🤖 Bloomberg's AI Model is Revolutionizing Finance 🏦

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This is Not A Bot - the newsletter about AI that was definitely not written by AI. I’m Haroon, founder of AI For Anyone, and I share the latest news, tools, and resources from the AI space.

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🧵 In today's edition:

• 🏦 Bloomberg's 50B Parameter AI Model is Revolutionizing Finance

• 🤑 AI Fundraising News

🤖 Top AI News

🏦 Bloomberg's 50B Parameter AI Model is Revolutionizing Finance

Bloomberg just dropped some exciting AI-related. They've released a research paper unveiling their latest creation, BloombergGPT. This large-scale generative AI model has been specifically trained on a vast array of financial data to support natural language processing tasks within the financial industry.

To make this happen, Bloomberg developed one of the largest domain-specific datasets out there. This dataset was used to train a 50-billion parameter decoder-only causal language model, which outperforms similarly-sized open models on financial NLP tasks by significant margins. But that's not all - it also maintains competitive performance on general-purpose NLP benchmarks.

In a nutshell, BloombergGPTTM is a game-changer for financial NLP tasks. It's exciting to see how AI is continuing to transform the finance industry, and we can't wait to see what else Bloomberg has in store.

Read more: Bloomberg / Research paper

🤑 AI Fundraising News

AI startup Fourthline locks down $54M - an Amsterdam-based AI startup that helps finance companies meet demands for better identity verification, anti-money laundering compliance, and other necessary security measures.

Redefine.dev Raises $8.5M - an AI-powered CI optimization platform based in Tel Aviv.

🗞️ Byte size: AI article summaries

Disclaimer: AI is (partially) used to summarize these articles.

Bill Gates: AI is most important tech advance in decades [BBC News] - Bill Gates is a strong advocate for AI development, believing it to be the most important technological advance in decades with the potential to revolutionize various aspects of life. (Read more)

FTC should stop OpenAI from launching new GPT models, says AI policy group [The Verge] - The Center for AI and Digital Policy (CAIDP) has filed a complaint with the Federal Trade Commission, asking for an investigation into OpenAI for allegedly violating consumer protection rules with their GPT-4 generative text model. (Read more)

How unbelievably realistic fake images could take over the internet - AI-generated images have rapidly advanced from DeepDream in 2015 to DALL-E in 2021, and are now so realistic they can deceive even the most discerning individuals. This raises ethical concerns, including copyright issues, potential job displacement for artists, and the danger of deepfakes spreading misinformation. (Read more)

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