Bloomberg LP, a leading financial news organization, is now harnessing artificial intelligence (AI) in a new way. They are trained an innovative model called Bloomberg GPT, based on OpenAI’s GPT. According to Gideon Mann, Head of ML Product and Research, the model is trained on massive amounts of financial data, such as securities filings and press releases, as well as natural language processing from FinPile, a proprietary dataset from Bloomberg.
This model is specifically tailored to financial topics and can give automated, accurate reports and insights regarding financial articles and news headlines. Moreover, it is able to provide “generative AI” services, such as generating headlines from short blurbs. The company does this by combining freely available, off-the-shelf AI methods with proprietary data.
This AI model reflects how the financial industry can benefit outside of Silicon Valley. It allows tasks that used to need human input to be automated. With its launch, Bloomberg is hoping to incorporate it into their Terminal product. It may include features such as summarizing information, monitoring and allowing people to ask questions about news stories or transcripts. These features can save time for professionals dealing with the data mound that is constantly produced.
Dr. Gideon Mann is Head of ML Product and Research at Bloomberg. He is a computer scientist who specializes in natural language processing and machine learning and has over 20 years of experience in tech. He is currently responsible for overseeing machine learning services at Bloomberg and is one of the key people leading the Bloomberg GPT launch.
The company Bloomberg records features and services used by clients and products, such as the Bloomberg Terminal. It is a powerful source of financial data, which has taken in news stories, securities filings, stories from other publications, and over 100 billion words from FinPile, among other sources. Bloomberg itself is a leading financial news organization, delivering real-time news, data and analytics to the world’s leaders in business and finance. It has been around since 1981 and employs over 20,000 people. It provides trading, news, analysis, and more with innovative technology, enabling clients to make more informed decisions and understand the latest trends in global markets.
