We found food for thought on the subject of predictive data analytics this week in remarks by Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), before the SEC’s Asset Management Advisory Committee.
Our colleagues at XBRL US have published an interesting comment letter addressing the question of why standardised, machine-readable data is essential for reliable, useful outcomes from artificial intelligence (AI).
“The bottom line about the double bottom line is that investors don’t have to make performance concessions to achieve sustainable outcomes. ESG data is an indicator of future performance potential and should be incorporated into the investment mosaic of all the different types of data that are used to predict performance.”
Do you use artificial intelligence (AI) to analyse data? Are robots your new best friends, or do you have concerns about the risks and challenges? If you’re in the US, the government wants to hear from you.
EY has published the results of its ‘2020 EY Global Financial Accounting and Advisory Services (FAAS) corporate reporting survey,’ with a number of interesting insights into how the reporting landscape is changing. It is based on responses from more than 1,000 CFOs, financial controllers and other senior finance leaders.
The Bank for International Settlements’ Innovation Hub (BISIH) has a new work programme for 2020/21, its second full year, aiming to foster international collaboration among central banks on innovative financial technology.
How do you spot financial reporting errors or attempted fraud before they grow into problems? And – when serving a population of over 1.3 billion people – how can you both boost data quality and make the reporting and review process as efficient as possible? For the Institute of Chartered Accountants of India (ICAI), the […]
Touted as one of the big innovations set to shakeup the coming decades, artificial intelligence (AI) and machine learning (ML) are playing an increasingly central role in financial reporting and analysis. With the age of big data meaning the volume of data sets is growing ever larger, it helps to have a computer aid with the analysis.
How do reporting firms talk when they know that the machines are listening? A new working paper from the National Bureau of Economic Research (NBER) is the first of its kind to take a look at how increasing machine and AI readership is altering the way companies write their financial reports.
Shenzhen, China’s southern metropolis, is named after the rice paddy drains, or ‘zhen’, that once stretched across the landscape. Today, where mere decades ago sat a small fishing village, Shenzhen is a city of over 11 million inhabitants, known as China’s answer to Silicon Valley.
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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.
