It was great to see so many of you at the IR Magazine Forum – AI for IR last week in London. Everyone is in exploration mode when it comes to AI tools and the conference offered a chance to check in with peers and service providers about the latest developments.
The day featured panel discussions covering how to get started, what new skills may be needed, the future of shareholder communications and much more.
Of course, ChatGPT made a few special guest appearances. One session saw attendees work together to see whether they could predict AI-generated analyst questions for an earnings call. In another, the speaker used the now ubiquitous tool to turn his notes into a poem.
There were far too many takeaways from the day to list them all, but I’ve selected five to share below. And keep an eye out on LinkedIn, where delegates and panelists have been sharing their own thoughts about the discussion.
Start simple: AI promises to automate significant chunks of the IR workflow and provide needle-moving insights. But that future remains a few years away. For now, consider tools that can be rolled out quickly across your team, such as Grammarly for writing and Templafy for document creation.
Be patient: Don’t worry if you are spending hours inputting prompts and getting little of value. It’s all part of the learning curve with new technology. One tip for prompt engineering: treat the chatbot like an intern – you have to explain your requests very clearly with as much detail as possible.
Engage with suppliers: While there are some tasks you can get started with on your own, the cost and complexity of harnessing AI for IR means much of the innovation will come from technology providers. Add regular check-ins with IR services firms as part of your research process.
Monitor stakeholders: The buy side is using a range of AI-powered tools to bolster its research on listed companies. For example, annual, sustainability and sell-side reports are fed into internal systems that can then surface specific information with a quick prompt. The more you understand how stakeholders are using AI, the better chance you have of shaping the output.
Track adoption in other fields: To understand what the future could look like for IR, consider the use of AI by other industries. In customer service today, chatbots offer increasingly personalized responses for users, and phone handlers receive real-time insights about clients during calls. Such tools could be honed for outreach with investors.
How are you making use of AI tools now? And what do you think an AI-powered future will look like for the IR industry? Get in touch and let us know at tim.human@irmagazine.com or on LinkedIn.
