Tuesday, February 27, 2024

AI-Powered Tool Newstats.ai Transforms News into Structured Data, Making News Measurable

Last updated Tuesday, February 6, 2024 09:16 ET

YUKKA Lab will launch Newstats.ai, an AI-powered website that gathers information from thousands of articles and news sources, transforming them into structured, measurable data.

Berlin, Germany, 02/06/2024 / SubmitMyPR /

News intelligence company YUKKA Lab has announced that it will launch Newstats.ai.ai, a free-to-use website that compiles statistics gathered from the news by its proprietary AI engine. Newstats.ai allows users to search for specific events and statistics from the global news – something that cannot be done by a person manually. A business professional can realistically read five to 15 articles each day, from one to three sources.

According to YUKKA Lab, only around 20% of all data available is structured data, which is the type of data that is helpful for a business in making decisions. The remaining 80% of data is unstructured, which needs to be read and analyzed to be of any use. Newstats.ai takes unstructured data by scanning 750,000 news articles every day, from 150,000 global sources, and transforms it into structured data that can be readily consumed by users.

YUKKA Labs’ technology searches the news line by line, identifying the companies, as well as the context and events that they were involved in as a participant, including the role that they played. Newstats.ai also makes it possible to get a list of companies involved in a specific event, which previously took many hours of labor-intensive research to obtain.

YUKKA Lab co-founder and chief product officer Oliver Berchtold says there are numerous use cases for Newstats.ai, such as a sales consultant looking for news events that can serve as “door openers” to pitch their offerings. It can guide individuals in their consumption choices, determining whether the businesses they patronize are engaged in environmental, social, and governance (ESG) risk controversies, such as environmental violations, child labor, bribery, fraud, or corruption. Knowledge workers and data scientists can also use Newstats.ai as a research tool, providing information on a certain topic condensed from thousands of news articles.

In future updates, Newstats.ai will include a large language model (LLM), which is based on licensed news sources and provides factual answers, allowing users to ask open-ended questions.

Newstats.ai is based on YUKKA Lab’s News Lab software-as-a-service offering, which has even more powerful capabilities, such as monitoring more than 150,000 public and private companies in real-time, providing access to the licensed full text of articles, and analyzing the media presence of a particular company to create actionable news-based scores for risk, credit, investment, and ESG.

Founded in 2014, YUKKA Lab specializes in the artificial intelligence branch of natural language processing (NLP), using the technology to extract information and news sentiment on a large number of companies, industries, and topics. It places heavy emphasis on research and development, with almost all of its 28 employees belonging to its tech team. In 2022, YUKKA Lab was appointed as a Cool Vendor in Natural Language Technology for processing enormous volumes of unstructured data. It has also received recognition for its ESG initiatives, alongside its client, Universal Investment.

“There’s so much news coming out each day that it’s impossible to read it all. By not having a good grasp of the news, organizations are leaving many good opportunities on the table, or opening themselves up to risk. Newstats.ai.ai and YUKKA Lab’s other solutions offer a data-driven approach to news, while eliminating information overload, allowing users to make better business and financial decisions,” Berchtold says.

Media contact:

Name: Oliver Berchtold, Co-Founder & Chief Product Development

Email: [email protected]

Original Source of the original story >> AI-Powered Tool Newstats.ai Transforms News into Structured Data, Making News Measurable