Artificial intelligence (AI) has demonstrated a possible impact on the asset and wealth management industry over the past decade. For instance, AI-enabled solutions like conversational platforms or Chabot have enhanced customer interactions and connected services. In the Business-to-Consumer (B2C) domain, Fintech organizations propose the end-use industries a wide variety of AI-supported advisor services to make automated investment decisions. However, the applications in Business-to-Business (B2B) markets, such as fixed-income asset management, still dependent on traditional data processing based on human connections.
In recent years, financial institutions are implementing the artificial intelligence (AI) technology for managing their financial assets and decreasing operating cost, thereby growing the revenue. Several fintech companies and banks are speedily deploying voice assistants and chatbots to manage customer connections and resolve issues (queries) with negligeable human involvement. Machine learning, computer vision, and speech recognition technologies are in requirement and key number of acquisitions during the recent years were linked with these technologies, and the same technologies will register the the investment patterns in the coming years
According to the report analysis, ‘AI in Financial Asset Management Market – Global Forecast up to 2025’ states that the global AI in financial asset management market is categorized based on the existence of diversified small and large vendors. Genpact, IBM, Infosys, and Synechron are among the foremost vendors growing their global footprint in this space. However, several vendors such as IPsoft and Lexalytics are competing with them in the global market by delivering the solutions at a competitive price with the personalized product offering. The market growth is propelled by key vendors entering into strategic partnerships with suppliers and third-party vendors in the ecosystem to augment the global footprint and customer service capabilities.
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The aim of this report is to define, describe, segment, and review the AI in financial asset management market on the basis of technology, application, and regions. In addition, the report aids the venture capitalists in understanding the companies better and make well-well-versed decisions. The report is commonly designed to deliver the company’s executives with strategically substantial competitor information, data analysis, and understandings about the market, development, and employment for an effective marketing plan.
Natural language processing (NLP) is the fastest increasing technology in the global AI in financial asset management market owing to the growing deployment of chatbots and virtual personal assistants across the banking sector. Additionally, developing demand for sentiment analysis and management of huge volumes of contracts, will propel the NLP segment during the forecasted duration.
Data analysis is having the greatest market share in the application segment of the global AI in financial asset management market primarily owing to availability of huge volumes of data being created from multiple sources and require to analyse theses datasets for decision making. Investment banks are implementing AI in the areas such as investment decisions, alternative investment strategies, managing hedge funds and others. Therefore, it is predicted that during the near period the market of AI financial Asset management will augment more proficiently over the forecast period around the globe.
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Global AI in Financial Asset Management Market
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