Sufficient data exists more often in payment experiences, for example. Here, one could try to quickly identify bad payers not only based on certain patterns. Based on payment behavior, an attempt could be made to identify how the risk of non-payment at the company in question is changing. This in turn could be included in a company rating.
Another aspect where we are really making progress with AI is text analytics. This is where information about a company from different sources which can be found on the Internet can possibly indicate that a company is experiencing economic difficulties and potentially payment difficulties. In the first steps, it can also certainly only be a "warning system" for the credit manager, which then needs to be verified by personnel.
If one has extensive quantitative payment time series of the regular customers, one could perhaps also make a better forecast of incoming payments than before. However, this task is extremely complex and requires further in-depth research before truly satisfactory solutions can be presented here.
If one has extensive databases available, then AI can support, for example, where different types of data are linked together. One currently interesting research topic is the question of whether classical financial statement analyses can be combined with the automatic analysis of text-based information, e.g., from appendices or analyst reports, in order to achieve better forecasting results. Here, a wide range of information can be considered in a complementary way. However, the improvements will be gradual rather than revolutionary.
Wherever flexible business processes exist in which the result depends on the path taken, patterns could also be included if there is sufficient data to identify which path should be taken and when. A typical example of this is the customer approach when demanding outstanding payments. What is the most successful approach?
In the future, it may be possible to use a customer or prospect profile to infer which payment methods should be offered or which hedging strategies should be adopted for the business in question.