Industry Overview
Artificial Intelligence (AI) & Advanced Machine Learning (ML) in BFSI Market was valued at $9.1 billion in 2024 and is anticipated to reach $62.9 billion by 2035 at a CAGR of 23.4% during the forecast period (2025-2035). AI in financial services is revolutionizing the BFSI sector as AI is assisting the financial sector to optimize and streamline processes from credit decisions to quantitative trading and financial risk management. Apart from that, advanced machine learning technology is employed to assist organizations to enhance customer experience, services, and to optimize budgets. Additionally, it offers solutions to process automation to replace mundane manual tasks in most situations. Besides this, AI and machine learning facilitate declining credit default frauds through tracking transactions in order to identify malicious transactions with compliance issues. According to IBM in 2024, 8% of banks were creating generative AI systematically and 78% were following a tactical approach. As the pilots are shifting to implementation, more banks are redefining their strategic strategy to service growth, including agentic AI.
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Recent Developments
- In May 2025, Red Hat, the global leader in open source solutions, declared that it has collaborated with DenizBank, a top private Turkish bank, on its workflow modernization to integrate AI into its day-to-day operations. DenizBank developed a model development environment powered by Red Hat OpenShift AI, a platform for AI and ML lifecycle management across on-premise and public cloud environments.
Some of the Key Companies in the AI & Advanced Machine Learning in BFSI Market include-
- Ai
- Amazon Web Services Inc.
- Betterment Holdings
- Cisco System Inc.
- com
- Data Minr Inc.
- IBM Corp.
- Intel Corp.
- IPsoft Inc. (Amelia US LLC)
- Microsoft Corp.
- Narrative Science
- Next IT Corp.
- Onfido
- Pefin Holdings LLC
- Ripple Labs Inc.
- SAP SE
- SAS Institute Inc.
- Sift Science Inc.
- TIBCO Software (Alpine Data Labs)
- Trifacta Software Inc.
- WealthFront Inc.
- Zeitgold
AI & Advanced Machine Learning in BFSI Market Segmentation Analysis
Global AI & Advanced Machine Learning in BFSI Market by Component
- Solution
- Services
Global AI & Advanced Machine Learning in BFSI Market by Deployment Model
- On-Premises
- Cloud-Based
Global AI & Advanced Machine Learning in BFSI Market by Application
- Chatbots
- Credit Scoring
- Quantitative & Asset Management
- Fraud Detection
- Others (Digital Assistance, Sales & Marketing, Customer Segmentation)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Economies (Singapore, Thailand, Vietnam, Indonesia, and Other)
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Anurag Tiwari
Director Sales Division
+91 780-304-0404
info@omrglobal.com
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