TL;DR:
- Bloomberg has launched its own Large Language Model (LLM), Bloomberg GPT, for financial services.
- They are hiring for key positions in their CTO office, including a technical product manager and an applied LLM researcher.
- Salaries for these roles are high but comparatively lower than some research roles in the field.
- Goldman Sachs’ CEO has highlighted a talent shortage in people knowledgeable about the latest LLMs and transformers.
- Bloomberg wants researchers with expertise in code synthesis, information retrieval, natural language processing, and deep learning research.
- Coding proficiency in the future may rely more on crafting the right prompts and interacting effectively with LLMs.
- The demand for prompt engineering roles is increasing in the financial services industry.
- Bloomberg aims to revolutionize how engineers write code using LLMs.
- The competition for these roles will intensify as organizations strive to leverage LLMs and transformers for innovation.
Main AI News:
The race to harness expertise in deploying Chat-GPT within the financial services sector has ignited. Bloomberg, a prominent financial news organization, recently unveiled its very own Large Language Model (LLM), the Bloomberg GPT. In a bid to bolster its capabilities, Bloomberg is actively recruiting for key positions within its CTO office. Notably, there are two significant roles up for grabs: a technical product manager and an applied LLM researcher.
The technical product manager will assume the mantle of spearheading Bloomberg’s technical strategy concerning large model training and serving. This critical role entails taking ownership and driving the company’s direction in this domain. On the other hand, the applied LLM researcher will play a pivotal role in strategic research, paving the way for innovative developments that can be translated into valuable products for clients.
Undeniably, these positions offer substantial financial rewards. The product manager has the potential to earn an impressive salary of $295,000, while the researcher is compensated with a handsome sum of $330,000. However, when compared to similar research roles in the field, these figures, though noteworthy, fall slightly short.
Anthropic, a renowned research firm based in San Francisco, has recently augmented the salary range for a prompt engineer and librarian role. Initially valued at $335,000, the position now commands an enticing $375,000. Furthermore, a research engineer boasting “extensive engineering experience” stands to receive an astonishing $450,000.
The role of product management revolves around complete “ownership” of Bloomberg’s technical strategy for large model training and serving. On the other hand, the more lucrative research role focuses on aiding “code generation to revolutionize how engineers write code.”
These positions come in response to Marco Argenti, the CEO of Goldman Sachs, who expressed concerns about a scarcity of talent proficient in the latest LLMs and transformers. Goldman Sachs also intends to employ LLMs for code generation, with Argenti stating that “up to 40%” of the code generated during tests proved to be usable.
This begs the question: Are prompt engineering roles the future? Prospective computer science students may contemplate shelving their ambitions to learn coding. Vivek Nashar, CEO of HackerRank, a renowned testing company, shared his insights with eFinancialCareers.
According to Nashar, coding proficiency in the future will depend more on “crafting the right prompt, interacting effectively, understanding limitations, and knowing when to let the system take charge.” Nevertheless, the landscape might not be as straightforward as it seems.
Bloomberg, in its quest for excellence, demands its researchers to hold a Ph.D. in disciplines such as code synthesis, information retrieval, natural language processing, and/or deep learning research. By setting such high academic standards, Bloomberg is positioning itself at the forefront of groundbreaking advancements in the field.
Conlcusion:
The emergence of Bloomberg’s Large Language Model (LLM), Bloomberg GPT, and the increasing demand for talent in the field of LLMs and transformers indicate significant developments in the market for financial services. With the recruitment of key positions, such as technical product managers and applied LLM researchers, Bloomberg aims to solidify its position as a leading player in leveraging LLM technology for code generation and innovative product development.
The competition, as highlighted by Goldman Sachs’ CEO, emphasizes the growing importance of expertise in the latest LLMs and transformers. As coding proficiency evolves to focus on crafting effective prompts and maximizing LLM capabilities, the market will witness a shift in the skill sets required for success. This trend signifies the ongoing integration of advanced language models and artificial intelligence into the financial services landscape, which will undoubtedly shape the future of the industry.
