Product Code: GVR-4-68040-432-2
Market Size & Trends:
The global generative AI in financial services market size was estimated at USD 1,673.1 million in 2023 and is projected to grow at a CAGR of 39.1% from 2024 to 2030. Generative AI is revolutionizing customer engagement in the financial services sector by enabling highly personalized interactions. Through advanced data analytics, AI tailors financial advice, investment strategies, and customer service experiences to individual preferences, enhancing customer satisfaction. AI-powered chatbots and virtual assistants are increasingly capable of handling complex queries, streamlining transactions, and providing real-time financial guidance. This shift towards AI-driven customer experience not only boosts customer loyalty but also drives operational efficiency for financial institutions.
Generative AI is driving the automation of financial processes, leading to improved operational efficiency and reduced costs. AI-powered robo-advisors are increasingly offering automated investment management services, providing personalized advice with minimal human intervention. In the lending sector, AI is revolutionizing the underwriting process by quickly assessing the creditworthiness of borrowers through advanced data analysis. This automation not only speeds up financial processes but also enhances accuracy, ultimately benefiting both financial institutions and their customers.
Generative AI is enhancing risk management and fraud detection capabilities within financial institutions. By analyzing vast datasets in real-time, AI models can identify unusual transaction patterns and anomalies, significantly reducing the risk of fraud. Predictive analytics powered by AI enables financial institutions to anticipate and mitigate various risks, such as credit, market, and operational risks. This initiative-taking approach to risk management not only strengthens security but also ensures compliance with regulatory requirements, safeguarding both the institution and its clients.
Global Generative AI In Financial Services Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global generative AI in financial services market report based on application, deployment, end-user, and region.
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Risk Management
- Fraud Detection
- Credit Scoring
- Forecasting & Reporting
- Customer Service and Chatbots
- Deployment Outlook (Revenue, USD Million, 2018 - 2030)
- On-premises
- Cloud-based
- End-user Outlook (Revenue, USD Million, 2018 - 2030)
- Retail Banking
- Corporate Banking
- Insurance Companies
- Investment Firms
- Hedge Funds
- FinTech Companies
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East and Africa (MEA)
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Generative AI in Financial Services Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Drivers Analysis
- 3.2.2. Market Restraints Analysis
- 3.2.3. Industry Opportunities
- 3.2.4. Industry Challenges
- 3.3. Generative AI in Financial Services Market Analysis Tools
- 3.3.1. Porter's Analysis
- 3.3.2. PESTEL Analysis
Chapter 4. Generative AI in Financial Services Market: Application Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Generative AI in Financial Services Market: Application Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Risk Management
- 4.3.1. Risk Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Fraud Detection
- 4.4.1. Fraud Detection Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Credit Scoring
- 4.5.1. Credit Scoring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Forecasting & Reporting
- 4.6.1. Forecasting & Reporting Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Customer Service and Chatbots
- 4.7.1. Customer Service and Chatbots Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Generative AI in Financial Services Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Generative AI in Financial Services Market: Deployment Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. On-premises
- 5.3.1. On-premises Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Cloud-based
- 5.4.1. Cloud-based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Generative AI in Financial Services Market: Customer Type Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Generative AI in Financial Services Market: Customer Type Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Retail Banking
- 6.3.1. Retail Banking Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Corporate Banking
- 6.4.1. Corporate Banking Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Insurance Companies
- 6.5.1. Insurance Companies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Investment Firms
- 6.6.1. Investment Firms Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Hedge Funds
- 6.7.1. Hedge Funds Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. FinTech Companies
- 6.8.1. FinTech Companies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Generative AI in Financial Services Market: Regional Estimates & Trend Analysis
- 7.1. Generative AI in Financial Services Market Share, By Region, 2023 & 2030 (USD Million)
- 7.2. North America
- 7.2.1. North America Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Canada Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. Germany
- 7.3.2.1. Germany Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. UK
- 7.3.3.1. UK Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. France Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. China Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Japan
- 7.4.3.1. Japan Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
- 7.4.4.1. India Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. Australia
- 7.4.5.1. Australia Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. South Korea
- 7.4.6.1. South Korea Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. UAE
- 7.6.2.1. UAE Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. KSA
- 7.6.3.1. KSA Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. South Africa
- 7.6.4.1. South Africa Generative AI in Financial Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis
- 8.5. Company Heat Map Analysis
- 8.6. Strategy Mapping
- 8.6.1. Expansion
- 8.6.2. Mergers & Acquisition
- 8.6.3. Partnerships & Collaborations
- 8.6.4. New Product Launches
- 8.6.5. Research And Development
- 8.7. Company Profiles
- 8.7.1. Alpha Sense.
- 8.7.1.1. Participant's Overview
- 8.7.1.2. Financial Performance
- 8.7.1.3. Product Benchmarking
- 8.7.1.4. Recent Developments
- 8.7.2. Amazon Web Services, Inc.
- 8.7.2.1. Participant's Overview
- 8.7.2.2. Financial Performance
- 8.7.2.3. Product Benchmarking
- 8.7.2.4. Recent Developments
- 8.7.3. EY (Ernst & Young)
- 8.7.3.1. Participant's Overview
- 8.7.3.2. Financial Performance
- 8.7.3.3. Product Benchmarking
- 8.7.3.4. Recent Developments
- 8.7.4. Google LLC
- 8.7.4.1. Participant's Overview
- 8.7.4.2. Financial Performance
- 8.7.4.3. Product Benchmarking
- 8.7.4.4. Recent Developments
- 8.7.5. HCL Technologies
- 8.7.5.1. Participant's Overview
- 8.7.5.2. Financial Performance
- 8.7.5.3. Product Benchmarking
- 8.7.5.4. Recent Developments
- 8.7.6. IBM Corporation
- 8.7.6.1. Participant's Overview
- 8.7.6.2. Financial Performance
- 8.7.6.3. Product Benchmarking
- 8.7.6.4. Recent Developments
- 8.7.7. Intel Corporation
- 8.7.7.1. Participant's Overview
- 8.7.7.2. Financial Performance
- 8.7.7.3. Product Benchmarking
- 8.7.7.4. Recent Developments
- 8.7.8. Mastercard
- 8.7.8.1. Participant's Overview
- 8.7.8.2. Financial Performance
- 8.7.8.3. Product Benchmarking
- 8.7.8.4. Recent Developments
- 8.7.9. Microsoft
- 8.7.9.1. Participant's Overview
- 8.7.9.2. Financial Performance
- 8.7.9.3. Product Benchmarking
- 8.7.9.4. Recent Developments
- 8.7.10. Narrative Science
- 8.7.10.1. Participant's Overview
- 8.7.10.2. Financial Performance
- 8.7.10.3. Product Benchmarking
- 8.7.10.4. Recent Developments
- 8.7.11. OpenAI
- 8.7.11.1. Participant's Overview
- 8.7.11.2. Financial Performance
- 8.7.11.3. Product Benchmarking
- 8.7.11.4. Recent Developments
- 8.7.12. Salesforce, Inc.
- 8.7.12.1. Participant's Overview
- 8.7.12.2. Financial Performance
- 8.7.12.3. Product Benchmarking
- 8.7.12.4. Recent Developments
- 8.7.13. SAP
- 8.7.13.1. Participant's Overview
- 8.7.13.2. Financial Performance
- 8.7.13.3. Product Benchmarking
- 8.7.13.4. Recent Developments