Finance leaders worldwide are concerned about the integrity of corporate reporting data, but the 2024 EY Global Corporate Reporting Survey reveals growing optimism that artificial intelligence (AI) could provide crucial solutions.
The survey explores the views of more than 2,000 finance leaders and 815 institutional investors worldwide on the state of corporate reporting. It assesses the major challenges business are facing in financial and nonfinancial reporting.
The report finds that more than half of investors (57%) believe that AI could prove useful as a tool to assess the credibility and accuracy of financial and nonfinancial disclosures, while 52% think it could be used to assess alternative data. Fifty-one percent believe AI could help spot discrepancies in company disclosures.
Two-fifths of finance leader respondents (43%) say they are enthusiastic about using AI in corporate reporting, however, more than one-quarter (29%) say they are holding out until the technology risks are better understood. See more key findings.