Bloomberg financial media has revealed a recent artificial intelligence (AI) model that is predicted to open up recent ways to make use of the information available in the corporate’s terminal. Many have reacted to the newest development, with some claiming it ushers within the “next wave” of corporate AI.
March 30Bloomberg released research article that details the event of what BloombergGPT calls. According to the media, the AI was created to perform various natural language processing tasks after training with a big set of economic data.
BloombergGPT is a recent LLM for Finance.
It is a language model with 50 billion parameters trained on financial data.
Has the biggest domain-specific dataset ever with 363 billion tokens… further augmented by 345 billion general purpose tokens https://t.co/OOSjSCRIEg… pic.twitter.com/yblvTJUzYd
— Elvis (@omarsar0) March 31, 2023
A couple of days after the research paper was published, various members of the community responded praising the brand new development within the AI space and making their predictions for the long run.
Ethan Mollick, professor at Wharton, tweeted that Bloomberg’s recent AI could possibly be “the harbinger of the subsequent wave of corporate AI.” Based on the research paper, the professor commented that BloombergGPT’s AI is showing signs of improvement in financial tasks.
As the news spread, community members also shared their predictions concerning the potential impacts of the brand new AI. According to for a Twitter user, this will likely not produce the result Bloomberg hopes for, commenting that financial markets will soon be gamified to “unprecedented levels”. Meanwhile, one other community he said that if AI works as intended, it could replace financial analysts. “If this works, financial analysts are almost done,” they tweeted.
Related: ChatGPT and AI must pay for the news they eat: CEO News Corp Australia
The disclosure of Bloomberg’s recent AI model comes amid news that Italy has blocked OpenAI’s ChatGPT and launched an investigation into suspected breaches. On March 31, the Italian data protection watchdog announced that it was temporarily blocking ChatGPT because it investigated potential data privacy breaches.
Magazine: Everyone stands up for a robot judge: AI and blockchain could change the courtroom
