Finance Embraces Gen AI but Stops Short of Autonomous Cash Management

AI is no longer a futuristic concept for your finance department; it is becoming the standard for managing how money moves through your business. New data shows that Gen AI use for cash flow management skyrocketed from 16% to 80% in just one year. For retailers and service providers, this means your competitors are likely using these tools to predict when customers will pay and to identify potential shortfalls before they happen. However, the industry is drawing a hard line at 'autonomous' finance. While AI is great at crunching numbers and flagging risks, human operators are keeping their hands on the wheel when it comes to actually moving money or making final credit decisions. For your business, this suggests that adopting AI tools can significantly speed up your back-office work, but you shouldn't expect to fire your finance manager just yet. The focus is on 'augmented' intelligence—using AI to provide better data so humans can make faster, smarter decisions about lending, collections, and reinvestment. If you are still relying on manual spreadsheets to track your incoming consumer payments, you are quickly falling behind the efficiency curve.

Source: PYMNTS

← Return to the library· Submit a correction