The State Of AI Adoption In Financial Services

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– “IDC predicts worldwide revenues for artificial intelligence (AI) software, hardware and services will reach $156.5B in 2020, increasing 12.3% over 2019.

– The global AI fintech market is predicted to reach $22.6B in 2025, achieving a Compound Annual Growth Rate (CAGR) of 23.37% between 2020 and 2025 according to Mordor Intelligence.

– Fintech is forecast to achieve a compound annual growth rate (CAGR) of 25% through 2022, reaching a market value of $309B.

– The broader financial services market expected to reach $26.5T by 2022, achieving a 6% CAGR.

– 70% of all financial services firms are using machine learning to predict cash flow events, fine-tune credit scores and detect fraud, according to a recent survey by Deloitte Insights.

-54% of Financial Services organizations with 5,000+ employees have adopted AI, according to the latest Economist Intelligence Unit adoption study”

https://www.google.com/amp/s/www.forbes.com/sites/louiscolumbus/2020/10/31/the-state-of-ai-adoption-in-financial-services/amp/

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