Browse key industry insights spread across 320 pages with 200 market data tables & 25 figures & charts from the report,“ Artificial Intelligence( AI) in BFSI Market Size By Component( Solution [ Chatbot, Customer Behavior Analytics, Customer Relationship Management( CRM), Data Analytics & Visualization, Fraud Detection ], Service [ Professional Service, Managed Service ]), By Technology( Machine Learning, Natural Language Processing( NLP), Computer Vision), By Application( Back Office / Operation, Customer Service, Financial Advisory, Risk Management, Compliance & Security), By End-Use( Bank, Insurance, Wealth Management), Industry Analysis Report, Regional Outlook( U. S., Canada, UK, Germany, France, Spain, Sweden, Switzerland, Australia, China, India, Japan, South Korea, Singapore, Brazil, Mexico, UAE, Israel, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018- 2024” in detail along with the table of contents:
https:// www. gminsights. com / industry-analysis / artificial-intelligence-ai-in-bfsi-market
Europe held more than 20 % share in AI in BFSI market. The investments by the tech giants in the region support the market growth. For instance, Amazon Web Services( AWS) invested approximately USD 2.3 million in Max Planck Institute for Intelligent Systems, a Germany-based AI research center for the development of AI and robotics technology. Similarly, in 2016, Google announced the establishment of a new research and development facility in Zurich, Germany.
Asia Pacific AI in BFSI market is estimated to grow at a CAGR of over 40 %. The growth is owing to the rising venture capital investments in AI and fintech. China is leading the investment landscape in Asia Pacific with more than USD 8.0 investment in the fintech sector in 2016. Furthermore, the country also accounts for more than 11 % share in the global AI investments in 2016. Similarly, India also accounts for significant investments in the AI and fintech sectors.
AI in BFSI market is highly competitive due to the presence of both multinational companies and start-ups. The players are constantly innovating and developing advanced products to cater to the growing customer demand. The prominent vendors of the AI solution in BFSI sector are Microsoft, Google, Intel, IBM, AWS, Salesforce, Oracle, SAP, Palantir, IPsoft, Inbenta, Lexalytics, Interaction, and Next IT. The multinational companies, such as AWS, Google, and Microsoft, account for the majority of the share in the market. However, some start-ups, such as Inbenta, Lexalytics, and Interactions, also play a vital role in the overall market.
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