Press release: AI expected to boost banking revenue by $301bn by 2030
Published: Aug 2024
26th August 2024 – According to Stocklytics.com, AI will augment banking revenues by $301 billion by 2030.
The site’s financial analyst, Edith Reads, comments:
“Banks’ trial run with AI have proven successful, signalling a growing trend of AI adoption across the banking sector. The improvements in productivity and customer experience brought about by AI have increased the attractiveness of banks, contributing to this substantial revenue growth.”
In 2023, the banking industry saw a massive $143 billion added to its earnings belt due to AI’s contribution. By the end of 2024, the banking industry is expected to earn even more revenue, roughly $164 billion, from AI’s value addition. North America’s financial hub will benefit the most from the revenue spike, with $49 billion earned from AI in 2024. Asia Pacific will also earn $49 billion, while Europe’s banking sector is projected to gain an additional $47 billion. The full story and statistics can be found here: AI Expected to Boost Banking Revenue by $301 Billion by 2030.
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