UK Artificial Intelligence in Finance Market Research Report

UK Artificial Intelligence in Finance Market Overview:

The UK artificial intelligence in finance market size reached USD 1.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 10.7 Billion by 2033, exhibiting a growth rate (CAGR) of 24.80% during 2025-2033. The market is driven by the rapid innovations in natural language processing (NLP) for financial analysis, the increasing awareness and acceptance of AI solutions among financial institutions, the development of AI-driven financial forecasting tools, the rising demand for improved cybersecurity measures, the growing adoption of AI for credit scoring and lending, and regulatory support and favorable policies for AI integration.

UK Artificial Intelligence in Finance Market Trends:

Rising digitization in the BFSI industry

The growth of the market is being driven by the rising digitization in the BFSI industry worldwide. AI is widely employed in fintech for tasks such as running virtual assistants, collecting debts, analyzing sentiments and making predictions, generating reports, and examining customer behavior. It increases productivity, reduces the risks of mistakes, and can analyze large amounts of data quickly. Additionally, AI assists in automatically and instantly analyzing cash, credit, and investment accounts to assess an individual's financial well-being and generate personalized insights for future growth. Besides, numerous technological innovations like integrating fintech solutions with machine learning (ML), neural networks, big data, and evolutionary algorithms are also serving as factors that promote growth. These technologies provide improved monitoring of financial transactions, risk management, speech recognition, and secure network access for banking institutions.

Increasing adoption of AI for fraud detection and prevention

The rising adoption of AI for the prevention of fraud in an increasing number of institutions and organizations also promotes the expansion of the market. There is also increasing sophistication of the measures employed by fraudsters and other cyber security threats results which is making these institutions face many problems. AI tools such as ML and predictive modeling are influential in augmenting fraud detection by use of real-time data mining. The use of AI is better than traditional means as the system can learn new features, recognize abnormal features, flag cheating behavior, and develop faster responses to threats that may arise. In addition, technological advancements are driven by the requirements of the regulations and compliance regimes of financial institutions. Financial institutions are investing in AI to not only comply with regulations but also gain a competitive edge in the market by offering more secure and reliable services. Besides, the rapid technological advancements and decreasing costs of AI implementation are making these solutions more accessible to a broader range of financial institutions, including smaller firms. This democratization of technology is further driving market growth.

UK Artificial Intelligence in Finance Market News:

• September 4, 2024: Cognizant announced the launch of Multi-Agent Gen AI Bots. Generative AI-powered multi-agent bots are transforming the finance sector by enhancing fraud detection, boosting risk management, providing tailored financial guidance, and streamlining customer support. These bots also help optimize investment strategies and ensure adherence to regulatory standards.
• September 17, 2024: Infosys announced a strategic, long-term partnership with Metro Bank, a UK-based community bank, aimed at advancing the bank's digital transformation. As part of the collaboration, Infosys will deploy its AI-first platform, Infosys Topaz, to drive Metro Bank's operational digitization. This initiative will enhance the bank's digital capabilities, automate processes, and optimize data management, while also integrating advanced AI functionalities to streamline and modernize operations.

UK Artificial Intelligence in Finance Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, deployment mode, organization size, technology, application, and end use.

Component Insights:

• Solutions
• Services
   

The report has provided a detailed breakup and analysis of the market based on the component. This includes solutions and services.

Deployment Mode Insights:

• On-Premises
• Cloud-based
• Hybrid
   

A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes on-premises, cloud-based, and hybrid.

Organization Size Insights:

• Large Enterprises
• Small and Medium Enterprises (SMEs)
   

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes large enterprises and small and medium enterprises (SMEs).

Technology Insights:

• Machine Learning (ML)
• Natural Language Processing (NLP)
• Robotic Process Automation (RPA)
• Computer Vision
• Predictive Analytics
• Others
   

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes machine learning (ML), natural language processing (NLP), robotic process automation (RPA), computer vision, predictive analytics, and others.

Application Insights:

• Risk Management
• Fraud Detection and Prevention
• Investment/Portfolio Management
• Credit Scoring and Underwriting
• Personalized Banking and Customer Support
• Regulatory Compliance
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes risk management, fraud detection and prevention, investment/portfolio management, credit scoring and underwriting, personalized banking and customer support, regulatory compliance, and others.

End Use Insights:

• Banking
• Insurance
• Fintech
• Others
   

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes banking, insurance, fintech, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Artificial Intelligence in Finance Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK artificial intelligence in finance market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK artificial intelligence in finance market?
• What is the breakup of the UK artificial intelligence in finance market on the basis of component?
• What is the breakup of the UK artificial intelligence in finance market on the basis of deployment mode?
• What is the breakup of the UK artificial intelligence in finance market on the basis of organization size?
• What is the breakup of the UK artificial intelligence in finance market on the basis of technology?
• What is the breakup of the UK artificial intelligence in finance market on the basis of application?
• What is the breakup of the UK artificial intelligence in finance market on the basis of end use?
• What are the various stages in the value chain of the UK artificial intelligence in finance market? 
• What are the key driving factors and challenges in the UK artificial intelligence in finance?
• What is the structure of the UK artificial intelligence in finance market and who are the key players?
• What is the degree of competition in the UK artificial intelligence in finance market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK artificial intelligence in finance market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK artificial intelligence in finance market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK artificial intelligence in finance industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.