Quantum-inspired Reinforcement Learning for Synthesizable Drug Design

Synthesizable molecular design (also known as synthesizable molecular optimization) is a fundamental problem in drug discovery, and involves designing novel molecular structures to improve their properties according to drug-relevant oracle functions (i.e., objective) while ensuring synthetic feasibility. However, existing methods are mostly based on random search. To address this issue, in this paper, we introduce a novel approach using the reinforcement learning method with quantum-inspired simulated annealing policy neural network to navigate the vast discrete space of chemical structures intelligently. Specifically, we employ a deterministic REINFORCE algorithm using policy neural networks to output transitional probability to guide state transitions and local search using genetic algorithm to refine solutions to a local optimum within each iteration. Our methods are evaluated with the Practical Molecular Optimization (PMO) benchmark framework with a 10K query budget. We further showcase the competitive performance of our method by comparing it against the state-of-the-art genetic algorithms-based method.

Open-FinLLMs: Open Multimodal Large Language Models for Financial Applications

Large language models (LLMs) have advanced financial applications, yet they often lack sufficient financial knowledge and struggle with tasks involving multi-modal inputs like tables and time series data. To address these limitations, we introduce \textit{Open-FinLLMs}, a series of Financial LLMs. We begin with FinLLaMA, pre-trained on a 52 billion token financial corpus, incorporating text, tables, and time-series data to embed comprehensive financial knowledge. FinLLaMA is then instruction fine-tuned with 573K financial instructions, resulting in FinLLaMA-instruct, which enhances task performance. Finally, we present FinLLaVA, a multimodal LLM trained with 1.43M image-text instructions to handle complex financial data types. Extensive evaluations demonstrate FinLLaMA's superior performance over LLaMA3-8B, LLaMA3.1-8B, and BloombergGPT in both zero-shot and few-shot settings across 19 and 4 datasets, respectively. FinLLaMA-instruct outperforms GPT-4 and other Financial LLMs on 15 datasets. FinLLaVA excels in understanding tables and charts across 4 multimodal tasks. Additionally, FinLLaMA achieves impressive Sharpe Ratios in trading simulations, highlighting its robust financial application capabilities. We will continually maintain and improve our models and benchmarks to support ongoing innovation in academia and industry.

FinGPT-HPC: Efficient Pretraining and Finetuning Large Language Models for Financial Applications with High-Performance Computing

Large language models (LLMs) are computationally intensive. The computation workload and the memory footprint grow quadratically with the dimension (layer width). Most of LLMs' parameters come from the linear layers of the transformer structure and are highly redundant. These linear layers contribute more than 80% of the computation workload and 99% of the model size. To pretrain and finetune LLMs efficiently, there are three major challenges to address: 1) reducing redundancy of the linear layers; 2) reducing GPU memory footprint; 3) improving GPU utilization when using distributed training. Prior methods, such as LoRA and QLoRA, utilized low-rank matrices and quantization to reduce the number of trainable parameters and model size, respectively. However, the resulting model still consumes a large amount of GPU memory. In this paper, we present high-performance GPU-based methods that exploit low-rank structures to pretrain and finetune LLMs for financial applications. We replace one conventional linear layer of the transformer structure with two narrower linear layers, which allows us to reduce the number of parameters by several orders of magnitude. By quantizing the parameters into low precision (8-bit and 4-bit), the memory consumption of the resulting model is further reduced. Compared with existing LLMs, our methods achieve a speedup of 1.3X and a model compression ratio of 2.64X for pretaining without accuracy drop. For finetuning, our methods achieve an average accuracy increase of 6.3% and 24.0% in general tasks and financial tasks, respectively, and GPU memory consumption ratio of 6.3X. The sizes of our models are smaller than 0.59 GB, allowing inference on a smartphone.

The FinBen: An Holistic Financial Benchmark for Large Language Models

LLMs have transformed NLP and shown promise in various fields, yet their potential in finance is underexplored due to a lack of thorough evaluations and the complexity of financial tasks. This along with the rapid development of LLMs, highlights the urgent need for a systematic financial evaluation benchmark for LLMs. In this paper, we introduce FinBen, the first comprehensive open-sourced evaluation benchmark, specifically designed to thoroughly assess the capabilities of LLMs in the financial domain. FinBen encompasses 35 datasets across 23 financial tasks, organized into three spectrums of difficulty inspired by the Cattell-Horn-Carroll theory, to evaluate LLMs' cognitive abilities in inductive reasoning, associative memory, quantitative reasoning, crystallized intelligence, and more. Our evaluation of 15 representative LLMs, including GPT-4, ChatGPT, and the latest Gemini, reveals insights into their strengths and limitations within the financial domain. The findings indicate that GPT-4 leads in quantification, extraction, numerical reasoning, and stock trading, while Gemini shines in generation and forecasting; however, both struggle with complex extraction and forecasting, showing a clear need for targeted enhancements. Instruction tuning boosts simple task performance but falls short in improving complex reasoning and forecasting abilities. FinBen seeks to continuously evaluate LLMs in finance, fostering AI development with regular updates of tasks and models.

Dólares or Dollars? Unraveling the Bilingual Prowess of Financial LLMs Between Spanish and English

Despite Spanish's pivotal role in the global finance industry, a pronounced gap exists in Spanish financial natural language processing (NLP) and application studies compared to English, especially in the era of large language models (LLMs). To bridge this gap, we unveil Tois\'on de Oro, the first bilingual framework that establishes instruction datasets, finetuned LLMs, and evaluation benchmark for financial LLMs in Spanish joint with English. We construct a rigorously curated bilingual instruction dataset including over 144K Spanish and English samples from 15 datasets covering 7 tasks. Harnessing this, we introduce FinMA-ES, an LLM designed for bilingual financial applications. We evaluate our model and existing LLMs using FLARE-ES, the first comprehensive bilingual evaluation benchmark with 21 datasets covering 9 tasks. The FLARE-ES benchmark results reveal a significant multilingual performance gap and bias in existing LLMs. FinMA-ES models surpass SOTA LLMs such as GPT-4 in Spanish financial tasks, due to strategic instruction tuning and leveraging data from diverse linguistic resources, highlighting the positive impact of cross-linguistic transfer. All our datasets, models, and benchmarks have been released.

Differentially Private Low-Rank Adaptation of Large Language Model Using Federated Learning

The surge in interest and application of large language models (LLMs) has sparked a drive to fine-tune these models to suit specific applications, such as finance and medical science. However, concerns regarding data privacy have emerged, especially when multiple stakeholders aim to collaboratively enhance LLMs using sensitive data. In this scenario, federated learning becomes a natural choice, allowing decentralized fine-tuning without exposing raw data to central servers. Motivated by this, we investigate how data privacy can be ensured in LLM fine-tuning through practical federated learning approaches, enabling secure contributions from multiple parties to enhance LLMs. Yet, challenges arise: 1) despite avoiding raw data exposure, there is a risk of inferring sensitive information from model outputs, and 2) federated learning for LLMs incurs notable communication overhead. To address these challenges, this article introduces DP-LoRA, a novel federated learning algorithm tailored for LLMs. DP-LoRA preserves data privacy by employing a Gaussian mechanism that adds noise in weight updates, maintaining individual data privacy while facilitating collaborative model training. Moreover, DP-LoRA optimizes communication efficiency via low-rank adaptation, minimizing the transmission of updated weights during distributed training. The experimental results across medical, financial, and general datasets using various LLMs demonstrate that DP-LoRA effectively ensures strict privacy constraints while minimizing communication overhead.

Deficiency of Large Language Models in Finance: An Empirical Examination of Hallucination

The hallucination issue is recognized as a fundamental deficiency of large language models (LLMs), especially when applied to fields such as finance, education, and law. Despite the growing concerns, there has been a lack of empirical investigation. In this paper, we provide an empirical examination of LLMs' hallucination behaviors in financial tasks. First, we empirically investigate LLM model's ability of explaining financial concepts and terminologies. Second, we assess LLM models' capacity of querying historical stock prices. Third, to alleviate the hallucination issue, we evaluate the efficacy of four practical methods, including few-shot learning, Decoding by Contrasting Layers (DoLa), the Retrieval Augmentation Generation (RAG) method and the prompt-based tool learning method for a function to generate a query command. Finally, our major finding is that off-the-shelf LLMs experience serious hallucination behaviors in financial tasks. Therefore, there is an urgent need to call for research efforts in mitigating LLMs' hallucination.

Enhancing Financial Sentiment Analysis via Retrieval Augmented Large Language Models

Financial sentiment analysis is critical for valuation and investment decision-making. Traditional NLP models, however, are limited by their parameter size and the scope of their training datasets, which hampers their generalization capabilities and effectiveness in this field. Recently, Large Language Models (LLMs) pre-trained on extensive corpora have demonstrated superior performance across various NLP tasks due to their commendable zero-shot abilities. Yet, directly applying LLMs to financial sentiment analysis presents challenges: The discrepancy between the pre-training objective of LLMs and predicting the sentiment label can compromise their predictive performance. Furthermore, the succinct nature of financial news, often devoid of sufficient context, can significantly diminish the reliability of LLMs' sentiment analysis. To address these challenges, we introduce a retrieval-augmented LLMs framework for financial sentiment analysis. This framework includes an instruction-tuned LLMs module, which ensures LLMs behave as predictors of sentiment labels, and a retrieval-augmentation module which retrieves additional context from reliable external sources. Benchmarked against traditional models and LLMs like ChatGPT and LLaMA, our approach achieves 15\% to 48\% performance gain in accuracy and F1 score.

FinGPT: Democratizing Internet-scale Data for Financial Large Language Models

Large language models (LLMs) have demonstrated remarkable proficiency in understanding and generating human-like texts, which may potentially revolutionize the finance industry. However, existing LLMs often fall short in the financial field, which is mainly attributed to the disparities between general text data and financial text data. Unfortunately, there is only a limited number of financial text datasets available (quite small size), and BloombergGPT, the first financial LLM (FinLLM), is close-sourced (only the training logs were released). In light of this, we aim to democratize Internet-scale financial data for LLMs, which is an open challenge due to diverse data sources, low signal-to-noise ratio, and high time-validity. To address the challenges, we introduce an open-sourced and data-centric framework, \textit{Financial Generative Pre-trained Transformer (FinGPT)}, that automates the collection and curation of real-time financial data from >34 diverse sources on the Internet, providing researchers and practitioners with accessible and transparent resources to develop their FinLLMs. Additionally, we propose a simple yet effective strategy for fine-tuning FinLLM using the inherent feedback from the market, dubbed Reinforcement Learning with Stock Prices (RLSP). We also adopt the Low-rank Adaptation (LoRA, QLoRA) method that enables users to customize their own FinLLMs from open-source general-purpose LLMs at a low cost. Finally, we showcase several FinGPT applications, including robo-advisor, sentiment analysis for algorithmic trading, and low-code development. FinGPT aims to democratize FinLLMs, stimulate innovation, and unlock new opportunities in open finance. The codes are available at https://github.com/AI4Finance-Foundation/FinGPT and https://github.com/AI4Finance-Foundation/FinNLP

Instruct-FinGPT: Financial Sentiment Analysis by Instruction Tuning of General-Purpose Large Language Models

Sentiment analysis is a vital tool for uncovering insights from financial articles, news, and social media, shaping our understanding of market movements. Despite the impressive capabilities of large language models (LLMs) in financial natural language processing (NLP), they still struggle with accurately interpreting numerical values and grasping financial context, limiting their effectiveness in predicting financial sentiment. In this paper, we introduce a simple yet effective instruction tuning approach to address these issues. By transforming a small portion of supervised financial sentiment analysis data into instruction data and fine-tuning a general-purpose LLM with this method, we achieve remarkable advancements in financial sentiment analysis. In the experiment, our approach outperforms state-of-the-art supervised sentiment analysis models, as well as widely used LLMs like ChatGPT and LLaMAs, particularly in scenarios where numerical understanding and contextual comprehension are vital.