Webinar: AI in IR?
In the morning, Blue Berry Share held a webinar for investor relations professionals of Finnish listed companies on the topic "AI and IR" - a big thank you to everyone who participated, great!!
Here is a short summary of the topic.
The rapidly developing AI (artificial intelligence) really only came into consciousness with ChatGPT and language models. Now AI helps any individual investor to make better investment decisions by quickly interpreting huge amounts of data at once, and any information producer to make quick information searches or create (standard quality) material in seconds.
The AI legislation already approved by the EU Commission in June has been prolonged, as some countries feel that the regulation is too strict (which it probably is). The final negotiations were concluded yesterday, but it is clear that it will not take effect in the member states according to the original schedule at the end of 2023.
Perhaps not everyone was prepared for the fact that nowadays all the information they previously published online can be used in various AI tools by anyone – regardless of copyright. There are many good aspects of AI, but there are plenty of challenges, e.g. copyright, reproduction, building on existing knowledge, ethics, and reliability. In addition, data security is not necessarily at the level it should be in IR.
So how do IRs use GenAI? According to data released by Citigate Dewe Rogers in August, not very much!
- 50% had not tried it yet (but they want to try at some point)
- 15% said the reason was that the employer has restrictions on the use of AI (completely understandable)
- 25% said that they have tried AI
In other words, you are not at all late here, but the IR industry is a bit reserved about this and the subject itself. Also, using the GenAI tool can never be a purpose in itself, and you don't have to experience any guilt if you don't use the tools. They can be used if they are suitable for the purpose. Not even a hammer is used for sawing.
How does AI shape the playing field for an investor to end up? Investors use various AI tools, e.g. to compilations of results announcements, sentiment analysis (identifying positive and negative phrases) and predicting future development based on historical data.
Why am I talking about AI? Because we are introducing a new type of digital investor relations communication tool to the market. AI is one of the drivers revolutionizing the industry, with which investors and companies are looking for new ways of working. Other drivers include e.g. a significant increase in the number of private investors. Our tool is easy to use, aims to save time for you and your team, and contains a service component. Get in touch if you are interested.
Note This is just a short summary, of course, you can't share everything in short summaries - by all means, come to the place next time, and you will get much more information!
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