COVID-19 Company News Tracker
Identifying COVID-19 risks and opportunities for companies, industries and supply chains
Leveraging Natural Language Processing to help firms more quickly and effectively detect signals of risk and opportunity in news data.
Problem and opportunity
Keeping up with the most relevant and meaningful COVID-19 news and data presents huge challenges globally.
Economists, investment analysts and traders need to be able to track the positive and negative impact of events on companies, industries and supply chains. But the speed and volume of developments reported in the news makes this extremely difficult.
From November 2019 till August 2020, Reuters reported over 150,000 news articles mentioning COVID-19.
Generating insights when unforeseen, high-impact events occur
Refinitiv Labs has built the COVID-19 Company News Tracker, which provides time series signals related to the coronavirus that enable customers to quickly identify signals of risk and opportunity in Refinitiv news data.
The machine learning (ML) and natural language processing (NLP) model provides insights on companies and industries of interest, when unforeseen, high-impact events create uncertainty in financial markets.
The COVID-19 Company News Tracker is now available to use in the Macro Vitals app in Eikon and Workspace.
The COVID-19 News Tracker in action
Combining ML, NLP and high-quality data
The prototype includes:
- An ML and NLP model built on basis of an existing Refinitiv Labs risk tracker and Google’s open-source NLP model, BERT
- Pre-trained with 2.7 million relevant words from the Refinitiv News Archive and 7,500 annotated articles
- Automatically determines whether a news article contains a COVID-19 risk or opportunity for the companies or industries mentioned
- Tracks risk and opportunity trends over time, and compares company results against those of their peers
A collaborative approach
Refinitiv Labs takes a collaborative, customer-focused approach to building solutions to real problems in financial markets by combining customer feedback, extensive data capability and exceptional partner technologies.
Collaborating with our customers
- Strategists, economists, traders, wealth managers, company analysts and data specialists were consulted throughout the development process to create a relevant solution to their needs and pain points
- Customer feedback informed the functionality and user interface of the application
- Additional use cases suggested by customers to improve the ML model
Refinitiv partner technologies:
- AWS CloudWatch
- AWS Batch
- BERT as a service
What Refinitiv Labs is thinking next...
The team is working on additional improvements and functionality, including:
- The ability to determine the temporal nature of news stories, and to show customers when the data relates to past events, ongoing events or developments expected in future
- The potential to deploy the model to detect and better respond to unforeseen, high-impact macro events in the future