Following the successful development of InvestLM – Hong Kong’s first open source large language model (LLM) for generative financial AI (GenAI) applications, the School of Business and Management at the University of Science and Technology of Hong Kong (HKUST Business School) has just launched the generative AI platform InvestLM, which will be gradually opened for free registration in the financial services sector. The platform is capable of handling finance-related GenAI tasks and generating human-like responses comparable to well-known general-purpose chatbots.
The InvestLM generative AI platform is designed to help the local financial services industry, particularly small and medium-sized financial enterprises, harness the potential of GenAI technology. Starting today, local financial institutions can visit the platform’s website (investlm.hkust.edu.hk)1 and register as free users. The initial phase will offer a limited number of user accounts, taking into account potential user demand and system capacity.2.
InvestLM has been optimized for the analysis and generation of financial texts. This enhancement aims to improve the efficiency of finance and investment professionals in tasks such as summarizing news and financial reports, conducting analysis of market sentiment and topics, responding to financial tabular questions, carrying out ESG (environmental, social and governance) analyses, etc.3.
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Professor TAM Kar-Yan, Vice President for Administration and Business and Chair Professor of Information Systems at HKUST, said: “AI applications can potentially improve the efficiency of the service sector financial. The new InvestLM generative AI platform reflects HKUST’s commitment to promoting the wider use of GenAI in the financial services sector, particularly among small and medium-sized enterprises, many of which have limited resources to undertake the development of related services. The platform will provide a training and testing venue for these companies to explore and evaluate. the potential of generative AI solutions.”
Professor Tam added: “Running on HKUST computing resources, the InvestLM generative AI platform builds on the government’s call for industry to make full use of commercially available AI models and infrastructure . By taking a phased approach to offering this free service, we hope to ensure optimal user experience and system performance. We will closely monitor user demand to determine how accessible we can make the service to the industry.
Professor YANG Yi, Associate Professor of Information Systems at HKUST and member of the InvestLM research project team, explained: “The responses of InvestLM were found to be comparable to those of state-of-the-art general purpose LLMs by financial experts. , such as hedge fund managers and analysts. We specifically tailored the model to GenAI finance and investment tasks, mitigating overalignment issues associated with general-purpose models and making InvestLM more aligned with economic rationality. users to improve the platform and explore additional use cases that promote the responsible development of AI in Hong Kong’s financial services sector.
The InvestLM research team appreciates the support and collaboration of various public and private sector organizations in launching this platform within the financial services industry. Among the various collaborations, engagement sessions will be co-organized with the Hong Kong Monetary Authority to familiarize the banking sector with the InvestLM generative AI platform.
Remarks :
1. As the platform relies on limited computing resources, its response speed depends on various factors, including the number of concurrent users and network traffic. As an emerging and evolving technology, the reliability and accuracy of GenAI cannot always be guaranteed, and it is possible that it will generate unfounded responses. Therefore, Users are reminded to verify facts and exercise judgment when using the Platform.
2. If the number of registrations exceeds the number of user accounts available during this initial phase, the InvestLM team will apply criteria to select successful registrations to ensure that a wide range of financial institutions can try this online service.
3. The HKUST Business School research team initially developed InvestLM in 2023 by adapting the general-purpose open source LLM known as LLaMA1. The team has since updated the model by adapting it from LLaMA3.1, a general-purpose open source LLM, with a diverse and high-quality set of generative AI tasks related to finance and technology. ‘investment. InvestLM Generative AI Platform is powered by this updated version of InvestLM, which has approximately 70 billion parameters.
About Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university committed to innovative education, research excellence and impactful knowledge transfer. Our holistic and interdisciplinary educational approach is recognized worldwide. HKUST ranked 3rd in the Times Higher Education 2024 Young Universities Rankings, 19th globally and No. 1 in Hong Kong in the Times Higher Education Impact Rankings. Twelve of HKUST’s subjects were ranked among the top 50 in the world in the QS World University Rankings by Subject 2024. Among these, “Data Science and Artificial Intelligence” ranked first in Hong Kong and 10th in the world. Our graduates are highly competitive and consistently rank among the top 30 most sought-after employees in the world. Our research and entrepreneurship efforts are also innovative and impactful. More than 80% of our work was rated “internationally excellent” or “world leading” in the Hong Kong University Grants Committee’s latest 2020 Research Assessment Exercise. As of October 2024, HKUST members have founded 1,800 active start-ups, including 10 Unicorns and 14 exits (IPO or M&A).
About HKUST Business School
HKUST Business School is young, innovative and committed to advancing global business knowledge. The School has established an international reputation for its world-class educational programs and research performance, and has received numerous global rankings. For more details about the school, please visit https://bm.hkust.edu.hk.
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