Terminator Comes To Wall Street As Firms Try Out Automated Analyst Reports

Terminator Comes To Wall Street As Firms Try Out Automated Analyst Reports
By The original uploader was VD64992 at English Wikipedia [Public domain], via Wikimedia Commons

Leading Wall Street firms are trying out research reports written by artificial intelligence, with a few start-ups offering software to generate company summaries for research database.

Some analysts wonder whether the financial analyst community could be decimated by algorithms.

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Wall Street automating research report using artificial intelligence

Thanks to growing automation in financial services, computers and algorithms have taken on some of the traditional work of traders, clerks and financial advisers. However, recently a host of start-ups that use artificial intelligence to write news stories and other reports are training their eyes on writing work at banks and financial service companies

A McKinsey & Co report highlights the advances of “brilliant” machines will astound society and have potential to revolutionize the C-suite, encroaching on duties of senior managers. As detailed by ValueWalk, Deep Knowledge Ventures, a Hong Kong venture-capital firm, has gone so far as to integrate a decision-making algorithm into its board of directors.

According to a Wall Street Journal report, Narrative Science Inc., with computer-generated news articles, added products for financial services business in 2013. Now those firms represent 60% of the company’s client base. Some of the other start-ups including Yseo