The AI tool helped its clients create cash flow forecasts and analyses, which are typically conducted manually by experienced personnel. Tony Wimmer, the head of data and analytics at JPMorgan’s wholesale payments unit, told the news outlet that the work is “very complex.”
“Cash flow forecasting is very complex, and you need a lot of judgment,” Wimmer said. “I’m a firm believer that components of machines enhanced by humans will not go away for a long time.”
While the solution is promising, human input is still needed to manage the liquid funds. Regardless, Wimmer is still optimistic about the benefits of its AI-inclusive future.
“We’re going to keep investing into this solution because we see we’re really starting to crack this workflow,” expressed Wimmer.
The newly added feature is also not exclusive to the financial company. Its advanced cash flow tool is one of many in the market, including Bank of America’s CashPro, which tracks cash flows for free as well, as reported by Entrepreneur.
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Source: Black Enterprise
