Fintech PR
AI in Finance Market worth $190.33 billion by 2030- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 28, 2024 /PRNewswire/ — The AI in Finance Market is expected to reach USD 190.33 billion by 2030 from USD 38.36 billion in 2024, at a CAGR of 30.6% during 2024–2030, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “AI in Finance Market”
320 – Tables
65 – Figures
365 – Pages
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Scope of the Report
Report Metrics |
Details |
Market size available for years |
2019-2030 |
Base year considered |
2023 |
Forecast period |
2024-2030 |
Forecast units |
(USD billion) |
Segments Covered |
Product type, Technology, Application, End user, and Region |
Geographics covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Companies covered |
Major vendors in the global AI in Finance Market are FIS (US), Fiserv (US), Google (US), Microsoft (US), Zoho (India), IBM (US), Socure (US), Workiva (US), Plaid (US), SAS (US), C3 AI (US), HighRadius (US), AWS (US), SAP (Germany), HPE (US), Oracle (US), Intel (US), NVIDIA (US), Salesforce (US), DataRobot (US), Enova International (US), AlphaSense (US), NetApp (US), Ocrolus (US), Vectra AI (US), Teradata (US), Pega (US), Vena Insights (US), Affirm (US), Symphony AI (US), Envestnet Yodlee (US), Addepto (Poland), Deeper Insights (UK), H2O.ai (US), App0 (US), Underwrite.ai (US), Deepgram (US), Emagia (US), InData Labs (US), Zest AI (US), Scienaptic AI (US), Gradient AI (US), Kasisto (US), Trumid (US), DataVisor (US), Kavout (US), WealthBlock (US). |
AI-driven chatbots and virtual assistants are significant growth drivers in the AI in Finance Market, enhancing customer service by delivering 24/7 support and personalized user interactions. AI-enabled technologies streamline routine tasks like account management or transaction tracking, freeing up human advisors for complex cases. By enabling users to make financial decisions, this accessibility broadens the services offered to end clients. Machine learning models enhance strategic planning and investment decisions by delivering accurate forecasts based on vast, real-time data analysis. Its capacity to change and improve over time guarantees consistently improved tactics, increasing decision-making. These models identify trends, predict market movements, and assess risks, enabling financial institutions to optimize portfolios and allocate resources effectively.
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AI automates tasks, reducing operational costs, boosting efficiency, and enabling financial institutions to pursue strategic innovations.
The AI in Finance Market is projected to grow from USD 38.36 billion in 2024 to USD 190.33 billion by 2030, at a compound annual growth rate (CAGR) of 30.6% during the forecast period. AI is transforming the finance industry by automating repetitive tasks, boosting productivity, and lowering operating expenses. By handling processes like data entry and invoice processing, AI enables financial institutions to redirect human resources toward strategic innovations. This shift streamlines operations and improves accuracy and decision-making, allowing firms to respond more effectively to market dynamics and customer needs, driving growth and competitive advantage in the industry.
By Product type, the chatbots and virtual assistants segment will contribute the highest market share during the forecast period.
Chatbots and virtual assistants are in demand in the AI-driven finance market due to their ability to automate customer service, enhance user experience, and reduce operational costs. Companies like Fiserv, HighRadius, and Envestnet Yodlee leverage these technologies to streamline tasks such as account management, payment processing, and financial planning. Chatbots respond instantly to common queries, while virtual assistants offer personalized financial insights, making services more accessible. These tools improve efficiency by reducing the number of human agents needed for more complex tasks, which leads to higher customer satisfaction and retention.
Finance as business operation: “By Application, fraud detection and prevention segment will contribute to have highest market share during the forecast period.
Financial institutions are investing in AI solutions capable of real-time anomaly detection and transaction pattern analysis, essential for identifying and preventing fraudulent activities. Traditional security measures often fall short against evolving threats, making AI an indispensable tool for enhancing security protocols. By leveraging advanced algorithms and machine learning, these institutions can proactively address potential fraud before it leads to significant losses, thereby prioritizing customer trust and safety in their operations. The integration of AI improves the effectiveness of fraud detection and streamlines overall risk management processes within the financial sector.
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Finance as business function: “By end user, retail & ecommerce will register the highest market share during the forecast period.
Due to several key factors, retail and e-commerce are poised to hold the largest market share in the AI in Finance Market. Personalization is a major driver, with AI analyzing customer data to create tailored recommendations, boosting sales by 10-30% according to a NVDIA’s 2024 survey. Additionally, AI enhances operational efficiency by improving inventory accuracy by up to 30%, minimizing overstock and understock risks. Customer satisfaction also rises through AI-powered chatbots and virtual assistants, which provide 24/7 support, resulting in a 20-30% increase in satisfaction scores. Furthermore, AI automation leads to up to 30% operational cost reductions, allowing organizations to reallocate resources and invest in innovative solutions. These elements collectively position retail and e-commerce at the forefront of AI adoption for financial applications.
By region, Asia Pacific to register the highest CAGR market during the forecast period.
Rapid digital transformation across economies and the rise of fintech startups are driving AI solutions in Asia Pacific. Countries like China and India are investing heavily in AI technologies to enhance financial services and improve customer experiences. The region’s vast consumer base presents major customized financial products and services opportunities. Regulatory bodies such as Monetary Authority of Singapore (MAS) and Cyberspace Administration of China (CAC) promote innovation and further boost market growth. The increasing focus on data-driven decision-making and the need for efficient risk management solutions also contribute to the rapid adoption of AI in finance, positioning Asia-Pacific as a leader in this sector.
Top Key Companies in AI in Finance Market:
Some major players in the AI in Finance Market include FIS (US), Fiserv (US), Google (US), Microsoft (US), Zoho (India), IBM (US), Socure (US), Workiva (US), Plaid (US), SAS (US), C3 AI (US), HighRadius (US), AWS (US), SAP (Germany), HPE (US), Oracle (US), Intel (US), NVIDIA (US), Salesforce (US), DataRobot (US), Enova International (US), AlphaSense (US), NetApp (US), Ocrolus (US), Vectra AI (US), Teradata (US), Pega (US), Vena Insights (US), Affirm (US), Symphony AI (US), Envestnet Yodlee (US), Addepto (Poland), Deeper Insights (UK), H2O.ai (US), App0 (US), Underwrite.ai (US), Deepgram (US), Emagia (US), InData Labs (US), Zest AI (US), Scienaptic AI (US), Gradient AI (US), Kasisto (US), Trumid (US), DataVisor (US), Kavout (US), WealthBlock (US).
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Fintech PR
VIVOTEK Wins Double Honors for Its Commitment to Sustainability
TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.
Pioneering Sustainability with Dual Recognition
“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”
Driving Sustainability through AI Innovation
VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.
Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.
In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.
Security Sustainability as a Foundation for Social Impact
VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.
Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.
To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.
View original content:https://www.prnewswire.co.uk/news-releases/vivotek-wins-double-honors-for-its-commitment-to-sustainability-302339223.html
Fintech PR
2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters” Successfully Concluded
GUIYANG, China, Dec. 26, 2024 /PRNewswire/ — To fully implement the spirit of “carrying forward China’s cultural heritage” and “promoting the creative transformation and innovative development of fine traditional Chinese culture”, the 2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters”, organized by the Publicity Department of the CPC Guiyang Municipal Committee and hosted by www.huanqiu.com, has successfully concluded on Dec.16. The contest drew thousands of teenagers from both China and abroad, who used cultural empowerment and innovative designs of Chinese characters to narrate and promote Guiyang.
At the “Colorful Guizhou • Literary Plateau” Farming and Reading Event, 59 outstanding works from 26 countries, along with 21 representative pieces from various countries and regions, were showcased. According to the organizing committee of the Global Youth Design Contest on Chinese Characters, “This exhibition serves as both a lasting commemoration of the event and a report to all those who care about the inheritance and promotion of Guiyang and Chinese culture.”
In their submissions, the teenagers selected Chinese characters or phrases they believed best represented Guiyang and reimagined them through innovative designs. Outstanding designs incorporated Guiyang’s iconic architecture and cultural landmarks into Chinese characters to present the city’s urban landscape and historical culture. Some works spotlighted Guiyang’s distinctive cuisine, offering a glimpse into the vibrant and diverse local culinary culture. Some other designs drew inspiration from martial arts villages in Guizhou and featured dragon motifs to symbolize the depth and vitality of Guizhou culture.
Saison from Tajikistan was among the participants in this year’s Global Youth Design Contest on Chinese Characters. Speaking about his design of the Chinese characters, he shared that his design sought to merge the beauty of Chinese characters with the charm of Guiyang. “Guiyang is a captivating place, known for its beautiful scenery, delicious food, and diverse ethnic minorities. I tried to incorporate the beauty of Guiyang into my Chinese character design, hoping to convey the city’s charm and the wonders of Chinese characters through my work.”
The contest officially opened for submissions on September 30. In an effort to boost public engagement and participation, a “cheerleading campaign” was organized for shortlisted works from November 22 to 29. Following expert reviews, 80 outstanding works were ultimately selected for public exhibition.
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View original content:https://www.prnewswire.co.uk/news-releases/2024-global-youth-design-contest-on-chinese-characters-themed-guiyang-in-characters-successfully-concluded-302339323.html
Fintech PR
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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View original content:https://www.prnewswire.co.uk/news-releases/markets-show-resilience-ahead-of-end-of-year-options-expirations-bybit-x-block-scholes-crypto-derivatives-report-302339299.html
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