With ChatGPT and generative AI dominating the news cycle, Yahoo Finance caught up with CEOs utilizing some new AI platforms.
Toggle AI CEO Jan Szilagyi discussed how his company's AI platform could help investors. Szilagyi said, "ChatGPT is of course in the limelight because everybody is now learning how to use this technology. What we have taken is foundationally the same model, but we've trained it specifically and much more narrowly on financial analytics."
Thomson Reuters (TRI) announced a partnership with Microsoft (MSFT) at Microsoft Build 2023. Thomson Reuters CEO and President Steve Hasker discussed how this new tool could greatly assist lawyers in the field. Hasker said, "The idea is that a lawyer can go into Microsoft Word and use a large language model, an AI model, to auto-generate the first version of a contract, and allows an attorney, in real time, make the edits and ensure that that draft contract is perfectly accurate."
00:00:03 - Toggle AI CEO Jan Szilagyi
00:00:52 - Thomson Reuters CEO and President Steve Hasker
TODD SZILAGYI: The best way to think about this intelligent data analytics platform that is Toggle is that it sits on a very large mountain of data. And it's constantly giving a number of these assets a daily health check. There are so many things that you could look at as to do you have fever today, are you coughing, and so on? And same things happen in the market.
We would struggle to go through everything every day with the Fed statement and so on. But computers don't. And so then they can summarize in a few bullet points the three things that you should pay attention to today. ChatGPT is, of course, in the limelight because everybody is now learning how to use this technology. What we have taken is foundationally the same model, but we've trained it specifically and much more narrowly on financial analytics.
STEVE HASKER: Microsoft announced with us last week at their build conference the idea that a lawyer can go into Microsoft Word and can use a large language model, so an AI model to auto generate the first version of a contract. And allows an attorney to in real-time make the edits and ensure that draft contract is perfectly accurate and ready for prime time.
I think enables a lawyer to do in seconds what previously may have taken hours to do. Our view of this is it will enable lawyers no matter what their tenure to get to the fun stuff, to get to the more interesting problem-solving, to get to the work that adds value to their clients. And we think that's a really healthy step forward for the profession.