Open-FinLLMs: Open Multimodal Large Language Models for Financial Applications
<|reference_start|>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.<|reference_end|>
@article{xie2024open-finllms:,
    title={Open-FinLLMs: Open Multimodal Large Language Models for Financial
  Applications},
    author={Qianqian Xie and Dong Li and Mengxi Xiao and Zihao Jiang and Ruoyu
  Xiang and Xiao Zhang and Zhengyu Chen and Yueru He and Weiguang Han and Yuzhe
  Yang and Shunian Chen and Yifei Zhang and Lihang Shen and Daniel Kim and
  Zhiwei Liu and Zheheng Luo and Yangyang Yu and Yupeng Cao and Zhiyang Deng
  and Zhiyuan Yao and Haohang Li and Duanyu Feng and Yongfu Dai and VijayaSai
  Somasundaram and Peng Lu and Yilun Zhao and Yitao Long and Guojun Xiong and
  Kaleb Smith and Honghai Yu and Yanzhao Lai and Min Peng and Jianyun Nie and
  Jordan W. Suchow and Xiao-Yang Liu and Benyou Wang and Alejandro Lopez-Lira
  and Jimin Huang and Sophia Ananiadou},
    journal={arXiv preprint arXiv:2408.11878},
    year={2024},
    archivePrefix={arXiv},
    eprint={2408.11878},
    primaryClass={cs.CL cs.CE q-fin.CP}
}