Inspired by the same underlying technology that powers OpenAI’s GPT, Bloomberg LP has developed BloombergGPT. The model is set to be integrated into features offered through Bloomberg’s terminal software, according to a company official’s recent interview with CNBC.

This in-house AI model takes artificial intelligence to the next level. It boasts the ability to provide more precise answers to questions like “Who is the CEO of Citigroup Inc.?”, but it can also evaluate whether headlines carry a bearish or bullish connotation for investors and can craft headlines based on brief snippets of information.

The race for LLM dominance is heating up. Microsoft and Google are scrambling to incorporate generative AI into their offerings, and Amazon says it’s getting into the game, too. Everyone I know is working on an AI app; we learn about three to five new AI startups (or “killer apps”) every day.

Bloomberg’s foray into the world of AI is a clear indication of the shifting landscape across industries. Productivity is the key driver of economic growth, and every company (no matter the industry) can benefit from an increase in productivity. It seems the ability to automate tasks that were once solely within the realm of human capability is irresistible.

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