Thomson Financial the owner of Westlaw, ThomsonOne, Datastream, ISI Web of Knowledge, Delphion and a dozen other worldwide famous databases is now opening a new global financial news service. The new wire news delivery will be in direct competition with the other two major providers of up to the minute financial information – Reuters and Bloomberg.
As of now the editorial and reporting staff of Thomson Financial tops more than 500 and " when the new service comes online this July, Thomson Financial plans to send around 10,000 stories daily" which compared to Bloomberg ( 5000 stories daily) is twice as much.
" However, only a third of those stories will come from Thomson’s news staff. A third will come from local media outlets and another third will be “written” by automated news-generating software. The technology, which is already being tested by some business news reporting services, is designed to produce short, routine reports. Rather than replace live journalists, Thomson said the software is designed to free up valuable manpower for in-depth reporting."
Subscribers can read the stories on Thomson ONE, and Thomson Financial made a commitment to write its news entirely towards investment professionals.
What is interesting here is the fact that news stories will be "written" by software program something that I am very curious to see how it works. To compare In July I will try to read some of the news pieces created by "automated news-generating software."