"At just after 12.30pm on Wednesday, the machine will be listening, the trading algorithms ready, and billions of pounds of buy-and-sell orders stacked up awaiting Rachel Reeves's budget. For the first time on the London trading floor of Deutsche Bank, a custom-built artificial intelligence tool will tune in to the chancellor's speech. It will transcribe her words, spot shifts in tone and spit out alerts when the numbers deviate from expectations."
"For months, Reeves has been schmoozing the biggest players in the 2.7tn UK government debt market, including hosting the bosses of Goldman Sachs and JP Morgan in Downing Street, in a bid to ensure smooth passage for her multibillion-pound tax and spending plans."
Deutsche Bank has developed a custom natural-language AI trained on Rachel Reeves's recent public appearances to transcribe her budget speech in real time, detect tonal shifts, and flag numerical deviations from expectations. The tool aims to provide trading alerts and an edge for managing billions of pounds of buy-and-sell orders. Markets treat the upcoming budget as a bond-market event because of large government borrowing, rising debt interest costs, and lingering fallout from Brexit and the mini-budget. Reeves has engaged major debt market players to secure support for her tax and spending plans. Market disruption risks higher borrowing costs and broader economic spillovers.
Read at www.theguardian.com
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