{"id":4167,"date":"2024-10-04T06:52:44","date_gmt":"2024-10-04T11:52:44","guid":{"rendered":"https:\/\/www.emagia.com\/blog\/?p=4167"},"modified":"2025-06-10T04:29:46","modified_gmt":"2025-06-10T09:29:46","slug":"starting-down-the-path-of-automation-and-ai","status":"publish","type":"post","link":"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/","title":{"rendered":"Starting Down the Path of Automation and AI","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<style>@media (max-width: 768px){ .d-flex{flex-direction: column; padding:20px;}}<\/style>\n<div class=\"d-flex justify-content-between align-items-center position-relative\" style=\"border: 1px solid #badcff; border-radius: 10px; padding: 0 20px; margin-bottom: 20px;\">\n<div style=\"position: absolute; top: 0; bottom: 0; width: 100%; height: 100%; left: 0;\"><\/div>\n<h6 class=\"mb-0\">A recent episode of the Emagia AI For Finance podcast series<\/h6>\n<div class=\"mx-4\"><img decoding=\"async\" src=\"\/blog\/wp-content\/uploads\/2024\/11\/jennifer-blog.jpg\" \/><\/div>\n<h6 class=\"mb-0\">Starting Down the Path of Automation and AI<\/h6>\n<\/div>\n<p><em>\u201cIn every conversation we have today, the topic of automation inevitably comes up.\u201d <\/em><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-flat ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#the-importance-of-education\" >The Importance of Education<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#digital-assistants-enhancing-not-replacing\" >Digital Assistants: Enhancing, Not Replacing<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#achieving-everyday-success\" >Achieving Everyday Success<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#paving-the-path-to-acceptance\" >Paving the Path to Acceptance<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#faqs\" >FAQs:<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/#getting-started-with-ai\" >Getting Started with AI:<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>The use of automation and AI in business and finance has gone from a taboo topic in B2B credit years ago to the trend everyone wants to know more about, according to Jennifer Walsh, CEO of the National Association of Credit Management (NACM) Commercial Services affiliate.<\/p>\n<p>In a recent episode of the Emagia AI Finance podcast, Walsh spoke about how credit departments of wildly varying sizes and levels of expertise are approaching the early stages of AI and <a href=\"\/blog\/how-autonomous-finance-can-boost-profitable-growth-of-businesses\/\">autonomous finance<\/a> adoption. Like so many, she saw 2023 as a marked turning point in how companies are approaching AI in the western states covered by NACM Commercial Services and beyond.<\/p>\n<p>\u201cEveryone is now willing to talk about AI and explore how it can improve their business,\u201d said Walsh, a 25-year <a href=\"\/blog\/5-must-have-digital-technologies-in-your-business-credit-risk-management-platform\/\">business credit<\/a> veteran. And while initial resistance existed in areas like <a href=\"\/blog\/ai-in-transforming-digital-b2b-credit-applications\/\">credit applications<\/a>, the conversation has shifted, and automation is now a central topic for credit professionals.<\/p>\n<p>That said, Walsh noted caution remains embedded in the credit profession\u2019s DNA, which is leading to slow adoption and implementation in some quarters.<\/p>\n<p>\u201cCredit professionals, by their nature, are trained to be more cautious than their counterparts in sales or marketing,\u201d she said. \u201cThey have to protect the data they gather on debtors and make prudent credit decisions.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"the-importance-of-education\"><\/span><strong>The Importance of Education<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Walsh emphasized that education is crucial for professionals as they navigate AI and automation.<\/p>\n<p>\u201cWe\u2019ve taken an early stance that educating <a href=\"\/blog\/how-to-minimize-credit-risk-using-ai-driven-credit-automation\/\">credit professionals\u2014and our own staff\u2014about AI opportunities and risks<\/a> is key,\u201d she said.<\/p>\n<p>NACM has brought in legal experts to train staff and developed educational programs focused on AI for its members. Walsh has seen significant demand for education.<\/p>\n<p>\u201cIt\u2019s encouraging to see how many national and regional groups are asking for more AI training. Everyone wants to understand how it can improve their jobs,\u201d she added.<\/p>\n<div><a href=\"\/ai-for-finance-podcast\/episodes\/getting-businesses-started-down-the-path-of-automation-and-ai\/\"><img decoding=\"async\" src=\"\/blog\/wp-content\/uploads\/2024\/11\/jennifer-blog-2.jpg\" \/><\/a><\/div>\n<h3><span class=\"ez-toc-section\" id=\"digital-assistants-enhancing-not-replacing\"><\/span><strong>Digital Assistants: Enhancing, Not Replacing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With cautiousness comes the need for clarity on how AI will integrate into daily workflows. Walsh advises companies to communicate their stance on AI clearly to their teams. This helps set boundaries and ensures that employees understand the scope of the technology\u2019s capabilities.<\/p>\n<p>While platforms like ChatGPT are gaining popularity, Walsh stresses the importance of independent decision-making in the credit field. GiaGPT, Emagia\u2019s AI solution, differs from ChatGPT by only utilizing data provided by the user in a closed-cloud environment., without tapping into public information on the greater Internet. Closed-cloud solutions can give credit professionals more peace of mind in using it, assuming their own data is clean and reliable.<\/p>\n<p>Walsh notes the increasing interest in AI-based <a href=\"\/blog\/how-digital-assistants-are-boosting-o2c-productivity\/\">digital assistants<\/a> (or copilots) that can significantly reduce the time spent on routine tasks, allowing credit professionals to focus on more strategic work.<\/p>\n<p>\u201cIt\u2019s a gift to credit teams\u2014saving time on mundane tasks so they can focus on what truly matters,\u201d Walsh said.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"achieving-everyday-success\"><\/span><strong>Achieving Everyday Success<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Walsh encourages professionals to begin exploring AI by applying it to everyday tasks. From writing collection letters to performing public record research, AI can <a href=\"\/blog\/automated-payment-collection-software\/\">enhance efficiency<\/a> in small but meaningful ways.<\/p>\n<p>\u201cA successful outcome is for a credit person\u2019s routine tasks to become easier so they can spend more time <a href=\"\/blog\/cash-application-improves-cash-flows\/\">improving cash flow<\/a> and collaborating with sales and the C-suite,\u201d Walsh said. She believes that AI can help credit professionals become more integral to their companies\u2019 strategic goals.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"paving-the-path-to-acceptance\"><\/span><strong>Paving the Path to Acceptance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>AI has quickly become the hottest discussed trend in business circles for the last two calendar years. Still, adoption and implementation are not happening overnight, Walsh acknowledged.<\/p>\n<p>\u201cI see AI as a tool that will allow credit teams to do more with less, (but) some industries are going to be quicker to adopt than others,\u201d she observed.<\/p>\n<p>Comparing AI\u2019s growth to Google\u2019s rise in the early 2000s, Walsh expressed optimism about AI\u2019s trajectory.<\/p>\n<p>\u201cA year from now, it will be exciting to see how far AI has come and how companies are leveraging it.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"faqs\"><\/span><strong>FAQs:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>What is NACM?<\/strong> The National Association of <a href=\"\/blog\/ai-in-mitigating-credit-risk-for-credit-managers\/\">Credit Management<\/a> (NACM) was founded in 1896 and works to promote responsible commercial credit practices by providing education, advocacy, and support for credit professionals. Emagia is a preferred partner of NACM, and members of our senior staff have served in the capacity of exhibitors and expert speakers at various NACM events including its annual Credit Congress &amp; Expo.<\/p>\n<p><strong>What is ChatGPT?<\/strong> ChatGPT, developed by OpenAI, is a chatbot that generates text-based responses and provides assistance across various topics. It became one of the fastest-growing consumer applications, thanks to its ability to engage in complex conversations and offer real-time insights.<\/p>\n<p><strong>What is Emagia\u2019s GiaGPT?<\/strong> A 2023 offshoot of Emagia\u2019s proprietary digital assistant Gia that was originally launched in 2018, GiaGPT is Emagia\u2019s AI-powered <a href=\"\/blog\/how-financial-and-accounting-digital-assistants-improve-o2c-operations\/\">digital assistant designed to streamline finance operations<\/a> by offering fast, actionable insights through natural language interactions. It provides <a href=\"\/blog\/10-basics-of-data-analytics-every-modern-finance-leader-must-know\/\">finance leaders with visual data<\/a> analysis based on documents the user decides to upload rather than public information on the Internet. GiaGPT supports faster, data-driven decision-making.<\/p>\n<div class=\"p-5 border-radius-lg\" style=\"background-color: #e9f3ff; border-radius: 20px;\">\n<h3 class=\"mt-0\"><span class=\"ez-toc-section\" id=\"getting-started-with-ai\"><\/span><strong>Getting Started with AI:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Establish an internal AI policy to define boundaries and set clear expectations.<\/p>\n<p><strong>Start with initial applications like:<\/strong><\/p>\n<ul class=\"mb-0\">\n<li>Public record research<\/li>\n<li>Drafting collection letters<\/li>\n<li>Improving writing styles<\/li>\n<li>Formulating collection policies<\/li>\n<\/ul>\n<\/div>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>A recent episode of the Emagia AI For Finance podcast series Starting Down the Path of Automation and AI \u201cIn every conversation we have today, the topic of automation inevitably comes up.\u201d The use of automation and AI in business and finance has gone from a taboo topic in B2B credit years ago to the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.emagia.com\/blog\/starting-down-the-path-of-automation-and-ai\/\"> <span class=\"screen-reader-text\">Starting Down the Path of Automation and AI<\/span> Read More &raquo;<\/a><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":1,"featured_media":4168,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-4167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cash-application-automation"],"acf":[],"gt_translate_keys":[{"key":"link","format":"url"}],"_links":{"self":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/4167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/comments?post=4167"}],"version-history":[{"count":1,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/4167\/revisions"}],"predecessor-version":[{"id":6064,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/posts\/4167\/revisions\/6064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media\/4168"}],"wp:attachment":[{"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/media?parent=4167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/categories?post=4167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.emagia.com\/blog\/wp-json\/wp\/v2\/tags?post=4167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}