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- 1 The media is embracing Artificial intelligence; is this a smart move for the media while other companies are reacting to this idea?
- 2 We will be looking at how the media is embracing AI and the reasons why the media is accepting this move.
Meta Description: In this article, we are going to look at how the media is accepting the media. We will be solely focusing on the BloombergGPT technology that Bloomberg is using. We will be discussing how this AI technology has helped the company generate financial data.
Artificial Intelligence (AI) is the technology that is being embraced because of its flexibility and ability to tackle complex ideas beyond human power. AI has been gaining fame since 2020; it has the abilities of a robot. The purpose of AI is to provide input and output to computer software; in short, it provides decisions to human beings. We will be looking at how the media has embraced this technology, and we will be looking at a specific AI, BloombergGBT.
Media Companies Embracing AI
Artificial Intelligence is being received by the media very differently; for instance, some companies are rejecting AI from accessing their content, while others are generating content from it. For instance, big companies have taken the AI issue very seriously, and CNN banned the use of AI to get access to their news. This is not the only big media company that has banned AI from generating its content. In the United States, ESPN, The Washington Post, and The Atlantic have taken the same step, just like CNN.
While some media outlets may have banned the use of AI in generating their news, several companies have accepted and embraced AI. For instance, entertainment companies have gone ahead and embraced this technology; a good example is Netflix. During its job listing list in July, it happened to list AI in its role. During the first quarter of the year, several companies projected their earnings, and a world-known media; BuzzFeed, laid off its employees. More than 200 employees were laid off; the company did this after projecting that it would be learning Artificial intelligence. This means that it has embraced AI.
Overview Of BloombergGPT
The Bloomberg organization is a financial firm that provides financial data to its customers. The BloombergGPT ecosystem is developed in a way that can tackle financial data that entails Natural Language Processing (NLP) in finance. BloombergGPT is a large-scale AI version that is developed in a Large Language Model (LLM). The company’s integration of Artificial Intelligence into its ability to provide diverse services in finance For instance, it developed BloombergGPT, which will seek to provide better natural language processing to its customers and businesses.
The ecosystem of the GPT that is used by Bloomberg is developed to not only generate financial data but also come up with unique terminologies for finance so that the GPT can produce content that is only relevant to the company. The GPT that is being exercised by the company is from the chatGPT ecosystem. We understand that chatGPT depends on a huge amount of training data to understand complex patterns and also uses grammatical rules to generate content that is similarly written by humans.
How was BloombergGPT built? Bloomberg went on to reveal how it developed the AI technology for its system. It said that the finance GPT language was trained by over 350 billion data sets. Additionally, the AI finance natural language processing was authenticated by chatGPT natural language processing. Its system was developed by a major benchmark that was initiated by Bloomberg Customs. For instance, it developed knowledge assessments, linguistic tasks, and reading comprehension. This will help the media come up with news that is similar to human-written or produced news.
Reasons Media Companies Are Embracing AI
AI has been used by the media since before; the only secret they had was not using it publicly. Since the publicity surrounding AI, the approach has been received differently. Different companies accepted the technology, while others rejected it. The ability of AI to produce content was widely accepted by companies. Its flexibility, time savings, and ease of access made companies embrace it while increasing engagement.
For instance, companies have used AI in different styles; for instance, developments in different AI have managed to analyze content generated. It can produce large amounts of content in a short period of time. In the future, AI technology will be a necessity for media companies.
For instance, the machine-learning AI ecosystem is built to produce images from text. For instance, the media company uses AI to generate Voice-To-Text or even videos from text. For instance, the ability of media to use the Machine Learning Algorithm to generate audio from written content has made it approachable by the media differently; the media is engaging in them since they save time and are acquired cheaply. This helps to save on media costs.
Conclusions
Bloomberg’s approach to AI is different; the development of the BloombergGPT system is designed to produce its content differently. For instance, the ecosystem will not be able to produce content in different languages since the system is sophisticated enough to produce content in English only.
This is a disadvantage for the media since you cannot produce content in different languages. Additionally, different media will not be able to access this service; the BlombergGPT is developed to work according to Bloomberg terms. This limits other media companies from accessing this service.
This development is a clear indication that media companies are accepting the use of AI in their systems. This shows that the AI language is improving. This version promises a better user experience for media organizations.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
