The online news aggregator application called Inshorts has inaugurated artificial intelligence (AI) based information summarization on its platform.
Inshorts is a news app that chooses and picks latest and best news from various national and international sources and summarises them to present in a short and crisp 60 words or less format. The attribute of the app is built on Rapid60 algorithm which automatically summarizes a full-length news article to sixty words article brief along with a headline and a card image as well.
In this regard, the words of Azhar Iqubal, CEO of Inshorts were that the human curation comes with a restriction on how many numbers of articles they can produce, and with this idea, they plan to increase the number of articles being published on its platform to 1 lakh per month from 10,000 per month.
According to the reports, the stated Rapid60 algorithm has been in preparation for more than a year now, and it has been instructed primarily based on a database of greater than half a million articles which were summarized by Inshorts editors over the last five years. Inshorts will now use this algorithm to summarize prolonged articles and niche interest tales in the English language.
“The highest learn tales on the app will nonetheless be manually written since they want excessive consideration.” expressed Iqubal.
The news platform had lately been earning higher profits and gain success in November 2017. The net revenue of Inshorts amounted to Rs 25 crore in 2017, as compared to Rs 3 crore in the previous year.
Anunay Arunav, Inshorts CTO said, “Before finalizing, we had to run a lot of pilots in order to achieve a certain level of accuracy. With the existing solution, we are sure that we have been able to remove inefficiencies from the system thereby helping create a fast-paced news summarization platform for the industry.”
The company has now set certain goals and is focusing to achieve a net revenue run rate of Rs 100 crore in the financial year 2018-19, with income coming in from branded associations and sponsored content.