MRI radiology reporting processes can be improved by exploiting structured and semantically labelled data that can be fed to artificial intelligence (AI) tools. AI-based tools assisting radiology reporting can help to automatically individuate cartilage grading in textual magnetic resonance imaging (MRI) reports, thus supporting clinicians' decisions regarding medical imaging utilisation, diagnosis and treatment. In this study, we extracted information (clinical findings, observations, anatomical regions, etc.) and classified knee cartilage degradation from medical reports utilising transfer-learning techniques applied to the Bidirectional Encoder Representations from Transformers (BERT) model and its variants, pre-trained on an Italian-language corpus. To realise this objective, we used a dataset of 750 MRI knee reports written by three radiologists who contributed to a manual annotation process to perform text classification (TC) and named entity recognition (NER) tasks. The dataset was obtained from an internal database of the IRCCS SYNLAB SDN. Seventy percent of the dataset was used for training, 10% was used for validation and 20% was used for testing. The best-performing configurations for NER and TC tasks were based on the pre-trained BERT model. The macro F1-scores obtained with the NER and TC models are 0.89 and 0.81, respectively. The accuracies calculated on the test set for both tasks are 0.96 and 0.99, respectively.