skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Article related to:


Outlook 24: AI, cybercrime & real time

Head of Wholesale Digital at ANZ

2023-12-20 00:00

The digitisation of treasury will continue in 2024 on three key fronts – the growth of artificial intelligence (AI), improved awareness of cybercrime, and the increasingly real-time nature of payments.

AI is already attracting a lot of hype. In July, a McKinsey study suggested the tech could benefit businesses globally by around $US4.4 trillion.

Of course, humans will always have a role to play. We’re already seeing the ‘copilot’ model used in the global engineering space, with reported gains of around 30 per cent and 40 per cent.

It’s only a matter of time before the big tech groups start rolling out co-pilot products to businesses. Think about the impact that will have on the global economy.


The second theme to watch in 2024 is cybercrime. Cyberfraud is the scourge of the internet, impacting Australians to the degree of $A3.1 billion in 2022.

Two of the biggest areas are device takeovers and investment scams, key areas for businesses to be wary of. Education, and collaboration, will be the key to fighting back.

My final theme for 2024 is payments. Expect two big themes in payments to play out during the year.

The first is the rise of PayTo. PayTo will revolutionise the Australian direct-debit scheme, something that hasn’t really changed for 50 years. The tool will create massive opportunities for consumers, allowing them to better control the debits they pay to utilities and other providers.

The second key payment theme is the use of real-time payments to meet payroll obligations. For businesses, being able to transition your payroll into real time and make payments when it's meaningful to you and your employees is going to be a big thing we’ll see over the next 12 months.

Leigh Mahoney is Head of Wholesale Digital at ANZ

Outlook 24: AI, cybercrime & real time
Leigh Mahoney
Head of Wholesale Digital at ANZ
Sign up
Icon of ANZ logo coming out of an envelope

Receive insights direct to your inbox


Related articles

This publication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZBGL”) in Australia. This publication is intended as thought-leadership material. It is not published with the intention of providing any direct or indirect recommendations relating to any financial product, asset class or trading strategy. The information in this publication is not intended to influence any person to make a decision in relation to a financial product or class of financial products. It is general in nature and does not take account of the circumstances of any individual or class of individuals. Nothing in this publication constitutes a recommendation, solicitation or offer by ANZBGL or its branches or subsidiaries (collectively “ANZ”) to you to acquire a product or service, or an offer by ANZ to provide you with other products or services. All information contained in this publication is based on information available at the time of publication. While this publication has been prepared in good faith, no representation, warranty, assurance or undertaking is or will be made, and no responsibility or liability is or will be accepted by ANZ in relation to the accuracy or completeness of this publication or the use of information contained in this publication. ANZ does not provide any financial, investment, legal or taxation advice in connection with this publication.