The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The AI in banking market has experienced significant growth, increasing from $9 billion in 2023 to $11.93 billion in 2024, with a CAGR of 32.5%. This growth is driven by data proliferation, enhanced fraud detection, improved customer service, cost reduction through automation, and competitive pressures. By 2028, the market is projected to reach $37.15 billion, growing at a CAGR of 32.8%. Growth drivers include AI in credit scoring, chatbots for multichannel support, AI-driven wealth management, open banking initiatives, and explainable AI for transparency. Trends include voice and chatbot interfaces, predictive analytics for personalized services, regulatory compliance through AI, blockchain integration, and the rise of robo-advisors.

The increasing demand for mobile banking services is expected to propel the growth of AI in banking market going forward. Mobile banking is a service offered by a bank or other financial institution that enables its customers to carry out financial transactions remotely using a mobile device such as a smartphone or tablet. Using a mobile smartphone and mobile banking applications, one may access financial accounts and carry out financial transactions at any time and from any location. The increasing demand for mobile banking services is driving the adoption of AI in banking, and this trend is expected to continue in the future. For instance, in March 2021, according to ACI Worldwide Inc., a US-based payment systems company, in 2020, there were 102.7 billion mobile wallet transactions. By 2025, that number is predicted to rise to 2,582.8 billion. Therefore, the increasing demand for mobile banking services is driving the growth of the AI in banking market going forward. The market size for AI in banking reflects the rapid adoption of mobile banking services and the subsequent integration of AI technologies into banking systems.

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What Are The Key Trends That Influence AI In Banking Global Market Report 2024 Market Share Analysis?

Technological advancements are a key trend gaining popularity in the AI in banking market. Companies operating in the AI in banking market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Jordan Ahli Bank, a Jordan-based financial services company, launched an AI system technology named ahliGPT. Customers who have questions or issues with banking and financial services may quickly and accurately obtain answers through ahliGPT, saving both bank customers and personnel time and effort.

Which Market Players Are Driving Growth In The AI In Banking Global Market Report 2024 Market?

Major companies operating in the market are Google LLC, Intel Corporation, Hewlett Packard Enterprise Development LP, Accenture plc, International Business Machines Corporation., Cisco Systems Inc., Oracle Corporation, SAP SE, Asea Brown Boveri Ltd, Infosys Limited, BSH Hausgeräte GmbH, Ally Financial Inc., Fair Isaac Corporation, Harman International Industries, SAS Institute Inc., International Business Machines Corporation, IPsoft Inc., Nuance Communications, Inc., HighRadius Corporation, Vectra AI, Inc., Amazon Web Services Inc., Kreditech Holding SSL GmbH, Kensho Technologies, Inc., Hanson Robotics Limited, RapidMiner Inc., Blue Frog Robotics, BigML Inc., FANUC Corporation , Lingxi Technology Co. Ltd.

How Is The Global AI In Banking Global Market Report 2024 Market Segmented?

The AI in banking market covered in this report is segmented –

1) By Component: Solution, Service
2) By Technology: Machine Learning And Deep Learning, Natural Language Processing (NLP), Computer Vision, Other Technologies
3) By Organization Size: Small And Medium Sized Banks, Large Overseas Banks
4) By Application: Risk Management Compliance And Security, Customer Service, Back Office or Operations, Financial Advisory, Other Applications

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The AI In Banking Global Market Report 2024 Global Market Report 2024 provides an overview of the ai in banking global market report 2024market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ai in banking global market report 2024 market forecast analyzes ai in banking global market report 2024 market size, ai in banking global market report 2024 market share, leading competitor and their market positions.

The Table Of Content For The AI In Banking Global Market Report 2024 Market Include

1. AI In Banking Global Market Report 2024 Market Executive Summary
2. AI In Banking Global Market Report 2024 Market Segments
3. AI In Banking Global Market Report 2024 Market Size And Template Market Growth Rate
4.  Key AI In Banking Global Market Report 2024 Market Trends
5. Major AI In Banking Global Market Report 2024 Market Drivers
……
25. Key Mergers And Acquisitions In The AI In Banking Global Market Report 2024 Market
26. Top AI In Banking Global Market Report 2024 Companies
27. AI In Banking Global Market Report 2024 Market Opportunities And Strategies
28. AI In Banking Global Market Report 2024 Market, Conclusions And Recommendations
29. Appendix

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