Exploring the frontiers of reporting in Washington, D.C: AI and sustainability are hot topics in the U.S. market.

Naturally, AI and its use in reporting dominated the conversation. However, the future of sustainability reporting also sparked lively discussion, with several panel sessions dedicated to the topic. Until now, AI and reporting have not been an ideal match due to data confidentiality requirements. At the event, Workiva introduced its own AI assistant, developed for its platform, which securely integrates client data and content with structured reporting requirements – whether for North America’s SEC regulations or Europe’s ESRS standards. 

The audience and speakers at Amplify were primarily from North America, but sustainability reporting is just as relevant across the Atlantic as it is in Europe. In the U.S., the reporting landscape is fragmented by the use of multiple frameworks. Many companies are preparing for CSRD, ISSB, and SEC requirements, even though the obligations and timelines remain partly unclear.

Panelists emphasized that preparing for sustainability reporting is never wasted effort, even amid uncertainty. It lays a strong foundation for responsible business practices and overall business development. Strategic sustainability work requires identifying material topics, engaging stakeholders, setting clear metrics and goals, integrating sustainability into business strategy, and continuously evaluating and improving the work. Developing these practices is beneficial regardless of which mandatory regulation or voluntary framework comes next.

Workiva continues to enhance its tools to simplify data collection and reporting under various international standards. Its AI capabilities also support compliant reporting. For example, AI can help summarize ESRS disclosure requirements into digestible overviews. A particularly interesting new feature is AI-assisted content creation and editing aligned with disclosure requirements. The AI tool also enables various analyses, chart creation, and process monitoring, even across multiple separate files. 

“Bad data is like kryptonite to AI.”

—Alexander Davis, Deputy CFO, Pie Insurance

It’s not enough for AI to simply have access to data, the data must be of high quality. Accuracy and source reliability are essential. In the context of reporting, it’s also critical that the data is proprietary and increasingly verifiable. Prompts and AI training play a key role in all of this. At Amplify, finance leaders shared examples where AI-generated answers initially seemed perfect, but upon closer inspection, the sources were unreliable.

Many forget that AI is only as smart as it’s trained to be. Training is a team effort: AI alone isn’t enough. It’s like an intern who needs a skilled mentor and the right background data to succeed. 

It’s clear that AI will significantly impact all of our work, including reporting. Many fear that AI will replace jobs and human labor. But is that really the case? At Amplify, it was noted that the number of accounting and finance students in the U.S. has been declining for several years. As fewer professionals enter the field, the demand for AI grows in new ways.

Topics that receive surprisingly little attention include AI and sustainability, as well as the cost of AI. These themes were also largely overlooked at Amplify, often dismissed in panel discussions. It remains to be seen how AI usage will be reflected in corporate sustainability reports in the future. AI’s energy consumption, carbon emissions, and water usage are significant. At what point will the widespread use of AI start appearing in companies’ reporting content? 

The AI discussion is closely tied to the format of reports. Recently, we’ve been asked why we still recommend PDF reports, even though AI doesn’t yet process them as effectively as freely available online content.

Of the formats currently available, we believe PDF works best for human stakeholders – especially when the goal is to provide a comprehensive overview of the company and its operations. In Finland this has led to discussions whether web-based annual reports are returning, as they are more common in some European countries. However, due to their extensive content, these reports often have complex interfaces that make it difficult to get a clear picture of the company. Navigating to specific content can require dozens of clicks. That said, web reports can certainly serve users, especially streamlined sites that highlight key messages and data for time-pressed readers. The PDF can then be used for deeper dives, offering better search functionality and easier browsing.

When choosing a report format, it’s important to consider the primary audience and the report’s purpose. Is the goal to make the content easily readable for humans or easily discoverable by AI? Ideally, both. In that case, a hybrid format may be the best solution, provided the reporting tool minimizes duplication of work and cost. 

At Miltton, AI has long been a helpful tool, for example in extracting key messages from reports for use in other communications, especially by our digitally driven reporting team in Sweden.

Repurposing report content across channels is important because, in this case, AI feeds AI. As clients create content from reports for various platforms, AI tools recognize these as valuable sources and factor them into searches and analyses.

Miltton also offers services to assess how a company’s messages appear across different AI sources, as well as various bots for topics like green claims and other sustainability-related issues. 

If you’re interested in Workiva as a reporting platform, you’re reading the right post. Workiva enables the creation of multiple file formats. You can generate a tagged ESEF report, a polished visual PDF, and even connect platform data to a website or dedicated annual report microsite – ensuring controlled data flow between formats. Miltton is the only top-tier corporate communications partner for Workiva in the Nordics. We’ve partnered with Workiva since 2018 and were selected as their design partner in 2024.

Miltton offers a wide range of Workiva services and expert support for large listed companies. For smaller SMEs, we can license a lighter version of the platform, tailored specifically for reporting teams.