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by nickdavidhaynes 3261 days ago
I work for Automated Insights, a company that makes a SaaS platform very similar to what's in the article. Here's an example "in the wild" of the content we produce - http://www.thenewstribune.com/news/business/article158774809...

Many of your criticisms are totally valid. Lots of the phrasing is awkward - even the lede is really bad ("Tesla, Inc. (TSLA) has been having a set of eventful trading activity"...wat). And it feels really deceptive to put a human byline on an automated article.

We're pretty open about the fact that our solution to this problem is not "magical" at all [1, 2] - it's good, old-fashioned automation. This approach allows our customers to QA their content heavily before pushing it to production, which eliminates many of the problems with awkward/incorrect phrasing that people who rely more heavily on machine learning tend to run into. And the news articles we publish always have a note at the end saying that they were generated by Automated Insights, and don't include a human byline.

There is real value in this type of reporting - a recent study [3] found that the articles we produce for less well-known publicly-traded companies has increased the trading volume for those companies. The idea is that, yes, the content is fairly formulaic, but there's now reporting on companies that had very little coverage before we existed. There are similar arguments for mass personalization work we've done for companies like Activision Yahoo - having prose that describes raw data (even if it is formulaic to an extent) is often better than not having prose.

[1] https://automatedinsights.com/blog/the-state-of-artificial-i...

[2] https://automatedinsights.com/blog/creating-great-automated-...

[3] https://insights.ap.org/industry-trends/study-news-automatio...

2 comments

I don't understand what value the prose provides over spending the same amount of effort producing clear, easy to read infographics.

Instead of producing awkward and difficult-to-read English sentences, why not use the same content generator to produce completely accurate and easier to read dynamic data visualizations?

If you do automated content well, it's not awkward and difficult to read ;)

As far as visuals vs prose, I see it as "both-and" rather than "either-or". And in addition to our journalism and personalization work, we also integrate with interactive visualization tools like Tableau.

Increased the trading volume? Seriously, you call that value? What are you smoking, that's called pump and dump and is illegal my friend, and if it isn't actually being dumped is downright sleazy car salesman to me. Was that recent study also automated.
Increased trading volume generally just means better price discovery. Why do you think increased trading volume means it's "pump and dump?" When I trade SPY, I increase the trading volume in the underlying S&P 500 components -- am I pumping and dumping then?
Increased trading volume driven by bot-written blogspam produced by the company PR department with the express intent of pumping their share price definitely isn't "better price discovery"
It's a good idea to follow the links before accusing someone of illegal behavior.

Here's the link to the study again: [1]. This is specifically in reference to the reporting on quarterly earnings reports that we automate for the Associated Press. It's an objective summary of the financial performance of these companies that appears in news outlets across the country (for example, [2,3,4,5,6]). The companies being reported on have no influence over the content of the articles.

From the summary:

>These articles synthesize information from firms’ press releases, analyst reports and stock performance, and are widely disseminated by major news outlets within hours of publication...This study found a positive effect between the public dissemination of objective information and market efficiency.

[1] https://insights.ap.org/industry-trends/study-news-automatio...

[2] http://www.thenewstribune.com/news/business/article158779784...

[3] http://wtop.com/business-finance/2017/05/yum-beats-street-1q...

[4] http://www.foxbusiness.com/markets/2017/04/27/dominos-sales-...

[5] http://www.businessinsider.com/ap-fedex-beats-street-1q-fore...

[6] https://www.usnews.com/news/business/articles/2017-04-26/her...

Fair response and I withdraw and apologise for the implicit accusation against your company specifically. I'm sure you would agree less benign actors exist, which is why I'm reflexively sceptical of the idea that a link between more reporting and more trading volume is an indication of its merit.

I guess if I'd taken the time to read your original link we could have a more interesting discussion on whether pretty basic earnings information in a format more friendly and available to non-professional investors was adding noise to the market or providing a useful counterweight to the amount of free publicity that more prominent companies' earnings get. But I've probably already poisoned the well on this one.