Dublin, June 03, 2025 (GLOBE NEWSWIRE) -- The "Generative Artificial Intelligence (AI) in Banking and Finance Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets.com's offering.
The global generative artificial intelligence (AI) in banking and finance market is projected to achieve remarkable growth from $1.29 billion in 2024 to $21.57 billion by 2034, at a CAGR of 31.64%. This growth trajectory reflects a robust demand driven by data security, personalized financial services, and sophisticated fraud detection mechanisms. Despite a historical trust deficit in AI systems, future growth will be fueled by economic expansion, urbanization, digital transformation, and governmental support. The industry faces challenges like a shortage of skilled AI professionals and technical expertise.
Market competition is fragmented, with the top ten players contributing merely 16.45% to the total market share in 2023. Leading the space is Microsoft Corporation with a 2.10% share, followed closely by Google LLC, IBM, and others. North America recorded the highest market share at 52.10% in 2024, with South America and Africa expected to be the fastest-growing regions at CAGRs of 49.47% and 49.05%, respectively, going forward.
Technological segmentation reveals natural language processing as the most significant, encompassing 36.89% of the market in 2024, with expectations of leading future growth at a CAGR of 39.20%. Deployment models highlight cloud-based solutions dominating at 72.29%, poised for a 38.22% CAGR. In application, fraud detection leads with 31.72%, while trading and portfolio management are poised for rapid expansion at a CAGR of 46.32%.
Banks account for 48.31% of the end-user segment, but fintech companies are anticipated to drive future growth with a 40.25% CAGR. As the generative AI market evolves, opportunities abound in technology, deployment, application, and end-user market segments. Notably, natural language processing and cloud-based deployments are expected to see significant gains, providing ample opportunities for investment and innovation.
Market trends spotlight transformative impacts on financial documentation and innovative financial services through low-code AI solutions, with strategic partnerships acting as catalysts for AI innovation. As banks and finance firms navigate AI integration, priorities include leveraging AI for enhanced services, enhancing operational efficiency, adhering to compliance standards, and expanding into burgeoning markets like South America and Africa. Strategic collaborations and responsible, transparent AI solutions are essential to building trust and maximizing growth.
Analysts recommend generative AI firms focus on competitive pricing strategies, targeted consumer education, and strategic alliances to cement industry leadership and foster technological advancements. Emphasizing fintech partnerships and exploring opportunities within trading and portfolio management can unlock high-growth potential, further cementing the role of AI in revolutionizing the financial services industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 370 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $1.29 Billion |
| Forecasted Market Value (USD) by 2034 | $21.57 Billion |
| Compound Annual Growth Rate | 32.5% |
| Regions Covered | Global |
Generative Artificial Intelligence (AI) in Banking and Finance Trends
- Transforming Financial Documentation with Generative AI
- Innovating Financial Services With Low-Code AI Solutions
- Strategic Partnerships Driving AI Innovation in Finance
- The Future of AI in Core Banking and Financial Crime Mitigation
Companies Featured
- Microsoft Corporation
- Google LLC
- International Business Machines Corporation
- Amazon.com Inc.
- Oracle Corp.
- Accenture plc
- Goldman Sachs Group Inc.
- SAP SE
- Wells Fargo & Co.
- Teradata's Corp.
- MacZin
- Whizkey Intelligent Solutions
- Baidu
- Alibaba Group
- CureMetrix
- Fujitsu Limited
- Hokuhoku Financial Group, Inc.
- SBI Group
- KakaoBank Corp
- PT Bank Jago Tbk
- Pine Labs
- Wipro Limited
- Ant Group
- Hong Kong Monetary Authority (HKMA)
- Commonwealth Bank
- SoftBank Group
- Bank of Baroda
- NatWest
- ABN AMRO
- iGenius
- National Westminster Bank
- Intesa Sanpaolo
- Deutsche Bank
- Commerzbank
- Mistral AI
- Erste
- Flowpay
- Budapest Metropolitan University
- Libra Internet Bank
- Slovenska sporitelna
- Ailleron
- Comarch
- UiPath
- FintechOS
- Asseco Poland S.A.
- Sberbank
- NA
- Royal Bank of Canada (RBC)
- BMO Bank of Montreal
- Sun Life Financial Inc.
- Accord Financial Corp
- Office of the Superintendent of Financial Institutions (OSFI)
- Scotiabank
- Bank of Canada
- JPMorgan Chase & Co.
- TD Bank
- Bank of America
- Banco Itau Unibanco S.A.
- NeoSpace
- Nubank
- Neofin
- BNP Paribas
- Hyperplane
- Naranja X
- Banco Bradesco
- Davivienda
- Neom
- G42
- Mozn
- First Abu Dhabi Bank (FAB)
- FinanceGPT
- First Bank of Nigeria
- CashCall Inc.
- National Bank of Egypt (NBE)
For more information about this report visit https://www.researchandmarkets.com/r/hmm9rc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
