Artificial Intelligence in BFSI Market to reach $25 bn by 2024 Artificial Intelligence (AI) in BFSI Market

Artificial Intelligence in BFSI Market to grow at
30% CAGR from 2018–2024: Global Market
Insights Inc.
Artificial Intelligence (AI) BFSI Market set to exceed USD 25 billion by 2024; driven
by increasing partnership between financial institutes and fintech companies. The
need to provide an enhanced customer experience is the primary factor augmenting
the growth of the AI in BFSI market. As the competition among the market players is
mounting day-by-day, companies have started to focus on providing a better
experience to the customers to gain the customer loyalty. This encourages financial
institutes to integrate advanced analytics tools and solutions to analyze customer
data to fulfill their requirement, understand the customer experience, and to make
smarter predictions about their behavior and requirements. Furthermore, companies
are also looking forward to connecting with the customers on their choice of
channels to provide a more seamless experience.
Furthermore, as digitalization is spreading across the globe, customers are
becoming more empowered. They have access to a wide array of products offered
by the traditional as well as dynamic new entrants. As the choices increase, the
customer loyalty becomes more friable and the customer becomes more
empowered. The organizations have no option but to remain agile and continuously
innovate their business by adopting modern technologies to cater to the high
expectations and standards for customers.
Artificial Intelligence (AI) in BFSI Market
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