Artificial Intelligence

Bloomberg unveils Bloomberg GPT, a finance-focused AI model

Bloomberg, a leading financial data services provider, this week unveiled a new artificial intelligence (AI) model Bloomberg GPT that aims to revolutionize the finance industry in the same way that programs like OpenAI’s ChatGPT are designed to fundamentally replace written communication. Are ready.

A research paper released by the company on Thursday details the development of Bloomberg GPT, a new big language model (LLM) that has been trained on massive amounts of financial data to assist with various natural language processing (NLP) tasks within the financial industry. Has gone. , In simple English, Bloomberg GPT is an advanced machine learning software that can rapidly analyze financial data to help assess risk, judge financial sentiment, and potentially automate accounting and auditing tasks, etc. .

The complexity and unique terminology of the financial industry requires an AI that is specifically trained with financial datasets, Bloomberg said in a release. Bloomberg GPT will have access to the vast amount of data available on the Bloomberg Terminal – a computer software system used by investors and financial professionals to access real-time market data, breaking news, financial research and powerful analysis.

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BloombergGPT is an Artificial Intelligence (AI) learning model that will be able to provide real-time analysis of financial data from the Bloomberg Terminal, assisting in a variety of tasks for analyzing financial markets and making investment decisions.

In this illustration, the welcome screen for the OpenAI “ChatGPT” app is displayed on a laptop screen in London, February 3, 2023.

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“For all the reasons generative LLMs are attractive – to name a few – one-shot learning, text generation, conversational systems, etc. – we see tremendous value in developing the first LLM focused on the financial domain,” said Sean Edwards, Chief Technology Officer at Bloomberg. “BloombergGPT will enable us to tackle many new types of applications while providing high performance with faster time-to-market than custom models for each application.”

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To begin training BloombergGPT, Bloomberg engineers used “an extensive 363 billion token dataset consisting of English financial documents” available from the company’s existing data creation, collection and curation resources.

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The engineers also trained the model with general-purpose datasets, with the goal of creating a “best-in-class” financial AI that is also competitive at performing common tasks. The result was the creation, from scratch, of a new 50-billion parameter decoder-only AI program.

“The quality of machine learning and NLP models depends on the data you feed them,” said Gideon Mann, head of the ML Product and Research team at Bloomberg. “Thanks to the collection of financial documents Bloomberg has curated over four decades, we were able to carefully build a large and clean, domain-specific dataset to train the LL.M. Is.”

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