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Is voice activated cash management possible?

Amazon’s Echo unit connects to their Alexa-cloud-based voice service which plays music, makes calls, sets alarms and timers. You can ask Alexa questions; check - your calendar, weather, traffic and sports scores; manage to-do and shopping lists, control compatible smart home devices, and more. Alexa is higly impressive, but there are still glitches: 

  • A young boy kept yelling “Batman” in the room where an Echo unit was, somehow Amazon then ordered a Batman outfit even though his mother had not ordered anything
  • a six-year-old girl made the mistake of asking Alexa: “Can you play dollhouse with me and get me a dollhouse?” Alexa promptly complied by ordering a $170 (£140) KidKraft doll’s house and, for reasons known only to the virtual assistant, four pounds of sugar cookies
  • Alexa has hi-jacked owner’s thermostats
  • Owners have forgotten to PIN protect their Alexa and other people have ordered stuff without asking them
  • Owners have found difficulty in turning Alexa off.

This is quite amusing and relatively little damage was done, but in a company the damage could be vaste. 

Voice activated cash management 

The scale and depth of functionality required to carryout voice activated cash management and other related activities requires huge, complex and advanced technologies. It includes, for example:

  • Ability to merge all the offline historic data with the near-real-time data
  • Cognitive agents to understand and analyse this data
  • AI to understand queries and construct responses
  • Ability to understand different accents and dialects.

But voice activated cash management is not as far away as you might think………

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This item appears in the following sections:
Global Cash & Liquidity Management
Order-to-Cash Cycle in WCM
Procure-to-Pay Cycle in WCM

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