“The Circle Is Complete — Robots To Write The Earnings ‘Reports’ Read By Robots,” ZeroHedge Reports:
Has Skynet become self-aware? It seems the ‘robots’ that run the US equity markets (HFT/algo trading dominates what little volume there is left) have decided to cut out the middle man in the market as Associated Press reports this morning that it will employ the story-writing software by start-up Automated Insights to automate the production of U.S. corporate earnings stories. To be frank, given the copy/paste nature of most mainstream media ‘analysis’ of earnings, we thought this had already occurred but AP notes, “We are going to use our brains and time in more enterprising ways during earnings season.” Does that mean that anyone but Zero Hedge will be discussing cashflows or GAAP earnings?
As USA Today reports, The Associated Press is going robotic:
The news service revealed Monday it will employ the story-writing software by start-up Automated Insights to automate the production of U.S. corporate earnings stories, the quarterly bane of the existence of many business reporters.
The AP typically produces about 300 earnings stories per quarter, requiring reporters to crunch data in the heat of wire-service deadlines. Soon they will be producing many, many more.
Using the software would allow AP to automate short earnings stories, typically 150 to 300 words, “in roughly the same time that it took our reporters,” says Lou Ferrara, the AP managing editor who oversees business news. The initiative will start in July.
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Just program her to blindly worship Barack Obama, and the aging Andrea Mitchell 9000 android employed by NBC can finally be mothballed as well.