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Treasury Races Toward AI

Artificial intelligence has great potential, but treasurers must learn to jog before they can sprint.

By Mark O'Toole | Updated on October 26, 2017

Every so often, a once-in-a-generation technology comes around that divides opinion across the business and academic worlds. It’s hard to think of a recent technology that encapsulates this split opinion more than artificial intelligence (AI). To some, it represents everything from driverless cars for the masses to finding a cure for cancer. To others, such as Stephen Hawking, it could spell the end of the human race as we know it.

The debate is music to the ears of academics and philosophers. But for corporate treasurers immersed in the day-to-day pressures of reducing costs and boosting the top line, does AI really have anything to offer?

The truth is that true artificial intelligence is currently pretty far removed from corporate treasury. No finance officer today has the budget to overhaul their technology stack by splashing cash on AI. And treasurers would be wise to proceed with caution; it wouldn’t be a good idea to drink the AI Kool-Aid too early. Nevertheless, companies already have the opportunity to cherry-pick certain aspects of AI that can drive cost reductions and revenue growth.

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