Blockchain, chatbots, and AI could reinvent corporate finance

Over the next several years, CFOs and their finance organizations will be able to tap three key technologies to make their business processes better, faster and less expensive.

Traditionally siloed and manual corporate finance operations are beginning to test – and in some cases adopt – three still evolving technologies that can offer a single view of corporate data in near real time while also automating arduous business processes.

Blockchain, artificial intelligence (AI) and chatbot technology may not be fully baked yet, but they are already available for proof-of-concept testing and limited production rollouts in enterprise finance departments, according to a new report from Deloitte LLP. The sooner enterprises begin testing them, the better prepared they’ll be to move into production when the technologies mature, according to Deloitte.

“In business, robots are working alongside human beings to build cars, deliver packages, design computers, and make electricity. Blockchain is tracking supplies of diamonds and monitoring construction equipment. And smart machines are taking up residence in hospitals, shipping containers, drug stores, and more,” Deloitte said. “What does this have to do with the future of Finance? Everything.”

In general, the barriers to having real-time corporate information and deep insights now are tied more to legacy systems in mature enterprises. But newer companies have more options and are more likely to experiment.

To read more, please click on the link below…

Source: Blockchain, chatbots, and AI could reinvent corporate finance – Computerworld