In today’s fast paced online environment, the financial industry is always trying to keep up to date with the latest news. The concept of Natural Language Generation (NLG) is echoing strongly in the industry as Fx brokers are seeking new ways to reach a larger audience with the right message.
But what is NLG?
Natural language generation software uses machine learning as well as deep learning algorithms to analyse data and restructure it in a way to sound human. NLG learns by example and trains on thousands of words, text samples, paragraphs or sentences. NLG then uses the text samples to understand and generate new content based on the parameters requested by the user.
NLG has been in our lives for quite some time and we‘ve all interacted with NLG in the past. An easy example is artificial intelligence (AI) assistants and chatbots which we see used in delivering on demand education, in customer service and much more.
What does NLG mean for your brokerage?
The uses of NLG are unlimited and one of the biggest advantages is that it offers personalisation by automatically generating unique, multilingual content. In addition to the above, NLG automation enables staff to reduce content production cost and increase time efficiency, as the manual labour that would have gone into content generation and translation is now eliminated and done automatically.
Fx brokers seem to be jumping on the NLG train fast as some of the biggest names in the Forex industry have adopted the technology for communication with their audience via social media platforms with the examples FXCM, Swissquote and ATFX being prominent names that adopted the technology and automated their social media channels to deliver news to their audience in a fast and reliable manner with the latest reports, analysis and data.
Additionally, NLG content can be used in ‘news of the day’ dynamic lead generation campaigns, which allows the broker to adjust the message in an instance, attuning the campaign to the market news, always staying current and directly relatable to the market.
The process of onboarding this technology is quite simple and enables brokers to increase SEO, promote their brand visibility as well as increase their website click-through rates.
So what is the process of creating NLG social media content?
The unique content is generated using a 3 step process.
Step 1 – the data is collected from a number of sources.
Step 2 – it is analysed then manipulated using different types of analysis techniques, including language, broker branding and more
Step3 – then each market event is described by, using hundreds of language templates to produce human-like narrative.
The content is then automatically sent to the brokers social media channels and website, so that the two are linked together.
The posts are then promoted to audiences to generate new leads and retain existing clients by extending their life-time-value. The promoted posts also increase website traffic to widen the remarketing scope, increase social media footprint, increase social media following, and help build effective sales funnels.
Autochartist is the only service provider to offer unique natural language generated social media content for financial markets.