytics powered by AI enables financial institutions to anticipate and mitigate various risks, such as credit, market, and operational risks. This initiative-taking approach to risk management not only strengthens security but also ensures compliance with regulatory requirements, safeguarding both the institution and its clients.
Companies Profiled in the Report
- Alpha Sense
- Amazon Web Services, Inc.
- EY (Ernst & Young)
- Google LLC
- HCL Technologies
- IBM Corporation
- Intel Corporation
- Mastercard
- Microsoft
- Narrative Science
- OpenAI
- Salesforce, Inc.
- SAP
Generative AI In Financial Services Market Segmentation
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, the analyst has segmented the global generative AI in financial services market report based on application, deployment, end-user, and region.
- Application Outlook (Revenue, USD Million, 2018-2030)
- Risk Management
- Fraud Detection
- Credit Scoring
- Forecasting & Reporting
- Customer Service and Chatbots
- Deployment Outlook (Revenue, USD Million, 2018-2030)
- On-premises
- Cloud-based
- End-user Outlook (Revenue, USD Million, 2018-2030)
- Retail Banking
- Corporate Banking
- Insurance Companies
- Investment Firms
- Hedge Funds
- FinTech Companies
- Regional Outlook (Revenue, USD Million, 2018-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Middle East and Africa (MEA)
- UAE
- KSA
- South Africa
- North America
For more information about this report visit https://www.researchandmarkets.com/r/scnqgv
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