The Growing Impact of AI In Fintech
Artificial intelligence has taken the world of tech by a gust. AI in the fintech market is being used at an increasing rate and is poised to have a major impact on the industry to automate a variety of their internal processes, as well as boost their bottom line. Forbes, in its report, states “AI will save the banking industry more than $1 trillion by 2030”.
In the United States, about 2.5 million financial employees are exposed to AI technologies. The potential cost of $490 billion in the front office (for Distribution), $350 billion in the middle office, and $200 billion in back office (for Manufacture), totaling $1 trillion across fintech.