BloombergGPT is an artificial language large language model developed by Bloomberg to enhance its finance products. LLMs are algorithmic artificial intelligence programs that employ sophisticated statistical techniques to dissect and comprehend natural languages.
Since then, GPT language models have gained popularity among organizations looking to leverage AI technology forAccording to Bloomberg, its GPT large language model for finance was trained using a 345-billion token public data set. Furthermore, the AI’s NLP in finance capabilities were validated usingbenchmarks that included Bloomberg’s own custom standard and other popular benchmarks, such as BIG-bench Hard, Knowledge Assessments, Reading Comprehension and Linguistic Tasks.
These developments have prompted many tech companies, including Google, one of Microsoft’s most formidable competitors, to enter the AI race. Bloomberg Terminal is a service provided by Bloomberg that is designed for clients seeking valuable insights into financial markets. The product offers access to financial news, analytics and trading tools to facilitate informed decision-making.
CNET, a leading tech media company, also recently acknowledged publishing content produced using its in-house AI system. According to the company, AI undoubtedly has a role in journalism, but the technology also has its drawbacks. This boosts engagement by allowing users who don’t want to read articles to consume content on the go. By automating the text-to-voice process, media companies are also able to allocate their resources toward other crucial aspects of content production, such as research or editing.
Media companies such as Yahoo and The Associated Press are already making use of such AI models for financial NLP tasks. The tasks include statistical parsing to generate articles such as quarterly earnings reports tailored for the financial industry audience.Media companies typically seek to improve their online presence and engagement with their audiences, and AI technology has the capacity to enhance these aspects. Social media descriptions can, for example, be generated using AI.