Here’s a peek into the not-so-distant future, as “Wikinomics” hits the financial markets and as XBRL data becomes available from companies, governments, and organizations all over the world. “In the longer run, XBRL could bring about a radical shift in the relationship between investors and corporations,” says Deepak Ramachandran, Vice President of Enterprise 2.0. The shift, he says, will be “bringing the ‘prosumer’ worldview, where consumers now help co-produce many goods and services, to a new ‘provestor’ community, where investors can engage with corporations more successfully.”
Ramachandran’s intriguing comments on the short- and long-term impacts of XBRL can be seen on the Wikinomics site. But future predictions aside, he finds XBRL and the changes they may bring, to be “a great step forward towards transparent, meaningful data all investors can work with.
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