A Citigroup forecast: significant changes in corporate finance will occur in the next 3 to 5 years, with DLT and AI playing a role

BlockBeats news, on December 5th, Citigroup released a report exploring the future development direction of enterprise finance functions. A survey found that 93% of the surveyed corporate financial executives believe that there will be significant changes in enterprise finance functions in the next three to five years, but more than half of them are unclear about these changes. The report points out that artificial intelligence (AI) and Distributed Ledger Technology (DLT) are two technologies that may drive this transformation. However, the current top priority is to improve access to decision-making data. Two key changes are shifting from batch processing to 24/7 activities, accompanied by AI-driven automation. The report believes that the responsibilities of corporate financial executives need to expand beyond managing financial risks, cash, and funds. Given that receivables and payments will affect cash balances and become increasingly real-time, they believe that digital payment channels should fall within the scope of the responsibilities of financial executives.