StockApps.com reports that the Global AI in Fintech Market will reach $39 billion, a 350% increase expected between 2023 and 2032.
“By harnessing the power of AI, fintech companies can unlock new levels of efficiency. They could enjoy data-driven decision-making and customer-centricity,” says Edith Reads from StockApps.
“To remain competitive and meet customers’ evolving needs, embracing AI is not just a strategic move. It is a need in today’s technology-driven financial landscape. Fintechs must seize the opportunity to leverage AI. This is how they position themselves at the forefront of innovation and success.”
One area where AI is making a significant impact in fintech is customer service. AI-powered chatbots have revolutionised the way financial institutions interact with their clients.
These intelligent virtual assistants can handle a wide range of customer queries. Besides, they provide real-time support and even perform basic transactions.
With AI, clients enjoy a seamless user experience.