Citi report: predicts that corporate finance will undergo major changes in the next 3 to 5 years, and DLT and AI will play a role
Citi GPS has released a report titled "Financials 2030" exploring the future development direction of corporate finance functions. A survey found that 93% of surveyed financial executives believe that there will be significant changes in corporate finance functions in the next three to five years, but more than half of them are unsure of what these changes will be.
The report points out that artificial intelligence (AI) and distributed ledger technology (DLT) are two technologies that could drive this change. However, the current top priority is to improve access to decision-making data. Two key changes are shifting from batch processing to 24/7 activity, accompanied by AI-driven automation. The report believes that the responsibilities of corporate finance executives need to be expanded to include managing financial risks, cash, and funds beyond. Given that receipts and payments affect cash balances and are increasingly real-time, they suggest that digital payment channels should fall within the scope of the financial executive's responsibilities.
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