EDMONTON, AB, June 25,
2024 /PRNewswire/ - AltaML earns its place on the
AIFinTech100 list for the second consecutive year, as recognized by
FinTech Global, reaffirming its status as one of the foremost
innovators in providing cutting-edge artificial intelligence (AI)
solutions tailored for the financial services sector and
beyond.
Reflecting the accelerated growth in the AI market, this year's
selection process was fiercely competitive, according to FinTech
Global. A panel of industry experts and analysts selected the
finalists after conducting extensive research on over 2,000
companies.
"As a well-established organization in this space, our goal is
to usher in a new era of AI technologies that drive efficiency and
innovation while ensuring ethical implementation for widespread
adoption across businesses," said Nicole
Janssen, Co-Founder and Co-CEO of AltaML. "The global
recognition of our work serves as a testament to our strengths and
the value we provide to our customers."
Since its launch in November 2022,
ChatGPT has revolutionized the way industries operate and perceive
business. In the past 18 months, countless financial institutions
have leveraged generative AI to reinvent traditional tasks, with
many expecting this trend to accelerate further.
Recent research highlighted by FinTech Global, shows the growing
investment within the FinTech space. The AI market size in FinTech
is projected to increase from $42.83
billion to $44.08 billion by
2024, and further to $50.87 billion
by 2029.
"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 personalized 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 and trading and
payments," said Richard Sachar,
Director of FinTech Global.
"Demonstrating a steadfast commitment to leadership within this
sector is paramount," added Duncan
Mundell, Head of Invent at AltaML. "Recognition from
industry peers further reinforces our efforts to consistently
deliver excellence. Given the rapid pace of this field, our teams
are dedicated to developing products that not only meet current
market needs but also anticipate future demands with innovative
solutions."
A full list of the FinTech100 companies can be found here.
About AltaML
AltaML is a leading artificial intelligence (AI)-powered
solutions developer. Working with organizations that want to use AI
to leverage their data to develop solutions that drive tangible
business results, AltaML empowers partners to create operational
efficiency, reduce risks, and generate new sources of revenue.
Through a deep understanding of organizational pain points and
challenges, AltaML's solutions encompass the entire machine
learning (ML) life cycle, from evaluating potential use cases and
determining feasibility to piloting solutions, putting code into
production, and ensuring model evolution.
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SOURCE AltaML