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$525 billion German banking behemoth to commence robots use for Research Report Writing

$525 billion German banking behemoth to commence robots use for Research Report Writing

–  Germany’s second largest bank, Commerzbank, is exploring the use of artificial intelligence to write analyst reports.
–  Commerzbank has partnered with Retresco, a content-automation company to work on a way of creating research reports using AI.

– The bank’s dive into AI-driven analyst reports comes at a time when major lenders are striving to differentiate themselves from their competition in response to the arrival of MiFID II earlier in 2018.

Commerzbank, Germany’s second largest bank, is exploring the use of artificial intelligence to write analyst reports, in another sign of a shift in how major financial institutions conduct their research.

As first reported, Commerzbank has partnered with Retresco, a content-automation company to work on a way of creating research reports using AI. A similar technology has already been used in journalism to write brief earnings reports after company results are released.

The technology is not believed to be anywhere near ready to produce reports sent to clients, but Commerzbank — which has an investment in Retresco — is looking particularly at using it for earnings reports.

This area is showing promise because “equity research reports reviewing quarterly earnings are structured in similar ways,” Michael Spitz, head of Commerzbank’s research and development unit Mainincubator told the Financial Times.

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