Generative AI (GenAI) is a powerful technology that can boost productivity and creativity in various domains. A research team at the HKUST Business School has developed InvestLM, which became Hong Kong’s first open-source Large Language Model (LLM) for GenAI applications. It is capable of generating investment-related, human-like responses comparable to those of well-known commercial chatbots, including OpenAI’s ChatGPT. InvestLM’s model parameters and the insights from its development process have been made publicly available to support industry practitioners and researchers in deploying LLM-related technology.
Developed by Professor TAM Kar Yan and Professor YANG Yi, this model (based on the open-source LLaMA-65B) has been fine-tuned with a diverse set of finance and investment-related texts. Its development marks a significant shift in the landscape of AI-powered chat services, historically dominated by large corporations due to the need for extensive computing power.
Prof. TAM Kar Yan (right) and Prof. YANG Yi meet with the press to introduce InvestLM.
Rated by financial experts as comparable to state-of-the-art commercial LLMs, InvestLM demonstrates a superior understanding of financial texts and improved response accuracy without hallucinations. This development is expected to enhance the efficiency of finance professionals in tasks like investment insights and summarizing financial news. The team believes that InvestLM, being the first open-source financial domain LLM of its quality, will serve as a valuable tool for industry practitioners and set a precedent for leveraging generative AI in the financial sector.
To continue to explore the potential and enhance the capabilities of LLMs, the School is hosting an interactive discussion themed "The Impact and Opportunities of Generative AI for Finance and Investment" between professionals from the IT, banking, and regulatory sectors on Jan 17, 2024. Our distinguished panel of speakers will share their valuable insights on the latest advancements in GenAI technology, the potential solutions and challenges it presents for the industry. Learn more about the event at: https://bit.ly/3H34TTW