Use of Artificial Intelligence to Extract Unstructured Data from Financial Statements

This article highlights DOS's development of IBSS Pro-AI that automates the extraction of information from firms' financial statements to further leverage administrative data, in line with DOS’ Administrative-and-Big-Data-First strategy to utilise administrative and other non-survey data sources before conducting statistical surveys.  

IBSS Pro-AI lowers data collection costs, improves operational efficiency, and supports the production of timely and comprehensive business statistics.