Bloomberg Releases New AI Model To Process Financial Data

Illustration of artificial intelligence in solving financial problems. (photo: dock. Pixabay)

JAKARTA - Financial media Bloomberg announced the development of a new artificial intelligence (AI) model aimed at opening up new ways of using data available in the company's terminal. Many responded to this latest development, saying that it triggered the company's "next wave".

On March 30, Bloomberg released a research paper providing detailed information about the development called BloombergGPT. According to the media, AI has been created to carry out various natural language processing tasks after being trained with large financial datasets.

Several community members responded after the research paper was published, praising new developments in AI spaces and making their predictions for the future. A professor at Wharton, Ethan Mollick, tweeted that Bloomberg's new AI might be a "early carrier of the next wave of the company's AI". Based on the research paper, the professor commented that AI BloombergGPT shows signs of getting better in its financial duties.

As this news came to light by Reuters, community members also shared their predictions about the potential new impact of this AI. According to Twitter users, this may not have the results Bloomberg expects, commenting that the financial market will be used for games "without precedent."

Meanwhile, another community member said that if this AI succeeds, it might replace financial analysts. "If this works, financial analysts are nearing completion," they wrote on Twitter.

The disclosure of a new AI model from Bloomberg comes amid news that Italy has blocked ChatGPT from OpenAI and opened an investigation into alleged violations. On March 31, Italy's data protection watchdog announced that ChatGPT was temporarily blocked due to a potential breach of data privacy rules.