Bloomberg this week rolled out a new automated story based on some ground-breaking summarization technology.
The concept is simple: Provide a short bullet-point style answer to the question of what’s happening in a given country.
It’s such a basic and near-universal need. It’s something humans do effortlessly. And yet it’s incredibly hard to generate via a computer model.
What we’ve done is leverage two proprietary algorithms. One clusters stories that are about the same event and the second uses AI to summarize them in a short, informational nugget.
The result is game changing for financial professionals, who spend a large percentage of every day culling through news reports to synthesize complex articles into short, digestible points they can share.
Now, we’ve begun using this technology to generate an automated news article that highlights the biggest “theme” for major countries from the U.S. to Japan. The top item for the U.S. today: Trump to Temporarily Ban Immigration to U.S.
The magic here is the speed and scale. While its easy to know the theme for your own country, its much harder and time consuming to rattle off similar items for Canada, Mexico, Brazil, Argentina, Venezuela, France, Germany, Italy, Spain, China, Russia etc.
You can find the country theme article each morning on the Bloomberg terminal typing {NI CTHEME <go>}. There is an option to receive an alert each morning.
We believe summarization technology will play a key role in helping traders and money managers cope with the exploding volumes of information.
It also helped me today when a friend asked what’s going on in Brazil .
“The president coughed at a rally,” I said, remembering the bullet point from the morning digest. The person was impressed.