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ÖBA 5, Mai 2024, Seite 325

AI driven Large Language Models LLMs (ChatGPT, Copilot and Gemini) in finance – opportunities and challenges

Jörg Orgeldinger

Every few decades, something new is invented that fundamentally alters the world. Raising the standard of living requires innovations like the internet and airplanes. What will be the next major turning point in history? These are Large Language Models LLMs, and they are evaluated here. It was made by the artificial intelligence research firm Open AI. LLM is a natural language processing (NLP) model that refines GPT-2, an OpenAI transformerbased language model, on the GPT-3 group of large language patterns through supervised and reinforcement learning techniques. This is a method of learning transfer. The use of GPT-4 in finance has evolved significantly in the last few years due to the growth of data, storage, and computing capacity. Because these models can produce and understand language similar to that of humans, they are useful for a range of tasks. Artificial intelligence has advanced significantly in recent years thanks to the development of new technologies and a broad range of applications. The most important innovations are discussed, along with how they are being used to improve finance and banking. This article explores how finance can be enhanced through LLMs using Ope...

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