Bloomberg released a research paper detailing the development of BloombergGPTTM, a new large-scale generative artificial intelligence (AI) model. This large language model (LLM) has been specifically trained on a wide range of financial data to support a diverse set of natural language processing (NLP) tasks within the financial industry.

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.