Bloomberg 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 says.
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.
The move also shows how the AI market may not be dominated by giants with massive amounts of generalized data., requiring access to supercomputers and millions of dollars to pay for them, and some have wondered if OpenAI and Big Tech companies would develop an insurmountable lead. In this scenario, they would be the winners, and simply sell access to their AIs to everybody else.
It also can do some “generative AI” applications, like suggesting a new headline based on a short paragraph.Input: “The US housing market shrank in value by $2.3 trillion, or 4.9%, in the second half of 2022, according to Redfin. That’s the largest drop in percentage terms since the 2008 housing crisis, when values slumped 5.8% during the same period”OpenAI’s GPT is often called a “foundational” model because it wasn’t intended for a specific task.
About half of the data used to create Bloomberg’s model comes from nonfinancial sources scraped from the web, including GitHub, YouTube subtitles, and Wikipedia.
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