Global Cognitive Systems & Artificial Intelligence in BFSI Market 2017 - Drivers
Source: Laura Wood
Research and Markets has announced the addition of the "Cognitive Systems & Artificial Intelligence in BFSI Market - Global Drivers, Opportunities, Trends, and Forecasts to 2022" report to their offering.
The Artificial Intelligence &Cognitive Systems and Artificial 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.
Globally, BFSI is the second most customer data-centric industry, where players have a bundle of new business opportunities from Cognitive Systems and Artificial Intelligence (AI). 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.
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.
Some of the leading companies included in the report are IBM, Synechron, Micro Strategy, Infosys, Next IT Corp., Rocket Fuel Inc., and others.
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
4 Market Outlook
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 ?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
10 Vendor Profiles
10.1 IBM Corp.
10.2 MicroStrategy Incorporated
10.3 Rocket Fuel
10.4 Infosys Limited
10.5 Synechron
10.6 Next IT Corp
11 Companies to Watch for
11.1 IPsoft Inc.
11.2 Brighterion, Inc.
11.3 Inbenta Technologies Inc.
11.4 Narrative Science
11.5 Quandl Inc.
11.6 AlphaSense, Inc.
12 Competitive Landscape
12.1 Competitor Comparison Analysis
12.2 Market Landscape
13 Expert's Views
For more information about this report visit https://www.researchandmarkets.com/research/gd7wwj/cognitive_systems
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