The global artificial intelligence (AI) in BFSI market was valued at $17,765.2 million in 2018 and is expected to reach $247,366.7 million by 2026, registering a CAGR of 38.0% from 2019 to 2026. Artificial intelligence is the recreation of human intelligence that perform tasks like humans. In financial institutions and other major finance industries, AI has become a core adaption and is expected to change the overall scenario of product and service offerings. For instance, insurance companies are improving risk models to maintain customer loyalty and client satisfaction with the help of advanced AI technological platforms.
Various fraud detection, risk mitigation, back-end office works with thousands of people processing customer requests are improved with the help of AI enabled technologies such as chatbots, machine learning, and other such technologies, which boosts the growth of the market. In addition, the reduction in the tendency of human errors by automation of backend processes and enhancement in proactive customer experience is expected to drive the growth of the AI in the BFSI market. However, rise in security concerns, inadequacy of trust while issuing customer data, and higher cost for implementation of AI technologies is expected to restrain the market growth.
New entrants like FinTech (Financial Technology) with advance features in the market, new initiatives in government regulations, and existing traditional banking system provides lucrative opportunities for the market growth.
The global artificial intelligence (AI) in BFSI market is segmented on the basis of offerings, solution, technology, and region. On the basis of offerings, it is segmented into hardware, software, and services. By service providers, it is segmented into chatbots, fraud detection & prevention, anti-money laundering, customer relationship management, data analytics & prediction, and others. By technology, it is classified into deep learning, querying method, natural language processing, and context aware processing. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
ü The study provides an in-depth analysis of the global artificial intelligence (AI) in BFSI market along with the current trends and future estimations to elucidate the imminent investment pockets.
ü Comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
ü Comprehensive quantitative analysis of the industry from 2019 to 2026 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
ü Extensive analysis of the key segments of the industry helps in understanding the offerings, solution, and technology across the globe.
ü Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
• By Offerings
o Hardware
o Software
o Services
• By Solution
o Chatbots
o Fraud Detection & Prevention
o Anti-Money Laundering
o Customer Relationship Management
o Data Analytics & Prediction
o Others
• By Technology
o Deep Learning
o Querying Method
o Natural Language Processing
o Context Aware Processing
• By Region
o North America
• U.S.
• Canada
• Mexico
o Europe
o UK
o Germany
o France
o Rest of Europe
o Asia-Pacific
o Japan
o India
o China
o Australia
o Rest of Asia-Pacific
o LAMEA
o Middle East
o Latin America
o Africa
KEY PLAYERS PROFILED
• Alphabet Inc. (Google)
• Baidu, Inc.
• Inbenta Technologies, Inc.
• Intel Corporation
• International Business Machines Corporation (IBM)
• Microsoft Corporation
• Oracle Corporation
• Palantir Technologies Inc.
• SAP SE
• salesforce.com, inc.
The other players in the market include (profiles not included in the report) the following:
• Lexalytics Inc.
• Digital Reasoning Inc.
• Interaction LLC, Inc.
• Ipsoft Inc.
• Zest Finance
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.3.1. List Of Key Players Profiled In The Report
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models
Chapter 2: Executive Summary
2.1. Key Findings Of The Study
2.2. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies, 2018
3.3. Top Player Positioning, 2017
3.4. Porter’S Five Forces Analysis
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Rise In Technological Advancements
3.5.1.2. Increasing Preferences For Personalized Financial Services
3.5.1.3. Business Expansion
3.5.2. Restraints
3.5.2.1. Rise In Security Concerns
3.5.2.2. Low Adoption Of Artificial Intelligence In Businesses
3.5.3. Opportunity
3.5.3.1. Enhance Existing Customer Experience
3.5.4. Impact Analyses
Chapter 4: Artificial Intelligence In Bfsi Market, By Offerings
4.1. Overview
4.1.1. Market Size And Forecast
4.2. Hardware
4.2.1. Key Market Trends, Growth Factors, And Opportunities
4.2.2. Market Size And Forecast, By Country
4.2.3. Market Size And Forecast, By Region
4.3. Software
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Country
4.3.3. Market Size And Forecast, By Region
4.4. Services
4.4.1. Key Market Trends, Growth Factors, And Opportunities
4.4.2. Market Size And Forecast, By Country
4.4.3. Market Size And Forecast, By Region
Chapter 5: Artificial Intelligence In Bfsi Market, By Solution
5.1. Overview
5.1.1. Market Size And Forecast
5.2. Chatbots
5.2.1. Market Size And Forecast, By Country
5.2.2. Market Size And Forecast, By Region
5.3. Fraud Detection & Prevention
5.3.1. Market Size And Forecast, By Country
5.3.2. Market Size And Forecast, By Region
5.4. Anti-Money Laundering
5.4.1. Market Size And Forecast, By Country
5.4.2. Market Size And Forecast, By Region
5.5. Customer Relationship Management
5.5.1. Market Size And Forecast, By Country
5.5.2. Market Size And Forecast, By Region
5.6. Data Analytics & Prediction
5.6.1. Market Size And Forecast, By Country
5.6.2. Market Size And Forecast, By Region
5.7. Others
5.7.1. Market Size And Forecast, By Country
5.7.2. Market Size And Forecast, By Region
Chapter 6: Artificial Intelligence In Bfsi Market, By Technology
6.1. Overview
6.1.1. Market Size And Forecast
6.2. Deep Learning
6.2.1. Market Size And Forecast, By Country
6.2.2. Market Size And Forecast, By Region
6.3. Querying Method
6.3.1. Market Size And Forecast, By Country
6.3.2. Market Size And Forecast, By Region
6.4. Natural Language Processing (Nlp)
6.4.1. Market Size And Forecast, By Country
6.4.2. Market Size And Forecast, By Region
6.5. Context Aware Processing
6.5.1. Market Size And Forecast, By Country
6.5.2. Market Size And Forecast, By Region
Chapter 7: Artificial Intelligence In Bfsi Market, By Region
7.1. Overview
7.1.1. Market Size And Forecast
7.2. North America
7.2.1. Key Market Trends, Growth Factors, And Opportunities
7.2.2. Market Size And Forecast, By Country
7.2.2.1. U.S.
7.2.2.1.1. U.S. Artificial Intelligence In Bfsi Market, By Offerings
7.2.2.1.2. U.S. Artificial Intelligence In Bfsi Market, By Solution
7.2.2.1.3. U.S. Artificial Intelligence In Bfsi Market, By Technology
7.2.2.2. Canada
7.2.2.2.1. Canada Artificial Intelligence In Bfsi Market, By Offerings
7.2.2.2.2. Canada Artificial Intelligence In Bfsi Market, By Solution
7.2.2.2.3. Canada Artificial Intelligence In Bfsi Market, By Technology
7.2.2.3. Mexico
7.2.2.3.1. Mexico Artificial Intelligence In Bfsi Market, By Offering
7.2.2.3.2. Mexico Artificial Intelligence In Bfsi Market, By Solution
7.2.2.3.3. Mexico Artificial Intelligence In Bfsi Market, By Technology
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, And Opportunities
7.3.2. Market Size And Forecast, By Country
7.3.2.1. Germany
7.3.2.1.1. Germany Artificial Intelligence In Bfsi Market, By Offering
7.3.2.1.2. Germany Artificial Intelligence In Bfsi Market, By Solution
7.3.2.1.3. Germany Artificial Intelligence In Bfsi Market, By Technology
7.3.2.2. France
7.3.2.2.1. France Artificial Intelligence In Bfsi Market, By Offerings
7.3.2.2.2. France Artificial Intelligence In Bfsi Market, By Solution
7.3.2.2.3. France Artificial Intelligence In Bfsi Market, By Technology
7.3.2.3. Uk
7.3.2.3.1. Uk Artificial Intelligence In Bfsi Market, By Offering
7.3.2.3.2. Uk Artificial Intelligence In Bfsi Market, By Solution
7.3.2.3.3. Uk Artificial Intelligence In Bfsi Market, By Technology
7.3.2.4. Rest Of Europe
7.3.2.4.1. Rest Of Europe Artificial Intelligence In Bfsi Market, By Offering
7.3.2.4.2. Rest Of Europe Artificial Intelligence In Bfsi Market, By Solution
7.3.2.4.3. Rest Of Europe Artificial Intelligence In Bfsi Market, By Technology
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, And Opportunities
7.4.2. Market Size And Forecast, By Country
7.4.2.1. Australia
7.4.2.1.1. Australia Artificial Intelligence In Bfsi Market, By Offerings
7.4.2.1.2. Australia Artificial Intelligence In Bfsi Market, By Solution
7.4.2.1.3. Australia Artificial Intelligence In Bfsi Market, By Technology
7.4.2.2. Japan
7.4.2.2.1. Japan Artificial Intelligence In Bfsi Market, By Offerings
7.4.2.2.2. Japan Artificial Intelligence In Bfsi Market, By Solution
7.4.2.2.3. Japan Artificial Intelligence In Bfsi Market, By Technology
7.4.2.3. India
7.4.2.3.1. India Artificial Intelligence In Bfsi Market, By Offerings
7.4.2.3.2. India Artificial Intelligence In Bfsi Market, By Solutions
7.4.2.3.3. India Artificial Intelligence In Bfsi Market, By Technology
7.4.2.4. China
7.4.2.4.1. China Artificial Intelligence In Bfsi Market, By Offerings
7.4.2.4.2. China Artificial Intelligence In Bfsi Market, By Solution
7.4.2.4.3. China Artificial Intelligence In Bfsi Market, By Technology
7.4.2.5. Rest Of Asia-Pacific
7.4.2.5.1. Rest Of Asia-Pacific Artificial Intelligence In Bfsi Market, By Offerings
7.4.2.5.2. Rest Of Asia-Pacific Artificial Intelligence In Bfsi Market, By Solution
7.4.2.5.3. Rest Of Asia-Pacific Artificial Intelligence In Bfsi Market, By Technology
7.5. Lamea
7.5.1. Key Market Trends, Growth Factors, And Opportunities
7.5.2. Market Size And Forecast, By Country
7.5.2.1. Latin America
7.5.2.1.1. Latin America Artificial Intelligence In Bfsi Market, By Offering
7.5.2.1.2. Latin America Artificial Intelligence In Bfsi Market, By Solution
7.5.2.1.3. Latin America Artificial Intelligence In Bfsi Market, By Technology
7.5.2.2. Middle East
7.5.2.2.1. Middle East Artificial Intelligence In Bfsi Market, By Offerings
7.5.2.2.2. Middle East Artificial Intelligence In Bfsi Market, By Solution
7.5.2.2.3. Middle East Artificial Intelligence In Bfsi Market, By Technology
7.5.2.3. Africa
7.5.2.3.1. Africa Artificial Intelligence In Bfsi Market, By Offerings
7.5.2.3.2. Africa Artificial Intelligence In Bfsi Market, By Solution
7.5.2.3.3. Africa Artificial Intelligence In Bfsi Market, By Technology
Chapter 8: Company Profiles
8.1. Microsoft Corporation
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Product Portfolio
8.1.5. Business Performance
8.1.6. Key Strategic Moves And Developments
8.2. International Business Machines Corporation
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Product Portfolio
8.2.5. Business Performance
8.2.6. Key Strategic Moves And Developments
8.3. Oracle Corporation
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Product Portfolio
8.3.5. Business Performance
8.3.6. Key Strategic Moves And Developments
8.4. Sap Se
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Product Portfolio
8.4.5. Business Performance
8.4.6. Key Strategic Moves And Developments
8.5. Baidu, Inc.
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Product Portfolio
8.5.5. Business Performance
8.5.6. Key Strategic Moves And Developments
8.6. Salesforce.Com, Inc.
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Product Portfolio
8.6.5. Business Performance
8.6.6. Key Strategic Moves And Developments
8.7 Intel Corporation
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Product Portfolio
8.7.4. Business Performance
8.8. Alphabet Inc. (Google)
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Product Portfolio
8.8.5. Business Performance
8.7.6. Key Strategic Moves And Developments
8.9. Palantir Technologies Inc.
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Product Portfolio
8.10. Inbenta Technologies Inc.
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Product Portfolio
8.10.5. Key Strategic Moves And Developments
