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In the third annual Disruptor 50 list, CNBC features private companies in 16 industries—from aerospace to financial services to cybersecurity to retail—whose innovations are revolutionizing the business landscape. These forward-thinking upstarts have identified unexploited niches in the marketplace that have the potential to become billion-dollar businesses, and they rushed to fill them. In the process, they are creating new ecosystems for their products and services. Unseating corporate giants is no easy feat. But we ranked those venture capital–backed companies doing the best job. Already it's hard to think of the world without them.
Narrative Science, the leader in advanced natural-language generation (Advanced NLG) for the enterprise, today announced that it was named to the CNBC Disruptor 50 List for its unique artificial intelligence-powered platform that delivers data-driven narratives.
CNBC released its third annual Disruptor 50 List, a collection of the country's most innovative companies that are changing business today, and a Chicago startup cracked the list.
Narrative Science, a Chicago-based company that uses artificial intelligence to turn data into stories, was number 46 on the list, coming in ahead of companies like Spotify, Nextdoor and SnapChat.
Firms such as Narrative Science, in Chicago, which hopes to automate the writing of reports (and which is already used by Forbes, a business magazine, to cover basic financial stories)...
A fascinating Chicago startup called Narrative Science operates at the intersection of robots and personality every day. Narrative Science is able to analyze large batches of data, identify what’s most important, and use proprietary algorithms to automatically generate an easy-to-read, data-driven narrative. Its robots may not clean your apartment or provide you with companionship, but you likely interact with them each time you read a news report, the fine print of your 401k, or even an analysis of a company’s quarterly earnings. The trick is in making the machine-generated content readable.
Although not a pure-play data analytics company, Narrative Science gives us a fascinating glimpse into what might be possible in the future. Currently, users can turn vast tables and streams of data instantly into coherent prose. Narrative Science’s Quill takes a collection of data and turns it into a summary of the relevant highlights and trends as if a writer was hired to perform the same task (only it does so exponentially faster).
For example, Chicago-based Narrative Science Inc. has developed a natural-language generation platform it calls Quill to allow companies to assemble more useful reports from complex sets of information embedded in databases. The software uses artificial intelligence to identify, prioritize and translate disparate information in databases into a written report “that sounds like a person wrote it,” says the company’s CEO, Stuart Frankel.
USAA, MasterCard and American Century Investment Services Inc. are using Quill to generate user-friendly reports. For community banks, Frankel says, such software could have many possible applications, including quickly producing internal and external reports so loan officers enter meetings better equipped to speak knowledgeably.