FinGPT: Open-Source Financial Large Language Models

Abstract

Large language models (LLMs) have shown the potential of revolutionizing natural language processing in diverse domains, sparking great interest in finance. However, the finance domain presents unique challenges, including high temporal sensitivity, constant dynamism, and a low signal-to-noise ratio (SNR). While proprietary models like BloombergGPT have taken advantage of their unique data accumulation, such privileged access calls for an open-source alternative to democratize internet-scale financial data. In this paper, we present an open-source large language model, FinGPT, for the finance sector. Unlike proprietary models, FinGPT takes a data-centric approach, providing researchers and practitioners with accessible and transparent resources to customize their financial LLMs (FinLLMs). We highlight the importance of an automatic data curation pipeline and the lightweight low-rank adaptation technique in building FinGPT. Furthermore, we will showcase potential applications as stepping stones for users, such as robo-advising and sentiment analysis. Through collaborative efforts within the open-source AI4Finance community, FinGPT aims to stimulate innovation, democratize FinLLMs, and unlock new opportunities in open finance. Two associated code repos are \url{https://github.com/AI4Finance-Foundation/FinGPT} and \url{https://github.com/AI4Finance-Foundation/FinNLP}