Artificial Intelligence (AI) has been widely used to analyze and manage data in the financial sector. AI plays a key role in making a lending decision, offering customer support, protecting against fraud, predicting credit risk assessment, and many more. Knowing the advantages of AI, many modern FinTech companies are keen on adapting to AI technologies to improve their efficiency.
The level of process automation and digital transformation activities is increasing in financial services. AI technology has seen rapid growth in the global financial industry. Based on industry data, experts have predicted that the global market size of AI in FinTech will reach USD 26.67 billion.