At just after 12.30pm on Wednesday, the machine will be listening, the trading algorithms ready, and billions of pounds of buy-and-sell orders stacked up awaiting Rachel Reeves’s budget.

For the first time on the London trading floor of Deutsche Bank , a custom-built artificial intelligence tool will tune in to the chancellor’s speech. It will transcribe her words, spot shifts in tone and spit out alerts when the numbers deviate from expectations.

“As we get it, in real time, we’ll be able to decipher it,” says Sanjay Raja, the bank’s chief UK economist. The natural language model has been trained on the entirety of Reeves’s recent public appearances: media interviews, conference speeches, the spring Office for Budget Responsibility (OBR) forecasts and last year’s budget. All with th

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