Skip to main content

In the age of artificial intelligence (AI) and advanced language models (LLMs), the idea of simply asking a machine for a report or a dashboard seems tantalizingly convenient. But is it really that straightforward? As someone frequently approached with questions about the potential of LLMs to replace traditional reporting methods, I’m here to shed light on why this may not be as simple as it sounds.


Let’s delve into some key reasons why LLMs might not be the perfect fit for reporting:

  1. Templates Trump LLMs: One major advantage of traditional reporting templates is their cost-effectiveness and reliability. It’s far easier and more efficient to create a standardized reporting template than to train a complex AI model to generate reports. While LLMs excel at generating text based on input, ensuring accuracy and consistency across diverse reporting needs poses significant challenges.
  2. Adjudicating Answers: Consider the chaos that ensued in the early days of Excel, where different users could end up with vastly different results from the same data set. Similarly, who decides which LLM-generated answers are the “correct” ones? Without a centralized adjudication process, there’s a risk of inconsistencies and inaccuracies proliferating throughout the reporting process. This raises concerns about data integrity and reliability.


  1. Organizational Overhaul: Implementing LLMs for reporting would necessitate the creation of centralized functions and hierarchies to oversee and approve prompts, LLM-generated answers, and more. This introduces additional layers of complexity and bureaucracy into the reporting workflow, potentially slowing down decision-making processes and hindering agility.


The perceived simplicity of using LLMs for reporting is deceptive. While AI technology holds immense potential, achieving the level of accuracy and reliability required for reporting entails not only significant investment in technology and resources but also the restructuring of organizational frameworks. In the short term, the costs, training requirements, and legal risks associated with adopting LLMs for reporting may outweigh the potential benefits.


However, this is not to say that LLMs have no place in reporting. They can certainly complement traditional reporting methods by automating certain tasks, generating insights from unstructured data, and improving efficiency. Yet, it’s crucial to recognize the limitations and complexities inherent in relying solely on LLMs for reporting purposes.


In conclusion, while the allure of AI-driven reporting may be compelling, it’s essential to approach this technology with a critical eye and an understanding of its limitations. Rather than seeking a one-size-fits-all solution, organizations should strive for a balanced approach that leverages the strengths of both AI and traditional reporting methods to achieve optimal results in an ever-evolving business landscape.

To Learn more about how to create interactive bank statements, contact us.

Dr. Rado

read it on Linkedin

Leave a Reply