Cash Flow Acceleration with Generative Artificial Intelligence (Gen AI)
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© 2024 by IJCTT Journal
Volume-72 Issue-4
Year of Publication : 2024
Authors : Ashok Kumar Bera
DOI :  10.14445/22312803/IJCTT-V72I4P114

How to Cite?

Ashok Kumar Bera, "Cash Flow Acceleration with Generative Artificial Intelligence (Gen AI)," International Journal of Computer Trends and Technology, vol. 72, no. 4, pp. 111-115, 2024. Crossref, https://doi.org/10.14445/22312803/IJCTT-V72I4P114

Abstract
With the development of Generative Artificial Intelligence (GenAI), Robotic Process Automation (RPA), and other technologies, we have now entered the era of the digital economy, and financial services are rapidly developing in a more intelligent direction. This creates a need to learn about the applications of generative AI that will have the most impact and capitalize on emerging capabilities for the finance function of companies. On top of that, deglobalization and economic downturn have created a necessity to manage efficiently the company’s working capital, more specifically, its accounts receivable. Although there has been some automation in recent years in the account receivable process management due to the emergence of Robotic Process Automation (RPA), there is still a large amount of mechanical and repetitive human work, which leads to lower efficiency and affects the collection process of the company. The GenAI adoption can augment existing processes through narrative generation and collaborate with other automation tools for one-off analysis of large data sets across customer service and finance value chains to heighten accuracy in data management, create streamlined workflows, and empower quicker decision-making. It also reveals how AI-driven “Copilots” and “Assistants” empower to improve operational efficiency and effectiveness. This study helps to outline how generative AI and RPA can be leveraged combined to automate the end-to-end collection process without human intervention in order to minimize financial risk by accelerating the cash flow of companies.

Keywords
Generative Artificial Intelligence, Cash Flow, Copilot, Customer collection, Robotic process automation.

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