Interesting post from Rob Riche of Friends Studio this week. The convergence of AI and structured data is creating entirely new opportunities for financial reporting, and in the UK and Europe, ESEF is positioned at the heart of this transformation.
As negotiations on the final rules under the Corporate Sustainability Reporting Directive (CSRD) continue, some Members of the European Parliament are asking whether artificial intelligence (AI) could replace digital reporting.
This article was originally published on LinkedIn here. AI is an extraordinarily important new technology, but it is not a magic wand. As the CSRD negotiations enter their last stages, some MEPs are wondering whether AI can replace digital reporting. The answer is ‘no’, but it is its natural complement. As the EU seeks to encourage […]
Sustainability reporting is at a crossroads. Countries around the world are adopting sustainability and climate reporting standards, but most of that information is trapped in PDFs. That means slower, more expensive analysis, and a missed opportunity to harness the full power of growing volumes of sustainability data.
AI might grab the spotlight, but data runs the show. Without structure, even the most advanced models are guessing rather than learning. Canon’s Norihiro (Nick) Katagiri made that point clearly in a recent iTNews Asia interview, reminding businesses that successful AI depends on solid, well-organised data from the start.
Dr Maria Mora, Head of Innovation & Digital Strategy at Fujitsu Spain and a member of XBRL International’s Board of Directors, offered a compelling takeaway from this week’s IFRS Taxonomy Consultative Group (ITCG) meeting in London: the era of intelligent reporting is here, and XBRL is its foundation.
SRC Digital Insurance Services has launched a research initiative to explore whether artificial intelligence can reliably convert US Department of Transportation (DOT) “Application for Payment” PDF reports into XBRL data.
One of the big possibilities we’ve been talking about as the AI revolution unfolds is the prospect of interacting with XBRL data – and getting accurate, decision-useful insights – using AI chatbots, without the need for in-depth technical analytics skills. That future is already here.
Following their recent experiment with Johnson & Johnson’s financials, XBRL US has taken their AI testing into the energy sector, asking whether structured data improves how large language models handle public utility filings.
Artificial intelligence is very good at producing answers. The problem is, without structured data, it often doesn’t know if those answers are right.
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