Welcoming the New Co-Worker
This article forms part of TMI’s new Guide to AI in Treasury. Sign up here to receive your complimentary copy once it is published.
AI is transforming corporate treasury and enabling data-driven decision-making. From cash forecasting to risk management, AI-powered solutions are reshaping treasury practices, empowering organisations to drive growth, and optimise working capital. However, ethical considerations and responsible governance remain crucial in leveraging AI’s potential as it transforms roles within treasury.
In 2023, AI has truly captured the zeitgeist, driven by the advance of Generative Pre-trained Transformers (GPT), in particular, OpenAI’s ChatGPT. The ethics around AI have been questioned, with the ‘godfather of AI’ Geoffrey Hinton quitting Google in May with a warning about the potential for the technology to be exploited by bad actors. In the same month, Sundar Pichai, CEO of Google and Alphabet, commented that the firm was at “an exciting inflection point” as an AI-first company.
AI tools are already being used in various industries, from assisting with drug discovery in healthcare to guiding autonomous vehicles in transportation, helping with process automation in manufacturing and optimising energy grids in the utilities sector.