Generative Artificial Intelligence (AI) In Financial Services Market Growth and Trends: Key Insights into Market Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Generative Artificial Intelligence (AI) In Financial Services Market?
Increasing financial fraud is expected to strengthen generative AI in financial services. Fraud tactics are becoming more advanced due to the rise of digital platforms. Generative AI aids by generating synthetic datasets for training fraud detection models. In February 2024, the Federal Trade Commission reported $10.0 billion in fraud losses, $1.2 billion more than in 2022. The need for better fraud prevention tools is boosting AI adoption in financial services.
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How Will the Growth Rate of theGenerative Artificial Intelligence (AI) In Financial Services Market Impact Industry Trends by 2034?
The generative AI in financial services market size will grow from $1.44 billion in 2024 to $1.89 billion in 2025, with a CAGR of 31.2%. The historic growth is driven by the rising digital transformation, increasing data availability, demand for personalized services, operational efficiency, and more investments in technology.
The generative AI in financial services market size is expected to grow to $5.54 billion in 2029 at a CAGR of 30.8%. Growth factors include fraud detection, enhanced reporting, financial services globalization, fintech collaboration, and rising AI literacy. Major trends include collaborative AI solutions, personalized financial products, AI-driven investment strategies, and blockchain integration.
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What Are the Key Market Innovations in theGenerative Artificial Intelligence (AI) In Financial Services Market Over the Coming Years?
In the financial services market, companies are focusing on generative AI tools that can automate complex tasks and produce highly accurate outputs in real-time. Hapax, a financial service startup based in the US, introduced a generative AI tool in April 2024 aimed at improving decision-making capabilities for banks, particularly smaller ones. This tool simplifies access to industry-specific knowledge and provides cost-effective solutions for efficient operations and compliance.
Who Are the Top Companies Driving Innovation and Growth in theGenerative Artificial Intelligence (AI) In Financial Services Market?
Major companies operating in the generative artificial intelligence (AI) in financial services market are Google LLC, Microsoft Corporation, JPMorgan Chase & Co., Amazon Web Services Inc., Wells Fargo, Citigroup Inc., Intel Corporation, IBM Corporation, American Express Banking Corp., Morgan Stanley, Goldman Sachs, Salesforce Inc., Fidelity Investments, Capgemini, Mastercard International Inc., Charles Schwab Corp., Cognizant, Infosys Ltd., HSBC Holdings Plc, Broadridge Financial Solutions Inc., Zeta Global, Simform Solutions, Narrative Science, Miquido, Zapata Computing Inc.
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Which Key Market Segments Comprise the Generative Artificial Intelligence (AI) In Financial Services Market and Drive Its Revenue Growth?
The generative artificial intelligence (AI) in financial services market covered in this report is segmented –
1) By Type: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Application: Credit Scoring, Fraud Detection, Risk Management, Forecasting And Reporting, Other Applications
Subsegments:
1) By Solutions: Fraud Detection And Prevention Solutions, Risk Assessment And Management Tools, Algorithmic Trading Systems, Customer Analytics And Insights Platforms, Automated Reporting And Compliance Solutions, Personalized Financial Advisory Tools, Chatbots For Customer Support
2) By Services: Consulting Services For AI Implementation, Integration Services For Existing Systems, Training And Development For Staff, Ongoing Support And Maintenance Services, Data Management And Analytics Services, Custom AI Model Development Services.
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Which Regions Are Emerging as Leaders in the Generative Artificial Intelligence (AI) In Financial Services Market?
North America was the largest region in the generative artificial intelligence (AI) in financial services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence (AI) in financial services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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