FRC: Artificial intelligence and corporate reporting
22 Jan 2019 01:37 PM
The Financial Reporting Lab (The Lab) has published the latest in its series of reports looking at how technology might impact the production, distribution and consumption of corporate reporting. The report, “Artificial Intelligence – How does it measure up?”, explains what artificial intelligence is, where its use might make sense in corporate reporting, and explores some of the possible and current use cases for the technology.
The report considers a range of uses of the technology, from AI tools in the finance function, to investors’ use of AI to find investment relevant information. It also highlights some of the key decisions and considerations that boards and others need to think about when using AI.
Phil Fitz-Gerald, Director of the Financial Reporting Lab, yesterday said:
“It is clear that Artificial Intelligence is becoming important in both the production and use of corporate reporting, and this is likely to increase in the future. However, it is the combination of AI. with other technologies, where the real benefits can be optimised for corporate reporting.”
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