Bloomberg has developed its own AI model, BloombergGPT, based on the technology behind OpenAI's GPT

The company is planning to integrate it into its terminal software, where it will be used to automatically answer questions about businesses, assess the impact of news headlines on the markets, and write headlines based on short blurbs.

BloombergGPT has shown promising results in automating tasks that used to require human intervention, including changing company names to stock tickers and identifying important names in a document.

Bloomberg’s GPT doesn’t use OpenAI.

The language model was trained on Bloomberg's own data, YouTube subtitles, Wikipedia, and GitHub. Neural network developers also used the FinPile database.

The move highlights how companies in various industries are increasingly leveraging advanced AI models to streamline their operations and improve accuracy.