Hate Earnings Season? Morgan Stanley Robots Give Analysts a Hand
- Firm enlists artificial intelligence to write initial reports
- ‘The idea is to free up analysts for value-added work’
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For those who dread the quarterly deluge of corporate earnings reports, the arrival of robots on Wall Street might not be all bad.
Morgan Stanley’s research department is testing artificial intelligence to take over the grunt work involved in covering earnings -- a brutal ritual that leaves analysts poring over filings and listening to executives talk for hours. The world’s biggest equity-trading investment bank churns out 50,000 reports a year, some of which are just summaries of disclosures. Such tasks are better suited to machines, according to global research head Simon Bound.