Introducing BloombergGPT

BloombergGPT is a 50-billion parameter large language model specifically designed for finance, outperforming similar models on financial NLP tasks while maintaining competitive general performance. The model was trained on a comprehensive dataset of 363 billion financial tokens and 345 billion public tokens, totaling over 700 billion tokens. Additionally, JPMorgan Chase is exploring AI tools like GPT models for financial securities selection, while a chatbot named IndiaGPT assists users with questions about the Indian Constitution and IPC.

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Introducing BloombergGPT

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Sukumar Roy

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Introducing BloombergGPT, Bloomberg’s

50-billion parameter large language model,

purpose-built from scratch for finance
March 30, 2023

BloombergGPT outperforms similarly-sized open models on financial

NLP tasks by significant margins — without sacrificing performance
on general LLM benchmarks

Bloomberg researchers pioneered a mixed approach that combines both finance data with general-
purpose datasets to train a model that achieves best-in-class results on financial benchmarks, while
also maintaining competitive performance on general-purpose LLM benchmarks.

s a financial data company, Bloomberg’s data analysts have collected and maintained financial
language documents over the span of forty years. The team pulled from this extensive archive of
financial data to create a comprehensive 363 billion token dataset consisting of English financial
documents.

This data was augmented with a 345 billion token public dataset to create a large training corpus
with over 700 billion tokens.

Using a portion of this training corpus, the team trained a 50-billion parameter decoder-only
causal language model. The resulting model was validated on existing finance-specific NLP
benchmarks, a suite of Bloomberg internal benchmarks, and broad categories of general-
purpose NLP tasks from popular benchmarks (e.g., BIG-bench Hard, Knowledge
Assessments, Reading Comprehension, and Linguistic Tasks). Notably, the BloombergGPT
model outperforms existing open models of a similar size on financial tasks by large margins,
while still performing on par or better on general NLP benchmarks.
the bank plans to use A.I. powered by “Generative Pre-trained Transformer (GPT) models.”

“It’s an A.I. program to select financial securities,”

Lori Beer, Global CIO at the bank,

Beer outlined the JPMorgan Chase approach during the bank's Investor Day in May.

"We couldn't discuss AI without mentioning GPT and large language models. We recognize
the power and opportunity of these tools and are committed to exploring all the ways they
can deliver value for the firm. We are actively configuring our environment and capabilities
to enable them. In fact, we have a number of use cases leveraging GPT4 and other open-
source models currently under testing and evaluation.”

On May 11, JPMorgan filed a trademark application with the U.S. Patent and Trademark
Office for “IndexGPT,” an A.I. software service that can be used for the “selection of
financial securities and financial assets.” The filing was first cited in a CNBC report.

Trademark attorney Josh Gerben told CNBC’s Hugh Son that the move is a “real indication”
that JPMorgan might soon launch an A.I. product for investors. “Companies like JPMorgan
don’t just file trademarks for the fun of it,” he said. “This sounds to me like they’re trying to
put my financial advisor out of business.”
Welcome to IndiaGPT
An AI-powered chatbot that provides accurate and comprehensive answers to any questions
related to the Indian Constitution or IPC (Indian Penal Code).

Our chatbot is designed to assist individuals in understanding the intricacies of the Indian
legal system.

Powered by OpenAI ChatGPT.

Hello! I am IndiaChatAI, your virtual assistant. I am here to help you with any questions you may have
related to your fundamental rights, the Indian Constitution, and the Indian Penal Code (IPC). Please
feel free to ask me any questions, and I will try to provide you with clear and straightforward
answers.