The Financial Services Market Sees A Rise In Demand For Artificial Intelligence – QNT Press Release

The Business Research Company’s financial services market research report expands on key drivers, trends, and growth opportunities in the market.

LONDON, Oct. 17, 2022 /PRNewswire/ — The increasing demand for artificial intelligence (AI) in financial services is an emerging trend in the financial services market. AI is used to find efficiency gains, investments, and other financial elements within financial services companies. For instance, in November 2020, Roberto Nicastro and Federico Sforzahave launched Aidexa, a new Italian challenger bank. A simple, AI-powered and data-driven bank; with its new brand combining ‘AI’ and ‘Idea’ into a fintech company that addresses small and medium enterprises (SME) needs with simple, quality, smooth UX and swift solutions, leveraging on machine learning technology and the opportunities of PSD2/open banking.

The global financial services market size is expected to grow from $23.31 trillion in 2021 to $25.83 trillion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global financial services market size is then expected to grow to $37.34 trillion in 2026 at a CAGR of 9.6%.

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Blockchain Technology Is The Main Driving Factor For The Financial Services Market

Major companies operating in the banking and financial services market are adopting the use of blockchain to help reduce fraudulent transactions, such as the use of smart contracts which allow the buyer …

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