OSC analysis highlights increasing mentions and diverging sentiment in AI disclosures

TORONTO, May 6, 2025 /CNW/ - The Ontario Securities Commission (OSC) has released staff research that analyses the frequency and sentiment of Canadian listed issuers' references to Artificial Intelligence (AI) in their financial disclosures.

OSC staff analyzed the Management Discussion and Analysis (MD&A) filings from S&P/TSX Composite Index issuers over a 10-year period.  The exploratory study also provided OSC staff with an opportunity to test new large language models (LLMs) for sentiment analysis.

The exploratory research revealed three key findings:

"This research underscores the evolving landscape of AI in corporate disclosures. As issuers become more attuned to the potential benefits and risks of AI, we see a more nuanced discussion emerging," said Leslie Byberg, Executive Vice President, Strategic Regulation at the OSC. 

This exploratory analysis was conducted by staff in the Thought Leadership division of the OSC.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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SOURCE Ontario Securities Commission