Summary

AI for Financial Services Market
The AI for financial services market was valued at $13.7 billion in 2023 and is projected to reach $123.2 billion by 2032, growing at a CAGR of 27.3% from 2024 to 2032.
AI is playing a transformative role in the performance of financial services, ranging from banking & investment management to insurance & regulatory compliance. The capabilities of AI help in fraud detection, providing personalized recommendations to customers, automation of back-end operations, and offering predictions about credit scores & risk management. Along with improving the operations of financial services, AI algorithms are further improving the banking experience and financial profitability of customers.

Increase in demand for automated solutions to perform the daily routine tasks of financial services and utilize human resources for strategic activities is a key driver of the AI for financial services market. Furthermore, the ability of AI-powered fraud detection systems & predictive risk models to rapidly identify suspicious activities and reduce financial losses augments the development of the market. A notable trend gaining prominence in the market in recent times is the usage of AI for algorithmic and high-frequency trading. AI systems navigate the historical & real-time market data to identify trends, along with executing thousands of trades per second to improve market liquidity & profitability. These systems capitalize on minute market movements and reduce trading costs.

However, the absence of skilled data scientists in several organizations for the management of AI for financial services limits the adoption and restrains the development of the market. Moreover, lack of transparency regarding the decision-making capabilities of AI undermines customer trust and hampers the market growth. On the contrary, exponential surge in investments by different enterprises for the development of their AI infrastructure is poised to open new avenues for the AI for financial services market in coming years. According to the fourth annual State of AI in Financial Services Report by NVIDIA—an American multinational corporation and technology company—approximately 97% of financial services companies aim to increase their expenditure on AI technologies in the near future.
Segment Review
The AI for financial services market is segmented into component, application, and region. On the basis of component, the market is bifurcated into solution and services. Depending on application, it is categorized into fraud detection, virtual assistants, business analytics & reporting, quantitative & asset management, customer behavioral analytics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of component, the solution segment held a high share of the market in 2023.
Depending on application, the customer behavioral analytics segment is expected to dominate the market during the forecast period.
Region wise, Asia-Pacific is projected to be the highest revenue generator by 2032.
Competition Analysis
The major players in the global AI for financial services market include FICO, SAS Institute, IBM Corporation, Microsoft, Google, Salesforce, NVIDIA, Palantir Technologies, TIBCO Software, and Amazon Web Services. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

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● End user preferences and pain points
● Industry life cycle assessment, by region
● Product Benchmarking / Product specification and applications
● Product Life Cycles
● Scenario Analysis & Growth Trend Comparison
● Technology Trend Analysis
● Go To Market Strategy
● Market share analysis of players by products/segments
● New Product Development/ Product Matrix of Key Players
● Pain Point Analysis
● Regulatory Guidelines
● Strategic Recommendations
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Brands Share Analysis
● Criss-cross segment analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● Market share analysis of players at global/region/country level
● SWOT Analysis
Key Market Segments
By Component
● Solution
● Services
By Application
● Fraud Detection
● Virtual Assistants
● Business Analytics and Reporting
● Quantitative and Asset Management
● Customer Behavioral Analytics
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ France
○ Germany
○ Italy
○ Spain
○ UK
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ FICO
○ SAS Institute
○ IBM Corporation
○ Microsoft
○ Google
○ Salesforce
○ NVIDIA
○ Palantir Technologies
○ TIBCO Software
○ Amazon Web Services

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: AI FOR FINANCIAL SERVICES MARKET, BY COMPONENT
4.1. Market Overview
4.1.1 Market Size and Forecast, By Component
4.2. Solution
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.3. Services
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
CHAPTER 5: AI FOR FINANCIAL SERVICES MARKET, BY APPLICATION
5.1. Market Overview
5.1.1 Market Size and Forecast, By Application
5.2. Fraud Detection
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. Virtual Assistants
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. Business Analytics And Reporting
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
5.5. Quantitative And Asset Management
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, By Region
5.5.3. Market Share Analysis, By Country
5.6. Customer Behavioral Analytics
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, By Region
5.6.3. Market Share Analysis, By Country
5.7. Others
5.7.1. Key Market Trends, Growth Factors and Opportunities
5.7.2. Market Size and Forecast, By Region
5.7.3. Market Share Analysis, By Country
CHAPTER 6: AI FOR FINANCIAL SERVICES MARKET, BY REGION
6.1. Market Overview
6.1.1 Market Size and Forecast, By Region
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. Market Size and Forecast, By Component
6.2.3. Market Size and Forecast, By Application
6.2.4. Market Size and Forecast, By Country
6.2.5. U.S. AI for Financial Services Market
6.2.5.1. Market Size and Forecast, By Component
6.2.5.2. Market Size and Forecast, By Application
6.2.6. Canada AI for Financial Services Market
6.2.6.1. Market Size and Forecast, By Component
6.2.6.2. Market Size and Forecast, By Application
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Market Size and Forecast, By Component
6.3.3. Market Size and Forecast, By Application
6.3.4. Market Size and Forecast, By Country
6.3.5. France AI for Financial Services Market
6.3.5.1. Market Size and Forecast, By Component
6.3.5.2. Market Size and Forecast, By Application
6.3.6. Germany AI for Financial Services Market
6.3.6.1. Market Size and Forecast, By Component
6.3.6.2. Market Size and Forecast, By Application
6.3.7. Italy AI for Financial Services Market
6.3.7.1. Market Size and Forecast, By Component
6.3.7.2. Market Size and Forecast, By Application
6.3.8. Spain AI for Financial Services Market
6.3.8.1. Market Size and Forecast, By Component
6.3.8.2. Market Size and Forecast, By Application
6.3.9. UK AI for Financial Services Market
6.3.9.1. Market Size and Forecast, By Component
6.3.9.2. Market Size and Forecast, By Application
6.3.10. Rest Of Europe AI for Financial Services Market
6.3.10.1. Market Size and Forecast, By Component
6.3.10.2. Market Size and Forecast, By Application
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Market Size and Forecast, By Component
6.4.3. Market Size and Forecast, By Application
6.4.4. Market Size and Forecast, By Country
6.4.5. China AI for Financial Services Market
6.4.5.1. Market Size and Forecast, By Component
6.4.5.2. Market Size and Forecast, By Application
6.4.6. Japan AI for Financial Services Market
6.4.6.1. Market Size and Forecast, By Component
6.4.6.2. Market Size and Forecast, By Application
6.4.7. India AI for Financial Services Market
6.4.7.1. Market Size and Forecast, By Component
6.4.7.2. Market Size and Forecast, By Application
6.4.8. South Korea AI for Financial Services Market
6.4.8.1. Market Size and Forecast, By Component
6.4.8.2. Market Size and Forecast, By Application
6.4.9. Australia AI for Financial Services Market
6.4.9.1. Market Size and Forecast, By Component
6.4.9.2. Market Size and Forecast, By Application
6.4.10. Rest of Asia-Pacific AI for Financial Services Market
6.4.10.1. Market Size and Forecast, By Component
6.4.10.2. Market Size and Forecast, By Application
6.5. LAMEA
6.5.1. Key Market Trends and Opportunities
6.5.2. Market Size and Forecast, By Component
6.5.3. Market Size and Forecast, By Application
6.5.4. Market Size and Forecast, By Country
6.5.5. Latin America AI for Financial Services Market
6.5.5.1. Market Size and Forecast, By Component
6.5.5.2. Market Size and Forecast, By Application
6.5.6. Middle East AI for Financial Services Market
6.5.6.1. Market Size and Forecast, By Component
6.5.6.2. Market Size and Forecast, By Application
6.5.7. Africa AI for Financial Services Market
6.5.7.1. Market Size and Forecast, By Component
6.5.7.2. Market Size and Forecast, By Application
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping Of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023
CHAPTER 8: COMPANY PROFILES
8.1. FICO
8.1.1. Company Overview
8.1.2. Key Executives
8.1.3. Company Snapshot
8.1.4. Operating Business Segments
8.1.5. Product Portfolio
8.1.6. Business Performance
8.1.7. Key Strategic Moves and Developments
8.2. SAS Institute
8.2.1. Company Overview
8.2.2. Key Executives
8.2.3. Company Snapshot
8.2.4. Operating Business Segments
8.2.5. Product Portfolio
8.2.6. Business Performance
8.2.7. Key Strategic Moves and Developments
8.3. IBM Corporation
8.3.1. Company Overview
8.3.2. Key Executives
8.3.3. Company Snapshot
8.3.4. Operating Business Segments
8.3.5. Product Portfolio
8.3.6. Business Performance
8.3.7. Key Strategic Moves and Developments
8.4. Microsoft
8.4.1. Company Overview
8.4.2. Key Executives
8.4.3. Company Snapshot
8.4.4. Operating Business Segments
8.4.5. Product Portfolio
8.4.6. Business Performance
8.4.7. Key Strategic Moves and Developments
8.5. Google
8.5.1. Company Overview
8.5.2. Key Executives
8.5.3. Company Snapshot
8.5.4. Operating Business Segments
8.5.5. Product Portfolio
8.5.6. Business Performance
8.5.7. Key Strategic Moves and Developments
8.6. Salesforce
8.6.1. Company Overview
8.6.2. Key Executives
8.6.3. Company Snapshot
8.6.4. Operating Business Segments
8.6.5. Product Portfolio
8.6.6. Business Performance
8.6.7. Key Strategic Moves and Developments
8.7. NVIDIA
8.7.1. Company Overview
8.7.2. Key Executives
8.7.3. Company Snapshot
8.7.4. Operating Business Segments
8.7.5. Product Portfolio
8.7.6. Business Performance
8.7.7. Key Strategic Moves and Developments
8.8. Palantir Technologies
8.8.1. Company Overview
8.8.2. Key Executives
8.8.3. Company Snapshot
8.8.4. Operating Business Segments
8.8.5. Product Portfolio
8.8.6. Business Performance
8.8.7. Key Strategic Moves and Developments
8.9. TIBCO Software
8.9.1. Company Overview
8.9.2. Key Executives
8.9.3. Company Snapshot
8.9.4. Operating Business Segments
8.9.5. Product Portfolio
8.9.6. Business Performance
8.9.7. Key Strategic Moves and Developments
8.10. Amazon Web Services
8.10.1. Company Overview
8.10.2. Key Executives
8.10.3. Company Snapshot
8.10.4. Operating Business Segments
8.10.5. Product Portfolio
8.10.6. Business Performance
8.10.7. Key Strategic Moves and Developments