NLP for investment management: quants face a grab bag of words

Training models to interpret text can be dull; but doing it poorly can be costly.

When Microsoft launched its chatbot Tay in 2016, the inputs from users notoriously steered the bot into spewing out hate speech. Tay was hurriedly bundled offline—and has yet to reappear.

Now, like so many in the vanguard of artificial intelligence, investment managers are busy trying to teach their bots the nuances of interpreting text—but, like the tech giant, their journey to success is set to be a long one—and must avoid embarrassing missteps.

NLP, or natural language processing, is a

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