The Associated Press, working with Automated Insights and Zacks Investment Research, is now automatically generating more than 3,000 stories about U.S. corporate earnings each quarter, a tenfold increase over what AP reporters and editors created previously.
AP assistant business editor Philana Patterson talked about the automated earnings stories:
How does AP ensure quality control?
Quality control was critical from the outset. We worked with Zacks and AI to make sure that every step of the process would produce stories without errors. When we launched last summer, a fair number of errors were discovered in the testing process. We then worked with Zacks and AI on solutions to ensure they wouldn’t happen again. Today, mistakes are rare. Pretty much the only time we will now have an error is if a number is entered incorrectly into the system at the beginning. Once you set up automation, and go through a rigorous testing process, you reduce the prospect of errors. In fact, we have far fewer errors than we did when we were writing earnings reports manually.Has automation allowed staff to focus more on reporting?
Absolutely. Like all media, we are working with limited resources and it’s critical that we maximize the time reporters have to do journalism and break news. We estimate the automation of earnings reports has freed up about 20 percent of the time that we had spread throughout the staff in producing earnings reports each quarter. It is enabling us to reconfigure our business breaking news operations to be more in sync with social media and user-generated content, and focus more reporters on higher-end enterprise stories that break news that no one else has.
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