From cash management to real-time FX trading and hedging, a wide range of day-to-day treasury activities in 2030 will be automated and rely on artificial intelligence (AI) for tailored execution, allowing treasurers to spend more time contributing to strategic decision-making and getting ahead of future trends, and less time filling out spreadsheets or wading through reams of documents.
In 2021, we have already seen a number of leading treasury teams looking to embrace technologies such as robotic process automation (RPA) and AI in order to reduce their manual burden, only intervening when exceptions are needed.
Near total automation of day-to-day treasury activities isn’t a pipe dream – it will soon be reality, with a raft of technology providers and financial institutions lining up behind the cause. To achieve the level of treasury automation likely to be commonplace by 2030, treasurers’ attention will undoubtedly need to turn to systems set-ups and the availability of third-party solutions. After defining their goals and digital treasury vision, the next step is to understand and measure the capability of the treasury team – and assess the need to partner or outsource – in meeting those automation aims.
Highly automated systems thrive on real-time information, which will require treasuries to carefully look at the infrastructure used to deliver, manage, process, and analyse data. This means working closely with technology and financial partners to implement or augment a range of technologies and tools including application programming interfaces (APIs), AI and machine learning (ML), and distributed ledger technologies (DLT) to support more for more secure, interoperable, real-time services.