BloombergGPT: Bloomberg develops AI model for the financial market

The company intends for the model to achieve top results in financial benchmarks and maintain solid performance in general-purpose large language model standards.

The model It already outperforms other similar-sized open houses focused on financial natural language processing tasks, which is a big step forward for the financial sector. Financial analysts and investors will be able to better understand market trends, individual stocks, and other important financial information with the help of BloombergGPT.

BloombergGPT is being trained with data collected from Bloomberg itself

According to Gideon Mann, head of Bloomberg's research and product team, “BloombergGPT will enable us to handle many new types of applications, while delivering much higher performance out of the box than custom templates for each application, at a launch time in the faster market.”

Also according to the executive, all the information collected by the company over the last four decades makes the development of the project viable. This is because Bloomberg's AI can be trained with the database itself in a clean way. “We’re excited to use BloombergGPT to delight our customers and imagine new ways to put this model to work,” concluded Mann.

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