Expert.ai Recognized as One of the Most Innovative AI Technology Companies in Financial Services

News provided by

Jun 25, 2024, 06:30 ET

Expert.ai has been named in the 2024 AIFinTech100 in recognition of its state-of-the-art solutions and outstanding contribution to the financial AI technology landscape.

BOSTON, June 25, 2024 /PRNewswire/ -- Expert.ai, the industry leader in providing AI-powered language solutions to enterprises, has been named in the AIFinTech100, which recognizes the world's most innovative AI solution providers for financial services selected by a panel of industry experts and analysts.

According to the research firm FinTech Global, the AI market size in FinTech is expected to increase from $42.83 billion to $44.08 billion by 2024, and then to $50.87 billion by 2029. Banks are increasingly investing in AI, where they are expected to spend an estimated $4.9 billion on AI platforms by 2024, reflecting 21.8% annual growth since 2019. This year's AIFinTech100 list was chosen by a panel of industry experts and analysts from over 2,000 FinTech companies in this growing market.

FinTech Global Director Richard Sachar said, "Generative AI and Artificial Intelligence in general are opening opportunities in the financial services sector to not only get ahead of the competition but to also increase efficiencies and offer personalised products to clients. This year's AIFinTech100 list details some of the best and the brightest in this area who are developing AI applications in areas such as banking, insurance, compliance, customer experience, investment & trading and payments."

The solution providers selected for the 2024 AIFinTech100 list are recognized for using AI to solve a significant industry problem or to generate cost savings or efficiency improvements across the financial services value chain.

Leveraging a unique mix of AI and Generative AI, expert.ai solutions for banking and financial services streamline anti-money laundering activities, supporting know your customer processes by monitoring different sources of information, such as news, articles, social media streams, etc. Through advanced AI capabilities, help desk operators or customers can easily access needed information across specific websites or internal portals, discovering knowledge and insight. Expert.ai solutions also augment banking and financial professionals as they can leverage AI to enhance risk management processes and anticipate regulatory changes by automating workflows and tracking changes of interest so that they are up to date and compliant.

"This recognition is a testament to expert.ai's commitment to providing innovative AI solutions for the evolving financial industry that focus on solving business problems with a human-centric, responsible AI approach," said Umberto Pardi, Senior Executive Vice President EMEA at expert.ai. "Our inclusion in the AIFinTech100 is a source of great satisfaction for us and an added incentive for our continued focus on innovation in creating value for our customers."

A full list of the AIFinTech100 and detailed information about each company is available to download at www.AIFinTech100.com.

About expert.ai

Expert.ai is the leading enterprise AI company solving complex language challenges. Our solutions deliver key information for publishers, streamline operations for insurers, drive revelations for pharmaceutical giants, and enhance customer interactions within financial services – all while automating traditional labor-intensive methods. By combining deep domain expertise with the finest attributes of Large Language Models, Machine Learning, and Symbolic AI, we are at the leading edge of linguistic advancements in hybrid AI. With a global presence in Europe and North America, we proudly serve clients that include AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The Associated Press, Bloomberg INDG, and Dow Jones. For more information, visit https://www.expert.ai

SOURCE expert.ai