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Natural language processing

This article in the FT suggests an important turn in economic discourse:

With NLP, quant hedge funds can systematically and instantaneously scrape central bank speeches, social media chatter and thousands of corporate earnings calls each quarter for clues.

The article notes that the language employed by humans on earnings calls has incrementally and systemically changed based on an understanding of how the algorithms work. But

"[t]rying to 'outsmart the algos' is ultimately futile: buyside users can immediately report sentence misclassifications back to the model so any specific effort to sound positive on negative news will not work for long," Mr [Nick Mazing, research director of Sentieo] says.