GITNUX MARKETDATA REPORT 2024

AI Use In Financial Services Statistics And Trends in 2024

Statistic 1

"AI can reduce credit card fraud by up to $31 billion annually."

Sources Icon

Statistic 2

"By 2025, AI is projected to power 95% of all customer interactions in financial services."

Sources Icon

Statistic 3

"Banks are seeing up to a 50% increase in employee productivity through AI tools."

Sources Icon

Statistic 4

"AI can process data 1,000 times faster than traditional financial software."

Sources Icon

Statistic 5

"AI will enable financial institutions to offer personalized experiences to 83% of their customers."

Sources Icon

Statistic 6

"AI-powered advisory platforms could reduce time spent on financial analysis by 50%."

Sources Icon

Statistic 7

"77% of financial institutions are expected to use AI for fraud detection by 2023."

Sources Icon

Statistic 8

"85% of financial service organizations have implemented some form of AI in their processes."

Sources Icon

Statistic 9

"88% of risk managers in financial services say their AI investments are improving risk management."

Sources Icon

Statistic 10

"An estimated 66% of banks are increasing their AI investments to transform their customer service."

Sources Icon

Statistic 11

"52% of financial service organizations are making substantial investments in AI and machine learning."

Sources Icon

Statistic 12

"Financial firms can save up to $447 billion by 2023 through the use of AI."

Sources Icon

Statistic 13

"AI in anti-money laundering applications is expected to grow at a CAGR of 21% through 2025."

Sources Icon

Statistic 14

"AI helps in reducing customer attrition rates by up to 75% in financial services."

Sources Icon

Statistic 15

"Fraud detection rates have improved by over 90% with the integration of AI in financial services."

Sources Icon

Statistic 16

"AI-driven chatbots can handle up to 75% of customer queries for financial service providers."

Sources Icon

Statistic 17

"70% of financial firms say they use AI to help create risk scoring models."

Sources Icon

Statistic 18

"AI adoption in financial services can lead to a 30% reduction in operational costs."

Sources Icon

Statistic 19

"AI innovations in financial services have contributed to a 40% increase in productivity according to some industry studies."

Sources Icon

Statistic 20

"The global AI in the financial market is projected to grow from $7.3 billion in 2020 to $38.3 billion by 2027."

Sources Icon

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!