Large Language Models in Finance: A Survey

Yinheng Li, Shaofei Wang, Han Ding, Hang Chen
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Abstract

Recent advances in large language models (LLMs) have opened new possibilities for artificial intelligence applications in finance. In this paper, we provide a practical survey focused on two key aspects of utilizing LLMs for financial tasks: existing solutions and guidance for adoption. First, we review current approaches employing LLMs in finance, including leveraging pretrained models via zero-shot or few-shot learning, fine-tuning on domain-specific data, and training custom LLMs from scratch. We summarize key models and evaluate their performance improvements on financial natural language processing tasks. Second, we propose a decision framework to guide financial professionals in selecting the appropriate LLM solution based on their use case constraints around data, compute, and performance needs. The framework provides a pathway from lightweight experimentation to heavy investment in customized LLMs. Lastly, we discuss limitations and challenges around leveraging LLMs in financial applications. Overall, this survey aims to synthesize the state-of-the-art and provide a roadmap for responsibly applying LLMs to advance financial AI.
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金融中的大型语言模型:综述
大型语言模型(llm)的最新进展为人工智能在金融领域的应用开辟了新的可能性。在本文中,我们提供了一个实践性的调查,集中在利用法学硕士财务任务的两个关键方面:现有的解决方案和采用指导。首先,我们回顾了目前在金融领域使用法学硕士的方法,包括通过零次或少次学习来利用预训练模型,微调特定领域的数据,以及从头开始培训定制法学硕士。我们总结了关键模型,并评估了它们在金融自然语言处理任务上的性能改进。其次,我们提出了一个决策框架,以指导金融专业人士根据他们在数据、计算和性能需求方面的用例约束选择适当的法学硕士解决方案。该框架提供了一条从轻量级实验到大量投资定制llm的途径。最后,我们讨论了在金融应用中利用法学硕士的限制和挑战。总体而言,本调查旨在综合最新技术,并为负责任地将法学硕士应用于先进的金融人工智能提供路线图。
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