Bloomberg LP has developed an AI model using the same underlying technology as OpenAI’s GPT, and plans to integrate it into features delivered through its terminal software, a company official said in an interview with CNBC.
Bloomberg says that Bloomberg GPT, an internal AI model, can more accurately answer questions like “CEO of Citigroup Inc?”, assess whether headlines are bearish or bullish for investors, and even write headlines based on short blurbs.
Large language models trained on terabytes of text data are the hottest corner of the tech industry. Giants such as Microsoft and Google are racing to integrate the technology into their products, and artificial intelligence startups are regularly raising funds at valuations over $1 billion.
Bloomberg’s move shows how software developers in many industries beyond Silicon Valley see state-of-the-art AI like GPT as a technical advancement allowing them to automate tasks that used to require a human.
“Both the capabilities of GPT-3 and the way that it achieved its performance through language modeling wasn’t something that I expected,” said Gideon Mann, head of ML Product and Research at Bloomberg. “So when that came out, we were like, ‘OK, this is going to change the way that we do NLP here.’”
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