The data readiness bottleneck
A recent survey by PwC, drawing on interviews with 50 Chief Information Officers in Germany, offers a glimpse of where AI adoption is getting stuck: the data.
Items tagged with "AI"
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IOSCO publishes supervisory toolkit for AI regulation
Global securities regulator the International Organization of Securities Commissions (IOSCO) has published a new supervisory toolkit to support regulators overseeing the use of Artificial Intelligence (AI) in capital markets.
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Digital-first reporting is key to AI-readability
In a recent webinar hosted by Friend Studio, XBRL International CEO John Turner joined reporting practitioners James Rennie, Group Finance Director of Oakley Capital, and Rory Nussbaumer, Global Sustainability Reporting and Strategy Manager at Corteva, to discuss why digital-first reporting is becoming essential in the AI era.
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AI needs better data, not bigger promises
As regulators around the world wrestle with how artificial intelligence can strengthen oversight of corporate reporting, XBRL US has delivered a clear statement to the Public Company Accounting Oversight Board (PCAOB): the future of audit supervision may depend less on flashy AI models and more on the quality of the data fed into them.
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The Known Unknown: A Regulator’s Perspective
In the latest instalment of his guest series for XBRL International, Björn Fastabend, head of the XBRL collection and processing unit at BaFin, Germany’s Federal Financial Supervisory Authority, shares a fascinating hands-on experiment in using AI to analyse XBRL data from the SEC’s EDGAR database.
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Don’t Drive to the Moon
Take a Volkswagen ID.4. Lovely car. Very sustainable. Now drive it to the moon and back. Nineteen times. You will need snacks. And… oxygen. You’ll also need roughly 2.7 million kWh of electricity, which, by a coincidence that borders on the poetic, is about how much AI energy just two jurisdictions will waste every reporting […]
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When AI Doesn’t Know What It Doesn’t Know: A Lesson in Financial Domain Knowledge
This guest opinion piece is the fourth 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 […]
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UK watchdog sets early benchmark for AI use in audit
The Financial Reporting Council (FRC) has published new guidance to support audit firms in deploying generative and agentic artificial intelligence (AI) tools, marking what it describes as the first guidance of its kind from an audit regulator globally.
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AI in accountancy: promise, caution and the quality question
The Institute of Chartered Accountants of Scotland (ICAS) has published a new report examining how accounting professionals are adopting generative artificial intelligence (Gen AI). The picture that emerges is one of cautious optimism, although real concerns about reliability continue to exist.
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Can AI track how corporate narratives change?
What if you could instantly see how a company’s story has changed from one year to the next? The final installment in our blog series on large language models (LLMs) and narrative disclosures explores exactly that question, showing how LLMs can be combined with structured XBRL data to compare narrative disclosures across reporting periods.
