Artificial Intelligence and Cognitive Systems In BFSI – By Technologies (NLP, Machine Learning, Deep Learning, and Image Processing & Video Recognition ), Deployment Types(On Premises, and Cloud), Verticals (Banking, Financial Services and Insurance), and Regions (Americas, Europe, Asia-pacific, and MEA): Global Drivers, Opportunities, Trends and Forecasts to 2022
- April, 2017
- Domain: ICT - Verticals - BFSI,digital technologies
Pages:
84
Tables:
16
Charts:
46
Regions/Countries:
4/16
Companies:
12
Enquiry Hours:
10
- Get Free 10% Customization in this Report
Overview:
Globally, BFSI is the second most customer data-centric industry, where players have a bundle of new business opportunities from Artificial Intelligence (AI) and Cognitive Systems. It is an evolving data driven technology that works on on-premises and cloud-based software. The system replaces the human thought process with a simulated digital model that includes a self-learning system, which derives patterns by using data mining, speech recognition, and language processing techniques. The cognitive systems require AI platform to derive the complicated business issues.
Globally, the growing demand for digital technology and changing customer demands have led the BFSI players to adopt cognitive systems and AI implementation in their operations to deal with ever-changing regulatory & compliance laws to face the market risk and understand both income tax & corporate tax laws in an efficient way. It is also showing a strong presence in analyzing consumer behavior patterns to bring new offerings and is finding new distribution channels for the financial institutions. Furthermore, IoT, cloud technology, edge computing, security related technology (blockchain), etc. are supporting the market growth.
Market Analysis:
According to Infoholic Research, the “Artificial Intelligence & Cognitive Systems in BFSI” will witness a CAGR of 45.9% during the forecast period 2016–2022. The increasing usage of cloud-based solutions in the BFSI industry, rising demand for the data-driven solutions, increasing internet banking penetration, and scope of deriving market risk are fostering the market growth. The market is segmented into technologies, deployment types, verticals and regions.
Deployment Mode & Technology Analysis:
The market is segmented according to the deployment types offered by technology providers. There are two popular deployment types, namely on-premises and cloud-based services. At present, on-premises services are in high demand owing to its capability of delivering technological advancement to clients. Also, the demand for cloud-based services is expected to increase due to the rise in the number of medium-sized enterprises in financial services industry.
Region Analysis:
In terms of regions, the Americas is set to outperform for the market growth followed by Europe. The American Fintech ecosystem, changing customer expectations, government regulations, and the country’s technological advancement drive the innovation in AI technologies. Asia Pacific is expected to be the fastest growing market in the upcoming years. The US, the UK, Germany, China, Japan, Canada, and Singapore are few of the countries which are concentrating on developing AI technologies for the industrial and governmental use.
Key players & Benefits
Some of the leading companies included in the report are IBM, Synechron, Micro Strategy, Infosys, Next IT Corp., Rocket Fuel Inc., and others.
The financial institutions create a competitive advantage with the use of these technologies. The leading global financial institutions are investing in AI space, and thus, BFSI is the most lucrative investment destination for cognitive systems and AI key stakeholders.
The study covers and analyzes the “Artificial Intelligence and Cognitive Systems in BFSI”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
1.3 Pest Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
4 Market Outlook
4.1 Overview
4.2 Market Trends
4.3 Market Definitions
4.4 Market Segmentations
4.5 Porter 5 (Five) Forces
5 Market Characteristics
5.1 Evolution
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for the data driven solutions
5.2.1.2 Increasing the usage in market risk and fraud detection
5.2.1.3 Increasing usage of technologies in the BFSI Industry
5.2.1.4 Increasing Digitalization of Banking services
5.2.1.5 Dealing with complex ï¬nancial compliance laws
5.2.1.6 Demand technology driven customer services
5.2.2 Restraints
5.2.2.1 Government regulations
5.2.2.2 Excessive cost of ownership
5.2.3 Opportunities
5.2.3.1 Understanding Human emotions
5.2.3.2 Developing smarter robots
5.2.4 DRO – Impact Analysis
5.2.5 Future of AI
6 Deployment Type: Market Size & Analysis
6.1 Overview
6.2 On Premises
6.3 Cloud
7 Technologies: Market Size & Analysis
7.1 Overview
7.2 Machine Learning
7.3 Deep Learning
7.4 Natural Language Processing
7.5 Image processing and Video recognition
8 Verticals: Market Size & Analysis
8.1 Overview
8.2 Banking
8.2.1 Customer support
8.2.2 Fraud Detection
8.3 Financial Services
8.3.1 Wealth Management and Personal Financial advisory
8.3.2 Advisors in Stock Trading
8.3.3 Credit risk management
8.4 Insurance
8.4.1 Underwriting
8.4.2 Claims processing
9 Regions: Market Size & Analysis
9.1 Overview
9.2 Americas
9.2.1 US
9.2.2 Canada
9.2.3 Brazil
9.2.4 Mexico
9.3 Europe
9.3.1 UK
9.3.2 France
9.3.3 Germany
9.3.4 Italy
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 Singapore
9.4.4 India
9.4.5 South Korea
9.5 Middle East & Africa
10 Vendor Profiles
10.1 IBM Corp.
10.1.1 Overview
10.1.2 Business unit
10.1.3 Geographic revenue
10.1.4 Recent Developments
10.1.5 Business focus
10.1.6 SWOT analysis
10.1.7 Business strategies
10.2 MicroStrategy Incorporated
10.2.1 Overview
10.2.2 Business units
10.2.3 Geographic revenue
10.2.4 Business focus
10.2.5 SWOT Analysis
10.2.6 Business Strategy
10.3 Rocket Fuel
10.3.1 Overview
10.3.2 Business Units
10.3.3 Geographic revenue
10.3.4 Business Focus
10.3.5 SWOT Analysis
10.3.6 Business Strategy
10.4 Infosys Limited
10.4.1 Overview
10.4.2 Business Units
10.4.3 Geographic Revenue
10.4.4 Business focus
10.4.5 SWOT Analysis
10.4.6 Business strategy
10.5 Synechron
10.5.1 Overview
10.5.2 Business Units
10.5.3 Geographic Revenue
10.5.4 Business Focus
10.5.5 SWOT Analysis
10.5.6 Business Strategy
10.6 Next IT Corp
10.6.1 Overview
10.6.2 Business Units
10.6.3 Geographic Revenue
10.6.4 Business Focus
10.6.5 SWOT Analysis
10.6.6 Business Strategy
11 Companies to Watch for
11.1 IPsoft Inc.
11.1.1 Overview
11.1.2 IPsoft Market
11.1.3 Artificial Intelligence Offerings
11.2 Brighterion, Inc.
11.2.1 Overview
11.2.2 Brighterion, Inc
11.2.3 Artificial Intelligence Offerings
11.3 Inbenta Technologies Inc.
11.3.1 Overview
11.3.2 Inbenta Technologies Market
11.3.3 Artificial Intelligence Offerings
11.4 Narrative Science
11.4.1 Overview
11.4.2 Narrative Science
11.4.3 Artificial Intelligence Offerings
11.5 Quandl Inc.
11.5.1 Overview
11.5.2 Quandl Market
11.5.3 Artificial Intelligence Offerings
11.6 AlphaSense, Inc.
11.6.1 Overview
11.6.2 AlphaSense Market
11.6.3 Artificial Intelligence Offerings
12 Competitive Landscape
12.1 Competitor Comparison Analysis
12.2 Market Landscape
12.2.1 Mergers & Acquisitions (M&A)
13 Expert’s Views
Annexure
Acronyms
TABLE 1 CS AND AI IN BFSI MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 ($BILLION) 23
TABLE 2 CS AND AI IN BFSI MARKET GROWTH BY DEPLOYMENT TYPE, 2016-2022, Y-O-Y (%) 23
TABLE 3 CS AND AI IN BFSI MARKET REVENUE BY TECHNOLOGIES, 2016-2022 ($BILLION) 25
TABLE 4 CS AND AI IN BFSI MARKET GROWTH BY TECHNOLOGIES, 2016-2022, Y-O-Y (%) 26
TABLE 5 CS AND AI IN BFSI MARKET REVENUE BY VERTICALS, 2016-2022 ($BILLION) 28
TABLE 6 CS & AI IN BFSI MARKET GROWTH BY VERTICALS, 2016-2022, Y-O-Y (%) 29
TABLE 7 CS & AI IN BFSI MARKET REVENUE BY REGIONS, 2016–2022 ($BILLION) 33
TABLE 8 CS & AI IN MARKET GROWTH BY REGIONS, 2016–2022, Y-O-Y (%) 33
TABLE 9 AMERICAS MARKET REVENUE BY COUNTRIES, 2016-2022 ($BILLION) 34
TABLE 10 AMERICAS MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 ($BILLION) 34
TABLE 11 EUROPE MARKET REVENUE BY COUNTRIES, 2016-2022 ($BILLION) 37
TABLE 12 ASIA PACIFIC MARKET REVENUE BY COUNTRIES, 2016-2022 ($BILLION) 41
TABLE 13 MEA MARKET REVENUE BY COUNTRIES, 2016-2022 ($BILLION) 45
TABLE 14 MEA MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 ($BILLION) 45
TABLE 15 IBM: RECENT DEVELOPMENTS 48
TABLE 16 MERGER & ACQUISITION, 2014–2015 73
Research Framework
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
- Forecasting
Market related information is congregated from both primary and secondary sources.
Primary sources
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.
