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BloombergGPT: Bloomberg to launch its own AI model for financial market

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AI trained on data that is specific to financial markets.

Bloomberg, which is largely known as a media house, also offers financial software and enterprise applications for financial organizations, and its new AI model is designed to help its customers unlock new opportunities that are available with Bloomberg.Since its founding in 1981, Bloomberg has been collecting and maintaining data in the form of financial language documents.

BloombergGPT was found to fare better than existing open models of similar size on financial tasks while also performing on par if not better than general NLP benchmarks, the press release added. Bloomberg wants to use the domain-specific model it has developed to assist its customers with financial NLP tasks such as sentiment analysis, named entity recognition, news classification, and question answering. Further, the model is expected to unlock new opportunities by sifting through vast quantities of data available on its Terminal software which is used to monitor and analyze financial markets data.

 

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Bloomberg unveils finance-focused AI model Bloomberg GPTBloomberg, a leading business and financial information company, has unveiled a new artificial intelligence (AI) learning model called BloombergGPT, which will assist financial professionals with a variety of natural language-processing tasks. Seems like there’s an AI for anything lately
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