Digital Financial Reporting

People are starting to value quality. In an excellent article, A New Approach to Data Quality: Preparing for a RegTech, SupTech and AI Future, DFIN Solutions (Donnelley) make two important points.

The first point is this: (emphasis is mine)

Global reporting and compliance have remained document-bound for too long. With recent advances in artificial intelligence (AI) and other forms of machine learning, however, companies are poised to meet their regulatory and compliance requirements in completely new ways.

The article points out that humans are no longer the primary consumers of information.  For example, the SEC says that 85% of the documents visited in their EDGAR filing system are machines.

Second, they say is to make quality paramount. The article goes on to give numerious specific ways to improve the quality of reported information.  Why is the need for quality so important?  Because machines are dumb and if the information is not of high quality, the information those machines are using is basically garbage and not usable.