Man Group, the world’s largest listed hedge fund firm, has developed ManGPT, a new portal that allows anyone in the business to access OpenAI's GPT model in a "safe and controlled fashion", according to a report by Financial News.

The report cites Chief Technology Officer Gary Collier as saying that the firm is looking at leveraging artificial intelligence to assist with idea formation and information management and summarisation.

And while the use of artificial intelligence by Man Group and other hedge fund firms, pre-dates the advent of ChatGPT in December 2022, Collier, who has been with Man Group for more than two years, says the model represents a big advance.

“I am an active user of ManGPT,” he told Financial News. “We’ve been using large language models at Man Group for a long time, but it was clear that the sophistication of the technology represented a large step forward.”