Kenneth Research has revised its market analysis for Artificial Intelligence (AI) in Financial Asset Management Market for 2021 to 2030 in a recently published report. The report goes on to cover the many strategies that will be or are being implemented by corporate actors throughout the world at various stages of the value chain. In light of the global economic slowdown, we believe that China, India, Japan, and South Korea will recover the fastest of all Asian countries. Germany, France, Italy, and Spain would bear the brunt of the damage, which is predicted to be reversed by the end of 2021 – Positive growth in economic demand and supply.
In a statement on May 4th, 2021, the U.S. Bureau of Economic Analysis and the U.S. Census Bureau discuss the recovery in the U.S. International trade in March 2021. In February 2021, the country’s exports increased by $12.4 billion to $200 billion. Following the continuous incremental trend, imports totaled $274.5 billion in February 2021, up to $16.4 billion from the previous month. However, as COVID-19 continues to plague economies around the world, year-over-year (y-o-y) average exports in the U.S. fell by $7.0 billion from March 2020 to March 2021, while imports grew by $20.7 billion over the same period. This clearly demonstrates how the market is attempting to recover, and it will have a direct impact on the Healthcare/ICT/Chemical industries, producing a significant demand for Artificial Intelligence (AI) in Financial Asset Management Market solutions.
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Factors like expanding global commerce in services, backed by increasing urbanization, and the emergence of various new micro, small, and medium firms are expected to contribute to the Markets expansion throughout the forecast period. According to the Organization for Economic Cooperation and Development (OECD) figures, the United States was the largest exporter of international trade in services among all OECD nations in 2018, with a value of USD 827 billion.
Kenneth Research has added a report titled Artificial Intelligence (AI) in Financial Asset Management Market, which provides detailed insights into the market scenario, which is further classified based on market size and market volume, as well as the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 202-2025.
Global AI in Financial Asset Management Market – Drivers, Restrictions, Opportunities, Trends, and Forecast up to 2025
In recent years, financial institutions have begun to use artificial intelligence (AI) technology to manage their financial assets and reduce operating costs, resulting in increased revenue. Several fintech firms and banks are rapidly introducing voice assistants and chatbots to manage customer contacts and address issues with minimal human intervention. Machine learning, computer vision, and speech recognition technologies are in high demand, and a significant number of acquisitions have been associated with these technologies in recent years, and the same technologies will dominate investment patterns in the next years.
Fraud detection, personal financial management, and investment banking are three major areas where AI could be used to handle financial assets. Financial asset management allows financial institutions to properly manage their financial assets while meeting changing client expectations by employing technology such as AI, predictive analytics, and machine learning. This will help firms automate and streamline business operations, resulting in a better customer experience.
The global AI in the financial asset management market is divided into two segments based on the presence of several small and major vendors. Among the prominent vendors expanding their global foothold in this market are Genpact, IDM, Infosys, and Synechron. However, several vendors, including IPsoft and Lexalytics, are competing with them in the global market by delivering solutions at a competitive price with customized product offerings. The market is growing as important vendors form strategic alliances with suppliers and third-party vendors in the ecosystem to expand their worldwide footprint and customer support capabilities.
Because of the rising deployment of chatbots and virtual personal assistants in the banking sector, natural language processing (NLP) is the fastest growing technology in the worldwide AI in the financial asset management market. Furthermore, the rising need for sentiment analysis and contract management would propel the NLP segment during the anticipated period.
Data analysis has the greatest market share in the worldwide AI in the financial asset management market, owing to the availability of massive amounts of data generated from different sources and the requirement to analyze these datasets for decision making. AI is being used by investment banks in areas such as investment decisions, alternative investment methods, hedge fund managers, and others.
According to Kenneth Research, the global AI in the financial asset management market would develop at a CAGR of 33.84% between 2019 and 2025. The purpose of this study is to define, describe, segment, and predict the AI market in financial asset management by technology, application, and region. Furthermore, the report assists venture capitalists in better understanding the companies and making well-informed selections. The report’s primary goal is to supply the company’s leaders with strategically significant competitor information, data analysis, and market insights, as well as the development and implementation of an effective marketing plan.
The global AI in the financial asset management market is divided into three sections: technology, application, and geographies.
Technology –> Predictive Analytics, Machine Learning, Natural Language Processing (NLP), and others.
Application –> Conversational Platforms, Data Analysis, Risk & Compliance, Portfolio Optimization, Process Automation, and Others
Regions –> the Americas, Europe, Asia, and the Rest of the World (RoW includes the Middle East and Africa; APAC includes East Asia, South Asia, South-East Asia, and Oceania)
The study provides a vendor analysis, which includes financial state, business units, main business priorities, SWOT, business strategies, and perspectives. The competitive landscape is covered in the report, which includes mergers and acquisitions, joint ventures and partnerships, and competitor comparison analysis. Financial details and revenue of segments will be limited in the vendor profile area for privately-held enterprises.
The key players offering AI in financial asset management across the globe include:
Genpact
IDM
Infosys
Synechron
Next IT
IPsoft
Lexalytics
Narrative Science
Information from MarketWatch