In an increasingly online world, the need to verify legal entities accurately is paramount. Enter artificial intelligence (AI), a transformative technology that holds the promise of automating entity verification and monitoring, thereby reducing the risk of fraud and criminal activities.
In response to evolving challenges in the financial landscape, the International Organisation of Securities Commissions (IOSCO) has unveiled its updated work plan for 2024. This revised plan introduces fresh initiatives aimed at addressing emerging trends, including, among others, artificial intelligence (AI) and green finance.
Or at least that’s the message from a recent Forbes article written by Kevin Campell, CEO at Syniti. In an era of digital transformation, organisations worldwide are recognising the pivotal role of data in driving innovation and achieving business success.
Breakthrough analytics are just around the corner, as innovators bring AI and XBRL together. AI is an incredible tool for turning data into ideas – but good ideas need good data. XBRL brings accuracy to the table while AI brings efficiency, adding up to a revolution in business analysis. XBRL data strengthens AI models and […]
A recent report by Forrester reveals that data quality is now the primary factor limiting the adoption of generative artificial intelligence (GenAI) across industries. Since the emergence of GenAI, particularly with the release of ChatGPT in 2022, businesses have been eager to explore its potential for various use cases.
James Benford, Executive Director for Data and Analytics Transformation and Chief Data Officer at the Bank of England, recently outlined the Bank’s ongoing journey to refresh its data and analytics strategy.
A couple of weeks ago we commented unfavourably on the use of PDF versions of SEC filings as inputs to Large Language Models (LLMs). We are much more interested in how these tools can be leveraged to examine structured data.
A couple of weeks ago, in the XBRL International newsletter, we commented unfavourably on the use of PDF versions of SEC filings as inputs to Large Language Models (LLMs). We are much more interested in how these tools can be leveraged to examine structured data, such as the Inline XBRL formatted structured filings provided to […]
One item in particular over the holiday break caught our attention. Research by Patronus AI highlighted apparent challenges faced by large language models (LLMs), such as OpenAI’s GPT-4, in analysing financial data contained in US Securities and Exchange Commission (SEC) filings.
Continuing the theme, the Financial Reporting Council (FRC) recently released a research report delving into the increased uptake of Artificial Intelligence (AI) and Machine Learning (ML) in the UK actuarial landscape.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
