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Citi report: Forecasting major changes in corporate finance in the next 3 to 5 years, DLT and AI will play a role
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2024-12-05 15:32 432
Golden Finance reported that Citi GPS released a report called "Finance 2030" that explores the future development direction of corporate finance functions. A survey found that 93% of corporate finance executives surveyed believe there will be major changes to corporate finance functions in the next three to five years, but more than half do not know what these changes will be. The report points out that artificial intelligence (AI) and distributed ledger technology (DLT) are two technologies that may drive this change. However, the current priority is improving access to data for decision-making. Two key changes are the move from batch processing to 24/7 activity, accompanied by automation driven by artificial intelligence. The report argues that corporate treasurers’ responsibilities need to extend beyond managing financial risk, cash and treasury. Given that collections and payments impact cash balances and are increasingly happening in real time, they say digital payment channels should fall under the purview of treasurers.
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