Driving Treasury Excellence by Unlocking the Power of AI

AI is revolutionising corporate treasury operations by enhancing a host of critical functions such as cash forecasting, risk management, and fraud detection. Bank of America experts share insights on how AI can streamline processes, boost efficiency, and address treasurers’ concerns regarding its adoption, including implementation challenges, regulatory uncertainty, and data privacy demands.

Treasurers are not shy of applying technology to enhance their operations but – in a relatively short space of time – AI has emerged as both the most revolutionary and challenging development they have had to contend with in recent years. While the technology to date has broadly, though not exclusively, been adopted by resource-rich, larger organisations, it is widely anticipated that over the coming few years it will impact financial operations across businesses of all sizes.

For many treasurers, the fast-evolving technology still presents a major learning curve, especially regarding its technical aspects and implementation. The investment, tangible and intangible, and its adoption demands are areas of uncertainty for them. While recognising these as major challenges for treasurers Venkat ES, Head of Treasury Products, Asia Pacific, Global Payments Solutions, Bank of America (BofA), also believes they have much to gain from engaging with AI.

“There is no doubt that AI has the potential to revolutionise a host of corporate treasury operations. It is already demonstrating it can help treasurers better manage, for example, liquidity and risks such as FX and fraud in the real world. More broadly, it can help to radically transform how treasurers manage their financial strategies, enhancing both decision-making and their overall performance.

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