State Street has launched the new Quantextual Idea Lab that combines machine learning and human expertise to better assess research reports and deliver improved insights to investment professionals.

The lab has been developed by State Street Global Exchange, the data and analytics arm of State Street. It will leverage machine learning algorithms to evaluate research reports, tag them by investment themes and assets and suggest relevant materials based on the end-user’s requirements.

The findings of the algorithm are complemented with the market knowledge of Quantextual’s research team.

Among the various features of the lab include the automated document classification feature, human-curated content and conclusions, and social collaboration tools.

State Street Global Exchange head of Quantextual Research Stephen Lawrence said: “Through Quantextual, we’ve designed a workflow that empowers the transformation of carefully curated ideas into decisive and strategic action. As more investment firms shift to a model of covering research costs out of their own P&L’s, an additional benefit of Quantextual is that it allows them to systematically review research consumption, to help them optimize their research spend.”