The bfloat16 (brain floating point) format is a 16-bit floating-point representation optimized for machine learning and near-sensor computing, preserving the exponent bits from the 32-bit IEEE 754 format while truncating the significand to 8 bits. This results in a wide dynamic range with reduced precision, making it suitable for AI applications across various platforms, including Intel and Google Cloud. The format has gained support from several major hardware and software technologies, facilitating its use in mixed-precision arithmetic to enhance computational efficiency.