Priya 2 years ago

admin #technology

A new index is using AI tools to measure U.S. economic growth in a broader way

The Zeta Economic Index, launched recently, employs generative AI to analyze "trillions of behavioral signals" and score economic growth and stability. In June, the economic and stability scores were 66 and 66.1, respectively, indicating a stable and active economy. The index evaluates the U.S. economy by examining consumer activities across eight sectors: automotive, dining and entertainment, financial services, healthcare, retail, technology, and travel. It integrates traditional economic data like unemployment and retail sales with high-frequency behavioral data from 240 million Americans. This approach aims to provide a 30-day advanced economic snapshot, unlike traditional methods that rely on historical data. David Steinberg, Zeta Global’s CEO, emphasizes the index's holistic nature, predicting economic trends by analyzing actual spending, reading, and research behaviors. The goal is to offer a more comprehensive economic forecast compared to conventional measures like GDP, providing a nuanced understanding of economic health and consumer resilience.