Are Your Macroeconomic Monitoring Tools Up to Date?

Are Your Macroeconomic Monitoring Tools Up to Date?

At Robonomist, we are dedicated automation enthusiasts, fully committed to leveraging software robotics in data production. This means that we rarely engage in hourly-based expert work or one-off manual tasks. However, when it comes to the perfect fusion of our two favorite topics—economic data and data MacGyvering—we must admit that high-quality global economic monitoring still requires an expert human touch. And not even AI can handle that just yet.

That’s why we are making an exception to our principles and introducing a monthly macroeconomic report as part of our product portfolio. This report is written by our Chief Economist, Juha Itkonen, who has promised to deliver it by the end of each month. While Juha dreams of outsourcing his economist duties to machines, that day hasn’t arrived yet.

Why Are We Making an Exception?

Major global economic shifts unfold before our eyes daily, but identifying the truly relevant information is like searching for a needle in a haystack. The flood of news often lacks a clear timeline, and the real effects of events remain uncertain. That’s why we curate and explain the most important developments, impacts, and key insights in the global economy every month, providing executives with easily digestible information for decision-making.

But don’t worry – we’re not abandoning our faith in automation, not even for this project! 

Alongside the report, we have developed a fully automated dashboard for monitoring the global economy. This tool allows users to track economic indicators for every country in the world conveniently and in real time. The dashboard gathers comparative data from sources such as Eurostat, the World Bank, and other key institutions, updating automatically every day. We offer these services together under the Macropulse.

Thanks to automation, we can ensure that data is always up-to-date and reliable without requiring anyone to sit in front of a screen making manual updates. This saves time and resources while enabling faster responses to economic changes. Users can easily compare, for example, GDP trends, industry structures, and trade flows in Finland, India, and the United States. They can also access economic forecasts and country-specific comparisons on economic performance, living conditions, prices, consumer confidence, and foreign trade data.

Will AI Replace Economists One Day?

Not in 2024. At Robonomist, we have helped organizations adopt advanced AI, build custom forecasting models, and integrate market intelligence into decision-making. However, when it comes to interpreting major economic shifts, Juha still beats AI and automated data services 6–1. That said, we’ve helped machines score one extra point: as OpenAI’s API costs have dropped by about 90%, using the most advanced AI models—fine-tuned with your own data—is now more efficient than ever.

Get in touch with us to learn more about our solutions, and read more here: Macropulse.