Quantifi, a provider of risk, analytics and trading solutions, and Lumerafields, a machine learning, artificial intelligence research and development firm today published a joint whitepaper Generative AI in Finance: Market Insight Extraction. The paper illustrates how the power of Large Language Models (LLMs) can be used via Retrieval Augmented Generation systems (RAGs) to refine and systematise market insight extraction by gathering relevant information from datastores at inference time to enrich prompts.
“Effective implementation of these technologies necessitates a fusion of technical expertise and domain knowledge. We look forward to collaborating with our partners in this dynamic and rapidly advancing field.”
Ansar Ali, Machine Learning & Quantitative Strategies, Lumerafields
Generative AI (GenAI) is set to transform many industries, with financial institutions being key beneficiaries. This transformative technology is changing how firms operate, including how they manage risks and stay compliant with regulations. GenAI has several use cases in finance. It can process vast amounts of financial data to generate insights, improving the accuracy and efficiency of risk modelling. Another application is in algorithmic trading, where it aids in optimising trading strategies by rapidly analysing market conditions and executing trades at optimal times. Automating these complex processes not only reduces human error, but also increases the speed and scalability of operations.
“LLMs’ advanced reasoning abilities present exciting opportunities for both researchers and industry professionals. Analysing extensive unstructured financial data (such as reports, news headlines, transactions, etc.) with these models enhances our capacity to uncover subtle semantic connections and insights. Effective implementation of these technologies necessitates a fusion of technical expertise and domain knowledge. We look forward to collaborating with our partners in this dynamic and rapidly advancing field,” comments Ansar Ali, Machine Learning & Quantitative Strategies, Lumerafields
Quantifi’s philosophy is to leverage standard, robust technologies and benefit from the significant innovation occurring in technology. Unlike systems saddled with years of legacy code, Quantifi is designed from the ground up using the latest, most advanced technology and design patterns to ensure optimal performance. This approach gives clients significant advantages in performance, scalability, usability, and ease of support. It also has a major impact on Quantifi’s ability to rapidly turn around enhancements and new features.
“Technology has always played a vital role in finance. Frontier technologies like APIs, data science, AI, and machine learning are transforming how firms operate. As firms navigate volatile markets, adopting new technologies to counter competitors, meet customer expectations, and cut costs is crucial. Quantifi leverages cutting-edge technologies to ensure optimal performance, drive efficiencies and deliver a faster time to value for our clients,” comments Alexei Tchernitser, Director, Product Management, Quantifi
