The Associated Press (AP) has announced that from this month, its corporate earnings reports will be written by robots.
The company, in partnership with Automated Insights, and using data from Zacks Investment Research, will generate automatic short stories about company earnings.
“As we begin using automation technology in July, we will check each automatically generated report and then publish to the AP wire,” said the company in a statement. “As we work out any problems, we hope to move to a model of more fully automating the reports and spot-checking the feed for quality control.”
According to AP, the use of robot writers will increase their output on corporate earnings reports from 300 per quarter to 4,400. The robot writers take about the same amount of time to complete a story as a reporter does, but because the robots are focused exclusively on producing the reports they can generate far more stories.
The AP went on to say that there was no risk of job losses due to the implementation of robot writers. Instead they believe that the use of the robots will free up reporters to concentrate on producing more in depth earnings stories. Reporters will have more time to analyse stories, identify trends and find relevant stories to break.
The structure of the stories generated by the robots have been created by AP using Automated Insight’s algorithms. The data used is from Zacks and the story will conform to AP’s house style. All stories artificially generated will be clearly identified.