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Artificial Intelligence and corporate reporting

Artificial Intelligence and corporate reporting

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SUMMARY

This report predicts artificial intelligence (AI) is a solution to complex corporate reporting, including production, distribution, and consumption of corporate information. 

What is corporate reporting? Corporate reporting is a tool to establish trustworthy and transparent evidence of a company’s financial position and performance. Rules, regulations and assurance communications exist in the company’s annual report and regulatory documents. Yet how can AI help corporate reporting?

AI can help corporate reporting, which is a complex and effective process. The report analyzes three specific corporate reporting challenges: i) recording and aggregating multiple transactions and then turning that data into an external communication; ii) supplying internal or external assurance over the resulting communication; iii) consuming the data reported of the company and leveraging information into insight and action. Potential uses for AI in corporate reporting include production, distribution, and consumption. AI is a potential solution to these challenges.

Although AI is a highly sought digital tool for corporate reporting, data needed for reporting is often not digitized. The information a company reports from its corporate reporting process is generally paper-based. As a next step, corporate reporters, users, and regulators might discuss how to instill openness, structure, and reuse into new and existing corporate reporting requirements. 

AI can process tasks quickly, analyze large amounts of data, and effectively make decisions. All AI use cases in corporate reporting rely on quality data and accounting, technology and administrative skills. This brief pinpoints a need to connect AI skills directly into governance, finance, management, advisors and regulators through training and development. All corporate stakeholders must cooperate to realize how AI-enabled reporting can evolve to maintain quality, trusted corporate reporting.

OUTLINE

AI basics

AI and corporate reporting

Conclusion and actions

Appendices

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Artificial Intelligence and corporate reporting
Region
Global
Published
Jan. 15, 2019
Publisher
3D Hubs , LAB
Price
FREE
Language
ENGLISH

Content

Number of Pages
27
Number of Tables
5
Number of Exhibits
14
Topics
ai
Tags
3D Hubs, AI applications, audit, corporate communication, corporate reporting, LAB, regulation
Methodology
This report follows a LAB survey in 2016 that asked what technologies would be important for the future of corporate reporting. Respondents concluded AI as important for the production and consumption of corporate reporting. The report explores potential use cases that AI has for corporate reporting.
EVALUATION

This reader-friendly report includes plenty of visual information and visual cues to express potential artificial intelligence use cases in corporate reporting.

While corporate reporting does not stand out as an engaging ICT topic, LAB publishers embed this brief with highly engaging information and data that will not lose readers. For instance, textboxes, flowcharts, and symbols attract reader attention, potentially saving time through highly informative visuals.

Positives:

  • Effectively uses visual information
  • Clear writing
  • Well organized

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