Organizations using technologies
Treasury departments have embraced the somewhat lesser new technologies like RPA and API, whereas adoption of the newer ones – AI, DLT, and ML is lagging. Still, there is a substantial rate of 19% of treasurers who currently declare no use of any of the mentioned technologies.
Location of technology usage
Management reporting and cash management are the areas in which technology is applied the most. Adoption in other areas is far less. Notably, 33% of the respondents do not use any of the above mentioned technologies in any of these areas. With 19% that do not use those technologies, at least 14% of the respondents use the technologies in other areas.
Why organizations choose (not) to use technologies
Treasurers focus mostly on time and risk reductions and less on process improvement and evolution as reasons for using technology. There are various reasons for the limited adoption of these new technologies so far, with ‘no actual business case’ being the most mentioned, but other reasons being close by. We can see that time and budget constraints also play an important role in lagging innovations.
Interview – AI can change Treasury: ChatGPT
What can Artificial Intelligence teach us about Treasury? We decided to challenge ChatGPT, a commonly used generative pre-trained transformer (GPT) language model launched in November 2022 by OpenAI. We asked this chatbot a set of Treasury questions. The “interview” illustrated the usability of these chatbots in daily Treasury operations. Enjoy reading!
Share your story!
What was the most interesting result for you? How have you used AI in your Treasury function? Do you know of any new promising technologies, and how have current technologies changed your organization? What other experiences or opinions do you have on this topic? Please share them below or on LinkedIn to learn more from each other. We are excited to read your input.
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