“AI deployment will add $15.7 trillion to global GDP by 2030.”
Kai-Fu Lee, AI Superpowers: China, Silicon Valley, and the New World Order
While 2030 is still over a decade away, it’s evident that Artificial Intelligence (AI) and Machine Learning (AL) will continue to play a major role in FinTech as well as the financial services industry in 2019. Given that AI and ML are being extensively used and enjoy high acceptance across industries, we wanted to take a look at how the adoption of AI and ML by FinTechs has been up until now. We also set out to understand who has been more aggressive and are at the forefront of the adoption and/or development of AI/ML technologies for their businesses.
For this article, we studied a list of ~350 unicorns globally, taking a close look at two distinct categories of AI and ML unicorns:
FinTechs that have been heavily leveraging AI and ML (through in-house development, partnerships and/or deals) to solve their problems
Core AI and ML companies catering to FinServs.
To begin with, we took all the 50 FinTech unicorns and put them through a...