2024-01-06: Paper Summary on "FinGPT: Open-Source Financial Large Language Models" (IJCAI 2023)
1. Introduction In the rapidly advancing field of technology, with the integration of GenAI and Machine Learning, ChatGPT has garnered significant attention. The development of LLMs has advanced rapidly, demonstrating the potential to revolutionize natural language processing tasks in various domains, which has sparked considerable interest in the finance industry. FinGPT is a solution to the finance domain with the latest innovations and financial research. FinGPT was one of many industry-specific LLMs; there are other LLMs in the finance sector (e.g., Bloomberg GPT , FinBERT ). However, FinGPT promotes data accessibility and lays the foundation for open finance practices that could reshape the industry with ML, AI, and LLM. It was always challenging to extract specialized financial data, not just finance data but also with APIs, photos, and documents, these are the crucial part of model training. FinGPT has the potential to deal with suc...