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人工智能和区块链 2.docx
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Artificial Intelligence and
Blockchain
The future of accounts receivable and credit management
Authors: Mark Speiser, Gary Mulherin, Kyle King and Shelly Clark
PAGE 1
TABLE OF CONTENTS
TOPIC PAGE
INTRODUCTION……………………………………...................……………. 2
ARTIFICIAL INTELLIGENCE:
What is Artificial Intelligence……………………….…………..……... 3
Components of Artificial Intelligence…………………………………. 4
Potential Benefits of Artificial Intelligence……………….……………. 7
Potential Challenges of Artificial Intelligence………………………….. 8
Big Data and Artificial Intelligence…………………………………….. 9
Robotic Process Automation……………………………………….…… 10
Existing & Future Artificial Intelligence Applications in A/R & Credit. 12
BLOCKCHAIN:
What is Blockchain……………………………………….……………. 14
How does Blockchain Work?.................................................................. 16
Potential Benefits of
Blockchain…….………………..………………..
19
Potential Challenges of Blockchain…………….……..……………….. 20
The Future of Blockchain in the Order-to-Cash Process…………….… 22
Smart Contracts……………………..……….………….……………… 23
Cryptocurrencies…………………………..…………….…………..…. 24
Internet of Things (IOT)……………………………………………..… 28
AI & BLOCKCHAIN IMPACT ON THE FUTURE OF A/R & CREDIT…… 30
APPENDIX:
Blockchain Glossary of
Terms………………………….…..………….
34
List of Acknowledgments and References……………………………… 39
PAGE 2
INTRODUCTION
Since the dawn of time and the first appearance of mans’ innovations, technology has
been ever present. Civilization formed new ways to communicate that advanced from
hieroglyphics, written scrolls, the printing press and the telephone. Societies also brought
forward new forms of commerce, developing from common forms of exchange (still the
underlying model for all business today) from fur trading to the Barter System, ultimately
to the creation of standardized currency, a financial banking system and a formalized
accounting system. The gradual but forward moving development of all of these events
was underpinned by new and progressive technologies driving them forward.
The beginning of the 21st century saw the introduction of a new communication
technology concept called the "World Wide Web" or "Internet" as it is known today. Its
usage and application seemed quite foreign to many, a seemingly futuristic idea. Yet,
today the use of the internet is commonplace, most everything we do, information we
seek, communication we transmit have been influenced by the internet. This form of
technology has brought about other innovations and applications (i.e. smart devices),
increasing speed and efficiencies and shortening distances. Yet, can you imagine the
inherent delays and stall of today's global business enterprise operating without the
development of the internet?
Technology and automation in B2B accounts receivable and credit management has been
growing over the past 5 to 10 years, as is evident with the technological growth and
proliferation of new automation solutions providers in this space. These things have
helped drive greater efficiencies that transcend into companies realizing reductions in
"We are at a point where all major financial
institutions have some form of innovation" ...."now
we are moving from an industrial economy to an
innovation economy".
Luis Noriega, Wells Fargo & Co.
DSO, past due receivables, and bad debt reserves, along with other cost reductions.
However, even with this technology and automation, most A/R and credit management
professionals still manage many manual, time-intensive and repetitive tasks in the order-
to-cash processes, while being challenged to do more with less.
This paper will address two new and developing technologies:
PAGE 3
•
Artificial Intelligence (including robotic process automation), and
•
Blockchain technology and its possible impact to the Procure-to-Pay process.
•
Finally, we will explore the impact these technologies may have on accounts
receivable and the credit profession at large.
ARTIFICIAL INTELLIGENCE
What is Artificial Intelligence?
The term ‘artificial intelligence’ was first coined by Stanford researcher John McCarthy,
one of the organizers of a conference held at
Dartmouth College in 1956.
1
McCarthy has
since come to be known as one of the
founding fathers of AI. The proposal for the
conference included the following claim:
every aspect of learning or any other feature
of intelligence can be so precisely described
that a machine can be made to simulate it.
2
Artificial intelligence (AI) describes the work process of machines that would require
intelligence if performed by humans. AI thus means ‘investigating intelligent problem-
solving behavior and creating intelligent computer systems.’
3
There are two kinds of artificial intelligence:
•
Weak artificial intelligence (A.K.A. Narrow AI): AI that has no power of
perception that is focused on narrow tasks. All currently existing systems
considered artificial intelligence of any sort are week AI. Siri and Alexa are good
examples of narrow intelligence.
4
•
Strong artificial intelligence: The processes in the computer are intellectual, self-
learning processes. Computers can ‘understand’ by means of the right
software/programming and are able to optimize their own behavior on the basis of
their former behavior and their experience.
5
Strong AI’s goal is to develop
artificial intelligence to the point where the systems intellectual capability is
1
Advisory Board. (2017, April). Artificial Intelligence and Robotics and Their Impact on the
Workplace. IBA Global Employment Institute, pp. 9-10
2
ReceivableSavvy (2016) Artificial Intelligence and Robotic Process Automation in Accounts
Receivable Are Here to Stay [Online]. Available: https://www.receivablesavvy.com/blog/ai-and-
rpa-in-ar-here-to-stay/
3
See Reference #1 above.
4
Karau, B. (2017). Artificial Intelligence in the Credit Department [Online].Available:
https://nacm.org/pdfs/webinars/5-24-17-artificial%20IntelligenceNACM.pdf
5
See Reference #1 above.
PAGE 4
functionally equal to humans. Currently, no computers on the market exhibit full
AI.
6
AI is mostly being developed to perform tasks that usually require human intelligence,
such as visual perception, speech recognition, translation between languages and
decision-making. AI is a set of very powerful business tools that can be used to solve
business problems. In today’s business world and the future, AI will assume increasing
responsibility as work forces change and managers are forced to do more with less.
The emergence of mobile phones, tablets, social networks and wearable electronic
devices has made (weak) AI applications more practical and easy to access. The reality is
that artificial intelligence is now very much a part of our everyday lives.
The advancement of intelligent technologies in recent years means that individuals and
organizations no longer must rely solely on manual intervention to accomplish learnable
tasks. Some examples of how AI has made its way into our everyday lives include:
7
•
The introduction of virtual personal assistants such as Amazon’s Alexa, Siri on
iOS phones and tablets, and many other applications. Why take the time to look
things up on your browser or dial that best friend when you can simply have Siri
do it via voice command.
•
Fraud reduction through AI tools that can learn a user’s habits by following their
behavioral patterns and warning of any inconsistencies.
•
Recommendations for movies and music from providers like Netflix and Spotify.
Watch enough movies and listen to enough music and these providers will
leverage technology that can now make recommendations based on your habits.
Smart appliances and devices that can anticipate your needs in your home, lights that
come on and burn at certain brightness or thermostats that adjust the temperature based
on your home activity are just some of the mundane but repetitive tasks AI-enabled
appliances and devices can manage.
8
As more AI systems appear, new names are being
used in collaboration, which includes machine learning, reasoning, robotic process
automation (RPA), to name a few.
Components of Artificial Intelligence:
What qualifies as intelligence? Research in AI has focused on five key components of
intelligence. While some of these elements may seem self-evident as a single item, they
must work in conjunction with each other to qualify as Artificial Intelligence.
6
See Reference #4 above.
7
ReceivableSavvy (2016) Artificial Intelligence and Robotic Process Automation in Accounts
Receivable Are Here to Stay [Online]. Available: https://www.receivablesavvy.com/blog/ai-and-
rpa-in-ar-here-to-stay/
8
See Reference #7 above.
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