According to the research report titled ‘Global Artificial Intelligence (AI) in Fintech Market Analysis, 2020’, available with Market Study Report, global artificial intelligence (AI) in fintech market is projected to accrue massive returns, registering a CAGR of 44% during 2020-2025.
 

Increasing demand for personalization of payment and lending in the BFSI (banking, financial services and insurance) sector and process automation among various banking and financial organizations, along with varying business scenario and customer requirement for real time information are the key factors driving the growth of global artificial intelligence (AI) in fintech market.
 

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Notably, artificial intelligence (AI) assist the fintech firms in resolving human problems with the help of methods derived from aspects of human intelligence beyond human scale. Artificial Intelligence (AI) has majorly impacted the financial sector in the recent past, contributing in fraud detection, customer segmentation, credit scoring, etc.
 

The global artificial intelligence (AI) in fintech market research report accentuates the predominant trends and the driving forces propelling industry expansion. It also evaluates the past and present market scenario to predict the market growth rate, while highlighting the geographical segmentation and competitive landscape.
 

Going further with the research, the document assesses this business domain by elaborating on the various market segments such as component, deployment type, application spectrum, and end user scope.
 

Based on component type, global artificial intelligence (AI) in fintech market is segmented into platforms, (including managed, professional, and services) and solution (which is further divided into data visualization, data quality & data governance, data discovery, and software tools).

As per deployment type, the industry is split into cloud and on-premise. With respect to application spectrum, the market is classified into business analytics & reporting (which is further classified into predictive analytics and regulatory and compliance management), virtual assistants (chatbots), customer behavioral analytics (including insurance premium, debt collection, asset and portfolio management, and credit scoring), and others.
 

Among these, global artificial intelligence (AI) in fintech market share from virtual assistants (chatbots) segment has accrued high profits in the recent past, owing to increasing incorporation of several end-user industries like banks to help client queries and offer them service support at a low cost, saving time and money both. In addition, in the coming years, most financial corporations are also preparing to implement the chatbot service in order to conduct various internal and external communications activities.
 

Due to the growing incorporation of advanced technologies such as AI credit scoring to achieve greater precision and more financial transparency, the adoption of the credit-scoring model among the verticals is increasing.
 

Considering the end user scope, worldwide artificial intelligence (AI) in fintech market is categorized into investment banking, retail banking, hedge funds, stock trading firms, and other.
 

Major companies influencing global artificial intelligence (AI) in fintech market trends are TIBCO Software, Active.Ai (Active Intelligence Pte Ltd.), Onfido, Microsoft Corporation, Next It Corp., Ipsoft Global Services, Samsung Group, Amazon Web Services, Salesforce.Com, Complyadvantage.Com, Nuance Communications, Inbenta Technologies Inc., Intel Corporation, IBM Corporation, and Google LLC.