What BloombergGPT Brings to the Finance Table

Last week, Bloomberg released a research paper on its large language model BloombergGPT. Trained on over 50 billion parameters, the LLM model will be a first-of-its-kind AI generative model catering to the finance industry. While the move may set a precedent for other companies, for now, the announcement sounds like a push for the data and news company to seem relevant in the AI space.  Interestingly, Bloomberg already has Bloomberg Terminal, which employs NLP and ML-trained models for offering financial data. So, naturally, the question that arises is: how much of a value-add is BloombergGPT and where does it stand in comparison to other GPT models?  Training and Parameters Bloomberg’s vast repository of financial data over the past forty years, has been used for training the GPT model. It is trained on 363 billion token proprietary datasets (financial documents) available from Bloomberg. In addition, 345 billion token public datasets were also incorporated to result