The Zeta Economic Index, launched Monday, uses generative AI to analyze what its developers call"trillions of behavioral signals" to score growth on both a broad level and for stability.Measuring the strength of the sprawling U.S. economy is no easy task, so one firm is sending artificial intelligence in to do the job.
"So instead of looking at the data in the rearview mirror like everybody else, we're trying to put it out in advance to give a 30-day advanced snapshot of where the economy is going," he added.The eight verticals the economic index uses include automotive activity, dining and entertainment, financial services such as credit line expansion, health care, retail sales, technology, and travel.
Together, the goal is to provide something more expansive than gross domestic product and similar measures to gauge growth. "This is maybe a more holistic way of really predicting the economy, because not only are you taking the existing economic indicators around GDP, employment, all the different reporting that comes down on different vertical sales, you're layering on top of it," Steinberg said.