New uses quickly launched…
Artificial intelligence has been the subject of amusing experiments for several months, and also its usefulness has been noticed by companies and could even become an indispensable tool in certain sectors. Thus, new features have appeared, with a speed rarely seen before. Some graphic solutions editors have quickly integrated the generation of graphic content (with a simple entry of keywords, or downloading images of inspiration) and have simplfied some manipulations, all thanks to the automation through AI.
With artificial intelligence, human imagination has no limits and a multitude of features are reachable. And all sectors are concerned! For companies that publish regulatory documents (financial, extra-financial, CSR reports, etc.), many uses are emerging. Because technology allows the automation of many daunting tasks. In the near future, it would be quite possible to imagine using AI to generate texts and/or illustrations.
AI for the benefit of third parties
It is also the same for third parties, and more specifically on the side of investors. Today, they go through many documents and spend many hours looking for information to help them make informed choices for their investments. These manipulations are laborious and time-consuming. It would therefore not be surprising to see the arrival of software offering automation of investment research, based on specific criteria, and relying on tagging technologies such as XBRL!
Companies are thinking about taking advantage of the power of automation, made possible in particular by artificial intelligence. Through its Lens solution, Corporatings makes searches more efficient, thanks to the use of tags. On the ESG side, solutions like MALENA are able to collect ESG information from companies and analyze it. This will help investors a little more in their decisions. Hence the importance of producing dynamic content on the issuers’ side…
A technology expected by the regulations…
In Europe, the xHTML format of the ESEF aims precisely at preparing the ground for an automated exploitation of data. The principle: to make all the data usable to guarantee their comparability. The future data lake of European financial data, the ESAP (currently under development), is part of this objective, with the desire to provide access to all this information and to simplify its search.
…And an expected regulation for the technology
As an emerging technology, artificial intelligence should also benefit from a defined regulatory framework. This is one of the causes mentioned in the moratorium request signed on Wednesday March 29 by nearly 2,000 personalities (including Elon Musk and Yuval Noah Harari). Thus, the regulatory aspect of AI will be one of the major and decisive challenges with regard to its rising, particularly in the context of compliance with the GDPR in Europe. This point will be a decisive element in the development of this technology for professional purposes, which companies will also have to take into account in their strategy.
In conclusion, artificial intelligence should accelerate the European strategy on ESAP. At the same time, it should have an impact on the process of creating financial reports, especially for text generation. Finally, it could position itself as an essential tool for financial data exploitation: it will allow more automation and save considerable time.