Why is Integration of AI Surging in Fintech?

The deployment segment of the AI in fintech market is bifurcated into cloud and on-premises. Under this segment, the cloud category accounted for the larger market share in 2020, because the cloud environment enables AI to learn from historical data, make suggestions, and detect current norms. AI and cloud can together deliver improved digital security, increased productivity, and excellent efficiency in terms of information handling and accuracy.

Owing to these advantages, AI-enabled cloud solutions help avoid human errors during data analysis. In the recent past, North America was the largest user of AI-enabled fintech solutions, due to the presence of developed IT infrastructure and high fintech adoption rate in the region. Additionally, the mounting investments being made in the fintech sector and increasing penetration of 5G technology will also fuel the integration of AI solutions in the fintech sector.

Besides, the mounting focus of the U.S. federal government on encouraging the incorporation of AI technology in the financial and security industries will also contribute to the digital transformation of these sectors. Whereas, the APAC AI in fintech market is expected to display the fastest growth during the forecast years (2021–2030).

This will be on account of the increasing number of government initiatives regarding the adoption of AI and IoT technologies across industries, flourishing economy, and surging demand for latest technologies in the region. Moreover, the heavy investments being made in the development of IT infrastructure will also facilitate the market growth in the region.

Therefore, the soaring focus of financial institutions on process automation and the rising availability of innovative payment platforms will encourage the adoption of AI-enabled fintech solutions globally.

Comments

Increasing Internet Penetration Fueling Demand for Product Analytics

With the increasing penetration of the internet in both developing countries such as China and India and developed countries such as Singapore and the U.S., the worldwide demand for product analytics is rising rapidly. For example, according to the Office for National Statistics, in 2018, 90% of all households in Great Britain had access to the internet. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/product-analytics-market/report-sample Additionally, the total percentage of adults who used the internet daily grew from 35% to 86% from 2006 to 2018 in the country. The rapid digital transformation in various countries is pushing up the requirement for product analytics solutions. Moreover, businesses all over the world are increasingly adopting advanced technologies such as product analytics for building a holistic understanding and delivering greater customer engagement. Apart from this, rapid advancements and innovations being made in various cog

Conversational AI Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

There are two ways in which conversational AI solutions are deployed, namely cloud and on-premises. Of these, the conversational AI solutions deployed through cloud recorded higher demand in 2018, and this deployment method is expected to remain more popular in the coming years. This is primarily attributed to the ballooning demand for scalability and easier maintenance features and 24*7 services offered by these solutions. Furthermore, many major companies are adopting cloud-based solutions for increasing their operational flexibility and reducing their operational costs. Coherent with these facts, the biggest phenomenon currently being observed in the conversational AI market is the mushrooming implementation of chatbots, as well as IVA, in various healthcare applications. Geographically, the highest demand for conversational AI market share has been witnessed in North America in the last few years, and the next few years will witness a similar situation. For instance, a Mahara

Battery Management System Market Size, Status, Top Players, Trends in Upcoming Years

The International Energy Association (IEA) predicts that the sale of battery electric vehicles (BEV) (trucks) and plug-in hybrid electric vehicles (PHEV) (trucks) will reach around 96,555 units and 107,571 units, respectively, by 2025. The organization also forecasts that the global stock of BEV cars and PHEV cars will reach 29,626,576 units and 16,335,941 units, respectively, by 2025. The surging electric vehicle (EV) sales will create an extensive requirement for battery management systems (BMSs) in the coming years, as batteries are the most important component of such vehicles. Besides, the surging use of rechargeable batteries in consumer electronic products is expected to drive the battery management system market at a vigorous CAGR of 15.0% during the forecast period (2021–2030). The market revenue is expected to surge from $5,661.0 million in 2020 to $22,279.6 million by 2030. BMSs are installed in consumer electronics to control the operation of batteries and manage recharg

News Market Insights

Search This Blog