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How big is the generative artificial intelligence (ai) in finance market today, and what are its future growth expectations?
The generative artificial intelligence (AI) in finance market size has grown exponentially in recent years. It will grow from $2.05 billion in 2024 to $2.83 billion in 2025 at a compound annual growth rate (CAGR) of 38.3%. The growth in the historic period can be attributed to digitalization of services, rise in personalized customer responses, rising need for enhancing security and trust in financial services, data privacy and security concerns, and regulatory compliance and governance.
The generative artificial intelligence (AI) in finance market size is expected to see exponential growth in the next few years. It will grow to $10.29 billion in 2029 at a compound annual growth rate (CAGR) of 38.1%. The growth in the forecast period can be attributed to increasing productivity, the application of generative artificial intelligence (AI) in fraud detection and prevention, automation of complex financial tasks through advanced generative artificial intelligence (AI), enhancing customer experience in finance, and operational efficiency and reducing costs. Major trends in the forecast period include developing innovative solutions, data analysis and reporting, artificial intelligence (AI)-driven chatbots, integrating machine learning (ML), and innovations in artificial intelligence tools.
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What have been the primary factors driving the generative artificial intelligence (ai) in finance market’s growth?
The demand for personalized financial services is expected to drive the growth of generative artificial intelligence (AI) in the finance market going forward. Personalized financial services refer to customized financial solutions and advice tailored to individual clients’ specific needs, preferences, and circumstances. The demand for personalized financial services is due to consumer expectations, a desire for better financial management, and enhanced risk management. Generative AI integrates data from various sources, such as social media, transactions on histories, and financial accounts, to offer a more comprehensive and personalized view of a client’s financial landscape. For instance, in May 2024, according to a survey among 150 financial services industry leaders and decision-makers in the U.S. and Canada by MX Technologies, a US-based company that offers insights into the financial industry, reported that the majority (81%) of data strategy leaders believe that personalizing experiences based on consumer financial data is essential for the future. Also, 45% of consumers felt that their experiences with finance-related mobile apps were personalized for them. Additionally, 36% of consumers prefer securely sharing their financial data from all their accounts to receive personalized guidance and insights in a single location. Therefore, the demand for personalized financial services drives the generative artificial intelligence (AI) in the finance market.
What are the key segments within the generative artificial intelligence (ai) in finance market?
The generative artificial intelligence (AI) in finance market covered in this report is segmented –
1) By Technology: Deep Learning Technology; Natural Language Processing Technology; Computer Vision Technology; Reinforcement Learning Technology; Other Technologies
2) By Deployment Model: Cloud Deployment; On-Premises Deployment; Hybrid Deployment
3) By Application: Risk Management; Fraud Detection; Investment Research; Trading Algorithms; Other Applications
Subsegments:
1) By Deep Learning Technology: Fraud Detection And Prevention; Algorithmic Trading; Credit Scoring And Risk Assessment; Predictive Analytics For Investment
2) By Natural Language Processing (NLP) Technology: Sentiment Analysis For Financial Markets; Chatbots And Virtual Assistants; Document And Contract Analysis; Speech Recognition For Customer Service
3) By Computer Vision Technology: Image-Based Fraud Detection; Visual Data Extraction From Documents; Video Analytics For Security And Surveillance; Automated Financial Document Processing
4) By Reinforcement Learning Technology: Portfolio Management And Optimization; Trading Strategy Development; Risk Management In Trading; Personalized Financial Advisory Services
5) By Other Technologies: Hybrid AI Models (Combination Of Multiple AI Techniques); AI For Blockchain And Cryptocurrency Analysis; AI-Based Financial Data Analytics Platforms
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Which key players are shaping the generative artificial intelligence (ai) in finance market?
Major companies operating in the generative artificial intelligence (AI) in finance market areAlphabet Inc., International Business Machines Corporation, The Allstate Corporation, The Goldman Sachs Group Inc., Mastercard Incorporated, Intuit Inc., S&P Global Inc., Plaid Inc., SAS Institute Inc., Klarna Inc., Qlik Technologies Inc., C3.ai Inc., AlphaSense Inc., Marqeta Inc., Upstart Holdings Inc., Hugging Face Inc., ZestFinance Inc., TrueLayer Limited, Featurespace Limited, Numerai Inc.
How will emerging trends drive the generative artificial intelligence (ai) in finance market throughout the forecast period?
Major companies operating in the generative artificial intelligence (AI) in finance market are focused on developing innovative solutions, such as responsible generative AI, to empower banks to enhance productivity and profitability while ensuring responsible AI practices. Responsible generative AI solutions are designed to enable AI technologies’ safe and ethical deployment, particularly in high-stakes domains. For instance, in May 2024, Temenos AG, a Switzerland-based software company, launched the first Responsible Generative AI solutions tailored for the core banking and financial sector. The generative AI capabilities can be utilized in customer operations and product development, enabling banks to create real-time products based on customer preferences. Temenos Generative AI allows users to perform natural language queries to quickly generate unique insights and reports, dramatically speeding up access to critical data for business stakeholders. For instance, it provides immediate and accessible responses about the most profitable customers based on type and demographics.
How do regional factors impact the generative artificial intelligence (ai) in finance market, and which region is the largest contributor?
North America was the largest region in the generative artificial intelligence (AI) in finance market in 2024.Asia-Pacific is expected to be the fastest growing region in the market going forward. The regions covered in the generative artificial intelligence (AI) in finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Generative Artificial Intelligence (AI) In Finance Market Report 2025 Offer?
The generative artificial intelligence (ai) in finance market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Generative artificial intelligence (AI) in finance refers to AI systems that use advanced algorithms and machine learning techniques to generate new data, insights, or financial models. These systems create synthetic financial data, simulate market scenarios, develop trading strategies, or generate predictive analytics. Generative artificial intelligence (AI) in finance enhances decision-making, optimizes investment strategies, and improves risk management by leveraging AI’s ability to process and analyze vast amounts of financial information and generate innovative solutions.
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