Artificial intelligence will impact everything. But one place it needs to expand thoughtfully—and with human management—is payment operations.
I also see a lot of potential for AI in payments where the risks of getting anything wrong are low. For instance, if a customer wants to know the status of a payment, automation and AI can easily handle that. Finally, I see a place for AI to help make smart decisions about putting money to work. Imagine that a company needs $1 million in cash at all times but is willing to put the other money to work in higher interest-bearing accounts. An AI-powered application could find those accounts and shift money in and out—all while making sure $1 million is at the ready.Reconciliation can be another place for AI, but most often, it has human guardrails around it.
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