SEC's Uyeda says machine-readable data still matters as filings read by AI first
SEC Commissioner Mark Uyeda opened a Commission roundtable on machine-understandable data and super intelligence, arguing that structured filing data retains value as AI tools increasingly become the first reader of corporate disclosures. He invited candid discussion of whether formats superior to XBRL now exist, and where the Commission can do better.
- Uyeda said the first reader of an SEC filing is increasingly a machine, whether a quantitative model, large language model or other super-intelligence tool.
- He defended XBRL, mandated from 2009 and later extended to Inline XBRL, arguing structured data lowers cost of capital by making information easier to find and compare.
- The roundtable's second panel was tasked with examining the risks and costs the Commission should consider, and Uyeda invited candid views on where the SEC can do better.
- Uyeda explicitly asked whether there are new methods superior to XBRL in a super-intelligence environment.