Erik Bucy and Milad Jalalian Ebrahimi write for Nieman Lab about how Reuters is using artificial intelligence to speed up its finance news.
Bucy and Ebrahimi write, “Its coverage of financial markets and other fast-moving sectors, such as foreign exchange trading and corporate earnings, means that even a 30-second delay in reporting a central bank decision or a market-moving news event could cost traders significant sums of money.
“For this reason, the company has heavily incorporated AI to speed up its workflow.
“For example, the newsroom uses an AI tool the company developed called Lynx Insight to analyze financial data in real time, and another internal tool, Fact Genie, to process corporate press releases.
“Thanks to these tools, Reuters has expanded its earnings coverage and can publish some breaking financial alerts in just six to eight seconds, turning what was once a race measured in minutes into one measured in seconds.
“Reuters sees automation as a way to produce more content for different markets. Operating at speed, however, makes accuracy all the more challenging.”
Read more here.
