In the fintech industry, artificial intelligence helps the handling of massive amounts of data to provide insightful conclusions and improve knowledge of clients and their behaviour.  A growing number of small and medium-sized end customers are seeing the value of combining financial services with cutting-edge technologies.

Due to the growing number of important market partnerships, more funding is being given for the expansion and development of cutting-edge, automated technology and machinery against fraudulent operations. Information technology developments would be facilitated by increased investment in research and development. The sector will also profit from the increasing use of machine learning and artificial intelligence technology. The growth of small and medium-sized firms globally is one of the major factors propelling the market's progress. In other words, the growth of the banking, financial services, and insurance (BFSI), education, energy, and utility sectors, government and public sector, healthcare, and life sciences, manufacturing, retail, and e-commerce is directly influencing the market's growth rate. The expansion of the global economy has created enormous growth potential for the information and communication technology sector. However, both the volume of organisational data and the number of cybercriminal operations are rising. This could compromise the integrity of the documents and harm an organization's reputation. Additionally, this will create a fantastic potential for development.    

However, a growing number of regulatory compliance requirements combined with a lack of technological know-how will obstruct business expansion. Additionally, a lack of qualified consultants will limit the market's potential for growth in terms of artificial intelligence development. Additionally, the halt of company operations due to the coronavirus epidemic will again cause obstacles. The adoption of cloud-based deployment methods is complicated, which will slow the market's rate of expansion. Furthermore, only major businesses are utilising the cloud-based deployment methodology, which will further slow the market's growth rate. Additionally, low levels of awareness in underdeveloped areas and expensive implementation costs will prevent the industry from expanding. The market growth rate would also be hampered by the weak infrastructure and lack of security concerns in developing economies.

The most recent coronavirus outbreak has proven advantageous for the sector. Commercial activity has been halted as a result of the coronavirus pandemic, which has also caused disruptions to global supply chains, border restrictions, and travel bans by government organisations. Banks and fintech firms have modified their policy on work from home as a result. The market's growth potential was further increased by the extensive usage of artificial intelligence and machine learning tools in banking firms to carry out critical activities. Additionally, businesses worldwide saw a rise in investments in cloud solutions that supported easy remote working by the end of 2020.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Affirm, Inc., Amazon Web Services, Amelia U.S. LLC, ComplyAdvantage.com, Google LLC, Inbenta Technologies, Instructure, Inc., Intel, International Business Machines Corp., Microsoft, Narrative Science, Nuance Communications, Inc., Oracle, Salesforce, Inc., Upstart Network, Inc., Others.

By Components: Based on the Components, Global AI in Fintech Market is segmented as; Services (Managed, Professional), Solutions.

By Deployment: Based on the Deployment, Global AI in Fintech Market is segmented as; Cloud, On-premise.

By Application: Based on the Application, Global AI in Fintech Market is segmented as; Business Analytics and Reporting, Customer Behavioural Analytics, Fraud Detection, Quantitative and Asset Management, Virtual Assistant (Chatbots), Others.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.