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Rise in capital venture investment in artificial intelligence (AI) companies

VANCOUVER, BC, CANADA, March 8, 2022 /EINPresswire.com/ -- The market intelligence study AI in Banking weighs upon its global standing in the forecast period from 2021 to 2028.  The study employs both primary and secondary research techniques to assess, interpret, segment as well as forecast the total revenue generated by the industry across different regions. To determine the size, share and development rate of the business, the research determines the performance across different product categories and geography. The study further offers detailed statistical analysis regarding key factors including the drivers, opportunities, challenges and restraints that have a substantial effect on the progress of the AI in Banking market.

artificial intelligence (AI) in Banking market is expected to reach a market size of USD 130.00 Billion by 2027 and register a high revenue CAGR, according to latest analysis by Emergen Research. A key driving factor includes growing demand for advanced tools to enhance customer experience in the banking sector. Increasing demand for solutions to simplify banking operations is expected to further fuel growth of the global artificial intelligence (AI) market growth during the forecast period. Rising capital venture investment in artificial intelligence (AI) companies is also expected to propel global AI in banking market growth.

The high cost of artificial intelligence-driven solutions is expected to hamper growth of the global artificial intelligence (AI) in banking market to a certain extent during the forecast period.

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This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included some of the top performers in the sector to calculate their industry shares as well as core competencies. The research explains the technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments. The study further analyzes competitive developments including but not restricted to collaborations, joint ventures, investments, acquisitions and mergers.

Top Companies Operating in the AI in Banking Market and Profiled in the Report are:

Amazon Web Services Inc., Microsoft Corporation, Google LLC, Intel Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, Baidu, Inc., Comply Advantage Ltd, and Interactions LLC.

Regional analysis of the AI in Banking market includes analysis of the production and consumption ratio, supply and demand dynamics, regional trends and growth drivers, growth prospects, presence of key manufacturers and vendors, and market size and share in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The report further offers key insights into country wise analysis and major factors driving revenue growth of each regional market.

Key Highlights of Report

Due to increasing implementation of AI-driven applications in the banks, including customer relationship management (CRM), data analytics & visualization, and chatbot to enhance customer experience and back-office activities, the software segment is projected to register a significant revenue CAGR of 43.1% during the forecast period.

In terms of market share, the deep learning & machine learning segment is expected to lead among the other technology segments in the global AI in the banking market during the forecast period due to growing adoption of deep learning & machine learning approach for risk assessment in banks.

Increasing need to optimize customer engagement by introducing AI-driven virtual assistance and provide 24/7 customer services and answer customer queries and grievances is expected to contribute to revenue growth of the customer service segment in the global AI in the banking market during the forecast period.

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The research weighs upon various problems and solutions related to the import and export status, supply chain management, channel distribution, demand and supply and gross margin that often bother expansive as well as new entrants A thorough analysis of market players dominating the AI in Banking market and their winning strategies to remain competitive and ahead in the market adds granularity to the intelligence report. The definitive study explores the recent events in the industry from acquisition and mergers, product launches, technology innovation and product pipeline to underline the future potential or prospects of the business.

Emergen Research has segmented the global AI in banking market on the basis of component, technology, application, solution, and region.

Component Outlook (Revenue, USD Billion; 2020–2027)

Service

Hardware

Software

Technology Outlook (Revenue, USD Billion; 2020–2027)

Natural Language Processing

Deep Learning & Machine Learning

Computer Vision

Others

Application Outlook (Revenue, USD Billion; 2020–2027)

Customer Service

Back Office

Financial Advisory

Compliance & Security

Risk Management

Others

Solution Outlook (Revenue, USD Billion; 2020–2027)

Customer Behavior Analytics

Data Analytics & Visualization

Fraud Detection

Customer Relationship Management

Chatbot

Others

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The study relies heavily on both qualitative and quantitative to generate, interpret and analyze raw data about the target market, product or services offered and prominent market players operating in the AI in Banking market for the forecast period, The new intelligence study further digs deep to extract all data pertaining to aspects such as production capability, spending power, customer preference and potential customers to offer usable business information. This report can be considered as a cautious assessment of the target customers, their requirements, geography generating maximum sales and potential distribution channel.

Key Benefits of Buying the Global AI in Banking Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global AI in Banking Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global AI in Banking Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global AI in Banking Market

Thank you for reading our report. The report can be customized as per requirement. Please get in touch with us for further inquiry and we will ensure you get the report best suited for your needs.

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