It is predicted that the artificial intelligence (AI) market in the domestic financial sector will grow 38.2% annually in the future.

It is predicted that the size of the financial AI market, which is 600 billion won as of last year, will expand to 3.2 trillion won in 2026.

The Korea Credit Information Service recently announced the ‘Financial AI market outlook and utilization status:

Financial companies are actively introducing AI to secure competitiveness.

Financial AI is classified into four types according to the purpose of introduction.

1. Create new revenue streams through massive data processing

2. Increase customer value by providing personalized services

3. Reduce costs by automating business processes

to respond effectively

The domestic banking sector mainly uses AI in processes such as credit rating, asset management, robot process automation (RPA), detection of abnormal transactions, risk monitoring, and civil complaints.

In the future, we will provide a differentiated user experience in terms of services or reduce the operating costs of financial companies

Shin Jung-won predicted that AI technology will expand.

Leave a Reply