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Role of Explainable AI in the Banking and Financial Services from www.xenonstack.com
In 2025, the finance sector will broadly start displaying many of the amazing operational efficiencies and capability gains well-implemented AI really can deliver According to Yahoo Finance, as of 2024, AI in the finance market stands at $38.36 billion and is expected to reach $190.33 billion by 2030, growing at an impressive 30.6% CAGR.
Role of Explainable AI in the Banking and Financial Services In 2025, AI enables finance teams to not only keep pace with the demands of a rapidly changing market but to stay ahead—streamlining processes, uncovering deeper insights, and delivering strategic value AI adoption in finance surged from 45% in 2022 to an expected 85% by 2025, with 60% of companies using AI across multiple business areas 21 Conclusion and key recommendations 18 Shifts in financial reporting 15 Overcoming barriers to AI usage Contents 03 Foreword 10 How AI leaders drive ROI 04 Research background 05 AI maturity framework 07 Transforming finance through AI ©2025 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International.
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