Introducing GenAI Earnings Transcript Summaries: How Analysts Catch Up on Earnings Calls Faster With VerityData

Summarization is a strength of generative AI, so we’ve tasked the tech with providing pithy summaries of earnings call transcripts.

Katya Taycher, SVP, Product & Operations
October 23, 2023

Unless you have been living off the grid for the past year, you’ve encountered or used generative AI tools like ChatGPT, Bard, or others.

At Verity, we’ve made significant strides in incorporating intelligent, sensible GenAI features in VerityRMS. During this time, we’ve also interfaced with customers as we’ve pursued materially useful generative AI applications in our VerityData products.

As we and others have noted, generative AI has very real limitations in terms of what we can expect it to achieve successfully. GenAI’s hallucinations, or making up of information, is one of the main limitations — and a core barrier to investment teams. While GenAI is not yet reliable for providing new thoughts on any given topic, it excels at summarizing existing content.

In this blog, I will share the first GenAI enhancement released as part of VerityData | inFiling: summaries of earnings call transcripts.

GenAI Summaries for Earnings Call Transcripts

Since summarization is a strong suit for GenAI, we’ve tasked the technology with providing pithy summaries of earnings call transcripts.

Verity’s GenAI Earnings Transcript Summaries are structured summaries that prioritize guidance, KPIs, and key drivers for companies reporting quarterly earnings. The summaries are generated from VerityData’s proprietary LLM and unique prompts guided by industry-leading investment researchers, resulting in a concise, factual, and unbiased summary for investors.

Based on what we’re hearing from customers and in the market, two use cases shine for the feature:

  • When an analyst needs to catch up on a new company or sector in the portfolio and wants to absorb a large volume of information quickly.
  • When an analyst needs to stay on top of high-volume time periods, such as earnings season

Example Transcript Summary: Proctor & Gamble

Customers can now subscribe to get these summaries for the companies on their watchlist as soon as the transcripts are made available. Interested? Please contact your customer success team to opt in.

A First Step of Many

The transcript summaries are one of many GenAI enhancements planned for the VerityData products. In the short term, we’re also working on AI-generated summaries of various sections of 10-Ks and 10-Qs, as well as period to period filings’ comparisons, while continuing to look at other applications.

In the long term, we’re especially excited about the possibilities for layering GenAI across a multitude of VerityData datasets — insider activity, management changes, buyback, institutional holdings, and more — that go back as far as 2004.

Our vision is to continue to enhance the mosaic of data points that investment teams need by triangulating:

  • What insiders are saying (earnings call transcripts)
  • What insiders are actually doing (their trading history and the firm’s buyback activity)
  • What the street is thinking (13F data)

Bottom Line

While generative AI certainly has its limitations right now, its prowess in summarizing existing content can and should be considered seriously by investment teams. With this new feature, VerityData can provide teams with fast access to essential information, especially during high-volume periods like earnings season.

Could Your Process Be Faster? 

Accelerate analysis of SEC filings with clean, structured, and exclusive data available through VerityData | inFilings.

Explore VerityData | inFilings >>

Katya Taycher, SVP, Product & Operations

Katya Taycher is Senior Vice President of Product & Operations at Verity. In her product development career spanning over two decades, she has worked closely with global fund managers to solve pressing problems through innovation & technology. She graduated from MIT and has an MBA from the Wharton School of Business.

Related Resources

Outperformance Starts Here

See how Verity accelerates winning investment decisions for the world's leading asset managers.

Request a Demo