Software that was first put to work writing news reports has now found another career option: drafting reports for financial giants and U.S. intelligence agencies.
Narrative Science, a Chicago company set up in 2010 to commercialize technology developed at Northwestern University that crunches data into a narrative, markets its Quill software to television stations and to financial houses that generate earnings statements.
Narrative Science first made its name with software that turned box scores and play-by-play data into narrative recaps of college baseball games. But the company has more recently branched out into a wide array of business-intelligence applications, such as analyzing stock portfolios and generating reports on why they have or have not been performing well. The key to this type of software, Hammond said, is that its workings must be comprehensible to the humans who use it.
One of the emerging applications of artificial intelligence is in writing performance reports and portfolio commentary. Traditionally, portfolio managers or investment writers and editors spent weeks poring over performance data and writing summaries for internal audiences and fund shareholders alike. But companies like Chicago-based Narrative Science have developed means to take in data feeds from fund investment accounting and portfolio analytics systems and turn them into narrative summaries within a few days.
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Narrative Science Chief Scientist Kris Hammond discusses the current and future states of Artificial Intelligence with Press: Here host Scott McGrew.
Originally put to work writing news reports, the writing software called Quill has found a new job—analysing financial data and producing reports. Quill was developed by Narrative Science, a Chicago company set up in 2010 to commercialise technology developed at Northwestern University, USA. The founders whimsically named Quill after the precursor to the modern pen–that could generate stories from any type of data, starting with sports, financial and real-estate news.
We live in an increasingly globalized age and knowing the difference between a Like or a Follower can be a defining factor in a company’s success.
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Automation will lessen the need for the elusive, talented, and expensive human data scientist -- and that's a good thing, says Narrative Science cofounder.
Quill is AI software designed to produce data-based news stories and corporate reports in seconds. Created by Chicago tech company Narrative Science, it’s already used by clients such as Forbes, the US intelligence community, England’s NHS, and Credit Suisse, to create financial reports and sports news stories in seconds.