The Financial Services sector, valued at over $22 trillion globally, plays a crucial role in the economy. Key sub-industries include Banking and Financial Services, Venture Capital and Private Equity, and Insurance. Banking alone accounts for $8 trillion, while Venture Capital and Private Equity investments have seen exponential growth, exceeding $600 billion annually. The insurance market, valued at around $5 trillion, continues to expand as demand for risk management solutions increases. These sectors collectively drive economic stability, growth, and innovation worldwide.
6%
Generative AI is boosting bank revenues by 6% through the use of internal data to enhance efficiency across the underwriting process. To learn more about how banks are improving efficiency and capital allocation, download the report.
61%
Gen Z consumers would change banks for a better interface and user experience. Most banks are required to implement more robust, intuitive, and better-designed platforms for their clients due to the growing demand for improved functionalities in banking apps.
36%
Using AI models to source new leads and identify investment opportunities based on given parameters set by VCs is becoming increasingly prevalent. This approach not only enhances efficiency by handling large-scale data but also helps reduce bias in the investment process. By leveraging AI, VCs can discover high-potential investments that might have been overlooked, ensuring a more comprehensive and equitable evaluation of opportunities.
