SPOTLIGHT ON CHAPTERS
Beyond AI: Digitalization Into the Future
BY MARYELLEN THIELEN A
dvances in digitalization have created both opportunities and challenges for investor relations officers. The trend was thoroughly explored at the annual NIRI Chicago IR Workshop
in September 2023. Entitled “Digitalization Into the Future,” the event offered a day of insights on the ways digitalization has and will affect investor relations positions, companies and sectors. “Artificial intelligence and digitalization can greatly impact—and
disrupt—how companies navigate risks and communicate with stakeholders,” said Shawn Alcaraz, IRC, NIRI Chicago President. “IR officers need to stay at the forefront of innovation to keep their programs relevant and competitive into the next phase of our increasingly digital world. Digitalization is transforming the ways companies communicate with investors and other stakeholders,
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as well as how we conduct IR and manage crises, ESG matters and our relationships with the buy side.” A few highlights of the day:
AI: Friend, Foe or Coworker?Worldwide, data volume is expected to grow from 64 zettabytes in 2020 to 175 zettabytes by 2025. (One zettabyte is a trillion gigabytes.) As a result, companies may soon be at a competitive disadvantage if they do not use artificial intel- ligence (AI) to analyze ever-increasing amounts of data to create value, support decisions and resolve problems through predictive analytics, data visualization and more. Companies are testing or using generative AI to analyze sentiment and AI-powered chatbots to facilitate conversations with customers. However, data security,
niri.org/ irupdate
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