Venturing AI, ML With FinTech: - Tech Time Magazine


AI allows Financial service providers to strike the right balance between performance, underlying logic, accuracy, performance, and compliance with regulatory requirements! The recent pandemic accelerated the budding digitization trend around the use of AI. This stimulated global spending on AI to double up over the period 2020-24, growing from USD 50 Billion in 2020 to more than USD 110 Billion in 2024. AI creates a rush of opportunities in the financial sector for in-house, outsourced, or ecosystem-based projects but there are some inherent risks in the use of this technology. Such Fintech with AI has encouraged many mergers and acquisitions among financial service providers and wealth managers as they dredge with volatility, uncertainty, complexity, and ambiguity.

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