Harnessing AI to help business customers get paid

Many corporations still have manual steps in the way they process outstanding invoices. But Rodney Gardner of Bank of America Merrill Lynch -- and other bankers -- are starting to offer their corporate clients a way to automate the handling of incoming payments. The service is proving to be valuable both for the banks and the corporations. Gardner invites clients to give him a ledger of a month's worth of the money owed to them by their customers. He then runs the information through a system of cloud-based software that BofA calls Intelligent Receivables.