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In Fintech industry, artificial intelligence (AI) is continuously growing in the global scenario at a significant pace. The report deeply studies the current state of AI in Fintech industry.

The growing demand for digital technology and shifting customer demands have resulted in the increased adoption of artificial intelligence (AI) solutions to manage financial assets and enhance the customer experience. AI solutions are predominantly dependent on machine data that are generated from multiple sources, including data collected from customers and processes. The financial institutions, especially investment banks, have started using AI based analytics solutions to analyze data and identify the correlation & patterns to improve the asset management capability. These technologies are among the prominent solutions to deal with ever-changing financial regulatory & compliance environment to face the associated market risk and understand both income tax & corporate tax laws in an efficient way. AI in financial asset management is also witnessing a strong presence in analyzing consumer behavior patterns to bring new offerings and is finding new distribution channels for the financial institutions that can create a competitive advantage with the use of these technologies. As data-driven financial decision becomes a more prominent factor for increasing profitability, the market is expected to witness increased usage of AI solutions across banks, financial institutions, and insurance firms. Investment banks have been the primary users of the AI technology to improve risk assessment of the customer to optimize portfolios. Furthermore, IoT, cloud technology, edge computing, security-related technology (blockchain), etc. are supporting the market growth. This trend is expected to continue during the forecast period 2019-2025, fueling the market growth at a CAGR of 33.84% to reach revenue of $11.39 billion by 2025.

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