Reporting & AI: why digital-first matters. Key takeaways from the Investor Relations Society’s webinar

At the IR Society’s webinar “Reporting & AI: why digital-first matters”, we discussed how and why annual reports need to evolve for the AI era. 

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At the IR Society’s webinar “Reporting & AI: why digital-first matters”, we discussed how and why annual reports need to evolve for the AI era. 

Alongside Friend Studio’s Clive Bidwell and Vicki Wright were Jon Rowden, Director at Reportl, Tom O’Hara, Investment Director, European Equities at GAM Investments, Thomas Toomse-Smith, Head of Innovation and Digital at the Financial Reporting Council and Matt Hall, CEO of the IR Society.

 

Here are some of the key takeaways from the session:

 

AI is now a principal audience for annual reports

While we know that humans read annual reports, AI is now a principal reader for most annual reports, so making sure your report works for AI is key.

 

Design for AI discovery

Preparers can optimise their report for AI by enhancing the findability of data and information. Measures that can help include:

  • Using transparent, specific and clear language 
  • Structuring and formatting content in an AI-friendly way
  • Ensuring that information and data is consistent across different channels so AI doesn’t get confused
  • Having a good quality process and output that is tested for both audiences
Digital-first means digital at the source — not digital as an add-on

Digital-first reporting isn’t a summary online report or adding reporting content to the corporate website. It’s reporting that’s created in a digital format, in native HTML delivering the data quality that AI needs. It’s one source of content that delivers multiple outputs: the full HTML report, the ESEF/iXBRL filing, the PDF and print-ready artwork.

 

Make your report the source AI trusts

Investors are increasingly using AI to research companies. Structured HTML and iXBRL make your approved, audited information easier for AI to find and understand — reducing reliance on third-party sources.

 

Digital-first is better for everyone — and faster to produce

Digital-first reporting means less duplication, fewer errors and greater efficiency for reporting teams, a more accessible and engaging experience for investors and higher-quality, compliant data for regulators.

 

Digital reporting has reached an acceleration point

AI creates a purpose for digital reporting standards that have existed for a long time but haven’t been easy to access and process. AI can now make the richness of digital information and data useful for decision-making. 

 

And further change lies ahead

Significant change for digital reporting is expected via proposed changes in the Modernising Corporate Reporting consultation. Suggested changes include a new director sign-off to formally approve the digital tagging at the same time as everything else, and a new auditor sign-off on digital formatting.

 

Like to know more about how you can prepare for digital-first reporting?

We would love to hear from you.

 

 

 

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