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.
The European Central Bank (ECB) is starting to use artificial intelligence (AI) to enhance its operations. As AI continues to evolve, it offers interesting potential for a range of central banking tasks, including data analysis, risk management, banking supervision, and monetary policy analysis.
It’s been said that artificial intelligence – AI – replaces the need for structured data, but we believe that idea could not be further from the truth. It is certainly possible to skip digital tagging and use AI to get answers out of unstructured data, but they are often not very good answers.
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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.
