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Will Bloomberg’s New AI for Financial Data Replace Financial Analysts? Let’s Explore.

Recently, Bloomberg announced a new artificial intelligence (AI) model, BloombergGPT, that aims to open up new ways to leverage the data available within the company’s terminal. Several people have reacted to the latest breakthrough, with some claiming that it heralds “the next wave” of corporate AI.

Lately, the dominance of AI has become more prominent on a global scale – from certain tech companies like Google turning to AI after laying off almost 12,000 employees to professionals using AI as a smarter, more efficient, and more productive approach to handling all kinds of tech-oriented tasks. With this growing adoption and dominance of AI in almost all prominent sectors today, many popular companies and influential names are turning to AI to introduce new solutions for their customers and investors – especially in the Web3 world. 

Likewise, Bloomberg released a research paper on March 30 that provides full details about the development of BloombergGPT. According to the media outlet, the AI was trained with a vast financial data set to execute various natural language processing tasks.

Several community members commented days after the research report was published, complimenting the new advance in the AI domain and giving predictions on how this AI will change the future for good. 

Community Response: 

Bloomberg’s new AI has been called a “harbinger of the next wave of business AI” by a Wharton professor. The professor noted in the paper that the BloombergGPT AI seemed to be improving at financial tasks.

When the word spread, others in the community also began offering their best guesses as to how the new AI might change things. A Twitter user speculated that the “unprecedented” gamification of financial markets could have the opposite effect that Bloomberg anticipates. 

Meanwhile, another group has speculated that if AI is successful, it could do away with the need for human financial experts. It was tweeted that “financial analysts are pretty much done” if this idea is implemented.

Among the many more tweets shared by community members regarding BloogbergGPT introduction and the recently launched research paper, some other tweets that made a valuable future prediction include: 

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