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.
EFRAG has launched its “State of Play 2025” portal, offering an interactive and data-rich look at the first wave of sustainability reporting under the European Sustainability Reporting Standards (ESRS), mandated by the Corporate Sustainability Reporting Directive (CSRD).
Too many AI tools analysing company financials are working with messy PDFs and unstructured text, leading to hallucinations and errors that could cost millions. Meanwhile, there’s a goldmine of clean, structured financial data sitting in XBRL filings that AI systems have (too often) been ignoring.
This guest opinion piece is from Janis Steinman. Janis is the Head of XBRL at Lucanet, a leading software house that provides CFO Solution Platforms to enterprises across the world. He is also the Chair of XBRL International’s Best Practices Board. Janis has collaborated in developing this article with José Antonio Huizar Moreno, the CEO […]
In the latest guest post on the XBRL International blog, Björn Fastabend, head of XBRL collection at Germany’s Federal Financial Supervisory Authority (BaFin), once again brings a regulator’s perspective on the practical challenges of integrating AI into digital supervision.
A new academic study led by Professor Ariel Markelevich of Suffolk University, published 3 July, puts artificial intelligence (AI) under the microscope by testing how well it reads financial statements.
This guest opinion piece is the third in a series from Björn Fastabend, bringing us a regulator’s perspective alongside a wealth of experience in digital reporting. Björn is head of the XBRL collection and processing unit at BaFin, Germany’s Federal Financial Supervisory Authority, where he supervises all related activities and leads the implementation of strategic […]
Auditing in the age of artificial intelligence (AI) has seen a watershed moment with the UK Financial Reporting Council’s (FRC) release of sign-of-the-times guidance on documenting and deploying AI tools.
Artificial intelligence promises to transform how we analyse financial (and other business) data, with major platforms launching ambitious tools to democratise investment insights. But behind the excitement lies a critical question: can AI actually understand what it’s reading?
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