Citi Perspectives 2024 Corporates Edition

10 | Services Citi Perspectives A focus specifically on women’s health is another area that is attracting a lot of attention, and investments. Existing inequities in the quality of care for women and minority populations are attracting innovative technology developments that bode well for the future. Artificial intelligence is already making waves Artificial intelligence (AI) is already making an impact across the healthcare industry. On the clinical side, AI is being used as a powerful tool for advancing research and development for new pharmaceutical and biomedical treatments. This technology is cutting the time and cost of creating breakthrough therapies. AI is also being applied to the improvement of healthcare administration, which has long been the bane of the industry. A recent study found that 36% of U.S. clinicians spend more than half their time on administrative tasks. 6 Implications for healthcare treasury As the healthcare industry continues to transform, payments and cash flows are, out of necessity, evolving in response. In today’s digital economy, businesses of all kinds are facing the need to be prepared to take advantage of real-time, 24/7 payment flows. This is made more complex when treasury organizations must factor in cross-border payment and liquidity needs. Fortunately, emerging payment technologies are solving these types of problems. For large healthcare organizations that have treasury operations around the world, being able to optimize liquidity is critical for effective working capital management. The emergence of digital asset solutions is helping solve the problem of trapped liquidity due to misaligned cutoff times and a lack of visibility, which hampers cash forecasting. 6 Citi Global Insights Source: https://www.citigroup.com/global/insights/global-insights/ai-in-healthcare-health-administration- “For large healthcare organizations that have treasury operations around the world, being able to optimize liquidity is critical for effective working capital management .” Ryan Rugg Global Head of Digital Assets, Citi Treasury and Trade Solutions