NIRI 2019 - Prattle CEO on the future of AI for IR
Evan Schnidman, founder and CEO of Prattle, was one of the keynote speakers at the NIRI annual conference, where he explained how investors have been using his company’s AI tool recently.
Speaking exclusively to IR Magazine after his panel, he explained: ‘We specialize in analyzing complex, nuanced market-moving language. We started out by looking at central banks and we’ve since applied that to every publicly traded organization in the US. So we look at every single one of their publicly available primary source communications: earnings calls, speeches by corporate officers, investor days, everything released on the corporate website and press releases. It ends up amounting to about 5 mn documents per day.’
Schnidman says this information is then condensed into a single quantitative score indicating whether the market is likely to act positively or negatively to a company’s announcement, event or release. For the last couple of years, this tool has been sold to the investment community. But in recent months, Prattle has started talked to IR teams about how it can be used to proactively prepare for market-moving events. ‘The IROs love what we’re doing, including the ability to input language ahead of time and see how the market is likely to respond to that language,’ Schnidman says.
Click here to read the full article.