Too few companies have a use policy for artificial intelligence (AI) in place, warned Notified as a series of IR-specific AI workshops examined the ways in which IROs around the world are exploring the challenges and opportunities of AI for investor relations.
Workshop attendees at the Notified and IR Magazine events shared their views, practices and concerns – and answered questions on a number of AI-related themes, uncovering the fact that 65 percent do not have an AI use policy in place at present.
This is despite almost half already using AI either experimentally for IR or as part of their regular investor relations activities. More than four in 10 (44 percent) say they are ‘learning’ how AI can serve their IR program, with very few (less than 8 percent) continuing to take a wait-and-see approach to the fast-evolving technology and tools.
Those workshops formed the basis of a new report, written specifically for the IR community. Artificial intelligence for investor relations: A roadmap for successful and responsible implementation brings together key themes from the events in Toronto, New York and London, looking at what AI can offer IR, how IROs are using the technology already and the challenges they’ve come up against – as well as exploring ways to mitigate some of those challenges.
In the report, Erik Carlson, COO and CFO at Notified talks about a recurring theme in discussions around the AI opportunity in IR: whether artificial intelligence will replace the IRO. ‘What I say is, No, AI is not going to replace you, but someone who can use AI better than you might,’ he noted.