Quarterly earnings are a necessity for business reporting — and it can be both monotonous and stressful, demanding a combination of accuracy and speed. That’s one of the reasons why last summer the AP partnered with Automated Insights to begin automating quarterly earnings reports using their Wordsmith platform.
The Wordsmith platform generates millions of articles per week; other partners include Allstate, Comcast, and Yahoo, whose fantasy football reports are automated. Kotecki estimates the company’s system can produce 2,000 articles per second if need be. Both the AP and Automated Insights tell us that no jobs have been lost due to the new service. We’re also told the automated system is now logging in fewer errors than the human-produced equivalents from years past.
Before this program was implemented, the AP estimates it was doing quarterly earnings coverage for about 300 companies. Now it automates 3,000 such reports each quarter.