AI Is Co-Writing Financial Reports. Here’s Why That Matters.

The technology’s use in producing annual and quarterly filings—even with the requisite human oversight—raises questions of transparency and trust

Quick Summary

• Companies are increasingly using generative AI to draft financial reports, aiming for efficiency but raising concerns about trust and transparency.

• ON Semiconductor reduced the time between closing the books and reporting results to eight days from 10, with plans to average six days next year, using AI.

• A survey found 28% of finance executives use generative AI for external reporting, while 16% use it extensively.