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  • Frank Tian

OpenAI, BloombergGPT, and Coca-Cola

As I wrapped up my book 2.5 years ago, I identified some opportunities in consumer credit risk management.

While I didnโ€™t know about the work being done by OpenAI at that time, I narrowly focused on risk modeling and risk strategy.

I envisioned an AI bot with specialized risk domain knowledge, which makes risk management exercises faster and easier.

๐Ÿ“Œ Two years later, ๐Ž๐ฉ๐ž๐ง๐€๐ˆ released ChatGPT.

Just in time for a world that badly needs more productivity to tame high inflation.

It came in a different form from what I envisioned - a fundamental large language model (LLM).

It still amazes me how it can present knowledge simply by focusing on predicting the next word.

ChatGPT being a generalist is already impressive. How about instilling the subject matter knowledge?

๐Ÿ“Œ Here comes the ๐๐ฅ๐จ๐จ๐ฆ๐›๐ž๐ซ๐ ๐†๐๐“, built on billions of token datasets from the financial documents by Bloomberg over 40 years.

It enhances finance-specific tasks, such as sentiment analysis and news classification, and unlocks new opportunities from the vast quantities of data available on the Bloomberg Terminal.

This is an example of domain-specific AI. I can imagine every consulting company, or company that owns a large amount of data, are busy building its own AI bots.

Anyone is building the credit risk AI?

๐Ÿ“Œ Recently Chamath Palihapitiya made an interesting analogy of OpenAI vs. domain-specific AI companies.

After the refrigerator was invented, the company benefiting most from the invention is not the refrigerator manufacturer.

It is the Buffetโ€™s beloved ๐‚๐จ๐œ๐š-๐‚๐จ๐ฅ๐š.

Who is the new Coca-Cola in the AI era?

Which product is the new Coke that would occupy the refrigerator shelves?

I am glad to be at the moment - to witness the continuous advancement of human power and the shift of the business landscape.

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