H One unveils revolutionary AI bot: Simplifying company annual reports for stakeholders

Thursday, 8 August 2024 00:00 - - {{hitsCtrl.values.hits}}

H One CEO Venura Mendis

Hayleys Group Digital Transformation Head Geethaka Fernando

H One, in collaboration with Hayleys PLC, has announced the deployment of its latest innovation: an AI-powered chatbot designed to read, interpret, and analyse published annual company reports.

The H One Data and AI team, along with Hayleys and the unwavering guidance and support from Microsoft Sri Lanka, was able to succeed in developing the solution for Hayleys PLC – Sri Lanka’s largest public listed and most diversified conglomerate, and its subsidiary Haycarb PLC.

H One CEO Venura Mendis said: “Hayleys Group has once again demonstrated its forward-thinking approach by integrating AI to make complex data accessible and actionable in seconds. Our AI-powered chatbot represents a significant advancement in analysing and presenting corporate reports, utilising Generative AI to swiftly navigate vast knowledge bases. It promises to revolutionise how businesses visualise and extract insights from financial and non-financial data, enhancing efficiency and accuracy.”

The AI-powered chatbot, built on ChatGPT-4 Omni (GPT-4o) and Azure Cognitive Search, revolutionises the interpretation of annual reports by exploring a Knowledge Base (KB) containing generated reports. This advanced tool makes complex financial and non-financial data accessible and actionable in seconds, enabling users to obtain specific answers quickly without sifting through lengthy documents. By leveraging AI capabilities, the chatbot transforms intricate information into clear insights, ensuring efficient and precise financial analysis for practical decision-making.

Key benefits of the chatbot include rapid access to crucial financial and non-financial insights, significantly reducing time spent on research or document review, and ensuring consistent data through automated analysis. The natural language interface allows users to navigate extensive reports filled with text, charts, and graphical information, delivering clear and concise information that enhances collaboration and communication among stakeholders. This empowers users from laymen to CFOs to ask specific questions and receive insightful responses, and navigate through complex annual reports such as Hayleys PLC, making informed decisions based on comprehensive financial analysis.

Hayleys PLC Digital Transformation Team Head Geethika Fernando said: “We are delighted to introduce this solution to our stakeholders, showcasing our commitment to leveraging technology for enhanced transparency and accessibility. The tenacity, dedication, and customer focus shown by the H One team, strongly supported by the Microsoft team, have been exemplary. This collaboration serves as a great case study in providing a superior digital experience.”

With the introduction of the AI chatbot, the collaboration between Microsoft, Hayleys PLC, and H One is paving the way for increased digitalisation. As reporting requirements become more complex, this innovation makes financial data more accessible and readable for individuals and stakeholders.