Bloomberg Reveals Financial Data AI Technology
Bloomberg, a financial media company, has introduced an advanced artificial intelligence (AI) model which aims to explore new possibilities for utilizing the data available on the company's terminal. This development has been widely recognized, with some referring to it as the next era of corporate AI.
Bloomberg released a research paper on March 30, which outlines the creation of BloombergGPT, an AI model trained on a vast financial data set to perform several natural language processing tasks. Following the publication of the research paper, several members of the community reacted by commending the recent advancement in the field of AI and offering their speculations for what the future may hold.
Following the release of the research paper, Ethan Mollick, a Wharton professor, took to Twitter to praise the new BloombergGPT AI and predict that it may usher in the next wave of corporate AI. Mollick believes that the AI shows promising signs of being better at financial tasks.
Other members of the community also shared their predictions, with one Twitter user warning that the new AI may lead to the gamification of financial markets on an unprecedented level. Another user suggested that the AI could potentially replace financial analysts if it works as intended. Meanwhile, the news of Bloomberg's new AI model coincided with Italy's decision to temporarily block OpenAI's ChatGPT and launch an investigation into possible violations of data privacy rules.
Sources:
https://cointelegraph.com/news/bloomberg-reveals-ai-for-financial-data-community-responds
https://interestingengineering.com/culture/bloomberggpt-ai-entry-financial-realm
https://www.foxbusiness.com/markets/bloomberg-unveils-finance-focused-ai-model-bloomberg-gpt
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