Screening companies based on news articles is a crucial part of risk management and compliance. However, it can be challenging to find and interpret the right information, especially when dealing with conflicting reports and fake news.
Below are some of the main challenges when using news articles for company screening and how Natural Language Processing (NLP), Named Entity Recognition (NER), and Artificial Intelligence (AI) can help.
Relevancy
Firstly, finding relevant news articles can be tough. Companies often operate on a global scale, making it difficult to locate reliable sources of information.
NLP and AI can provide solutions here.
By utilizing search algorithms and automatically filtering out irrelevant data, these technologies can assist in quickly and efficiently identifying the most relevant news articles.
Understanding what articles are really about
Another challenge is understanding the content of news articles. Often, there are subtle cues in the reporting that can impact a company’s assessment.
This is where Named Entity Recognition (NER) comes into play.
Through this technology, company names and other vital details can be identified and analyzed within the context of the news article.
Contradictory information and fake news
Additionally, screening companies based on news articles can lead to contradictory information. Some news sources might have different perspectives on the same event, or there could be uncertainty about the facts.
This is where AI and machine learning can help.
Through these technologies, multiple sources and data can be analyzed, and the reliability and relevance of the information can be assessed.
Another significant challenge is dealing with false information and fake news. There are many instances where companies are wrongly portrayed negatively in the news due to rumors or false data. Here, NLP, NER, and AI can help by analyzing the sources and content of news articles to assess the credibility of the information.
Harnessing the power of news for leading insights
Screening companies based on news articles can be challenging due to the intricacies and complexities of the available information.
That’s why we employ NLP, NER, and AI in our Business Radar solution to deliver reliable and actionable information, improving risk management and compliance.