Shapley values explain financial language models, aligning with domain knowledge.
problem Lack of explainability in financial applications of large language models.
method Shapley value analysis for financial textual data.
result Shapley values provide consistent explanations with financial reasoning.
InvestLM is a financial domain LLM tuned on LLaMA-65B for investment advice.
problem Improving financial text understanding and advice generation for investment.
method Curated financial instruction dataset, LLaMA-65B, less-is-more-for-alignment approach.
result InvestLM provides comparable responses to state-of-the-art commercial models.
FinCast is a foundation model for financial time-series forecasting that outperforms existing methods.
problem Challenges in financial time-series forecasting due to temporal non-stationarity, multi-domain diversity, and varying temporal resolutions.
method FinCast is a foundation model specifically designed for financial time-series forecasting, trained on large-scale financial datasets.
result FinCast exhibits robust zero-shot performance, effectively capturing diverse patterns without domain-specific fine-tuning.
In this paper we develop a novel neural network model for predicting implied volatility surface. Prior financial domain knowledge is taken into account. A new activation function that incorporates volatility smile is proposed, which is used for the hidden nodes that process the underlying asset price. In addition, fina…
Study constructs a Japanese financial LLM benchmark.
problem Need for domain-specific benchmarks for LLMs.
method Constructed a benchmark with multiple Japanese and financial domain tasks.
result GPT-4 outperforms other models in the benchmark.
System detects financial misinformation and generates clear explanations.
problem Identifying and explaining fraudulent financial content.
method Combined large language models, pre-processing, and sequential learning.
result Achieved F1-score of 0.8283 for classification and ROUGE-1 of 0.7253 for explanations.
IITK wins FinSim 2020 task on financial hypernym detection.
problem Classifying financial terms into hypernym concepts in an external ontology.
method Used context-dependent and context-independent word embeddings (Word2vec and BERT) for classification.
result Ranked 1st based on mean rank and accuracy metrics.
Study introduces KorFinMTEB for Korean financial texts, revealing model limitations.
problem Limited evaluation benchmarks for low-resource domains, especially Korean.
method Developed KorFinMTEB, a tailored benchmark for Korean financial texts.
result Models perform better on translated benchmarks than on domain-specific ones.
RAG-IT automates financial analysis using LLMs and specialized datasets.
problem Manual financial analysis is time-consuming and requires expertise.
method Retrieval-Augmented Instruction Tuning (RAG-IT) fine-tunes an LLM for financial tasks.
result RAG-IT improves financial report generation performance compared to commercial systems.
LLM Pro Finance Suite enhances financial NLP with instruction-tuned models.
problem Limited NLP capabilities for financial tasks in generalist models.
method Instruction-tuned large language models fine-tuned on financial data.
result Consistent improvement over state-of-the-art baselines in finance tasks.
Survey of financial LLMs in finance.
problem Limited research on Financial LLMs (FinLLMs).
method Chronological overview of PLMs, comparison of techniques, performance evaluations, and advanced tasks.
result Compilation of accessible datasets and benchmarks for AI research in finance.
FinEAS models financial sentiment using BERT embeddings.
problem Financial sentiment analysis in markets.
method Supervised fine-tuning of BERT embeddings for financial texts.
result FinEAS outperforms vanilla BERT, LSTM, and FinBERT.
Unified LLM-agent with RL improves financial trading performance.
problem LLMs struggle with complex, multi-step financial tasks.
method Fusion of LLMs and gradient-based RL for policy optimization.
result Improves LLM performance in trading and other financial tasks.
Investment planning requires knowledge of the financial landscape on a large scale, both in terms of geo-spatial and industry sector distribution. There is plenty of data available, but it is scattered across heterogeneous sources (newspapers, open data, etc.), which makes it difficult for financial analysts to underst…
FinCARE combines financial data and AI reasoning to improve causal analysis of financial performance.
problem Correlation-based analysis fails to capture true causal relationships in financial performance.
method Hybrid framework integrating causal discovery algorithms with financial domain knowledge from SEC filings and LLM reasoning.
result KG+LLM-enhanced methods improve causal discovery across PC, GES, and NOTEARS by 36-366%.
Defines explanations for classifier outcomes using causal concepts.
problem Understanding classifier outcomes in a causal context.
method Proposes a new definition of explanation based on causality, compares it with existing notions, and evaluates it experimentally.
result Experimental evaluation shows the new definition's effectiveness on financial datasets.
German FinBERT improves financial text analysis performance.
problem Capturing domain-specific nuances in financial text.
method German FinBERT is a pre-trained German language model trained on a large corpus of financial data.
result German FinBERT outperforms standard models on finance-specific tasks.
New framework assesses LLM security risks in BFSI.
problem Lack of domain-specific security evaluation for LLMs in BFSI.
method Risk-aware evaluation framework combining taxonomy, automated red-teaming, and ensemble judging.
result Higher decoding stochasticity and adaptive interaction lead to more severe disclosures.
EDINET-Bench evaluates LLMs on complex financial tasks using Japanese financial statements.
problem Challenges in evaluating LLMs on financial tasks due to specialized expertise and scarce benchmarks.
method Developed EDINET-Bench, an open-source Japanese financial benchmark for LLMs on tasks like fraud detection and earnings forecasting.
result State-of-the-art LLMs perform only marginally better than logistic regression in financial tasks, highlighting the need for more realistic benchmarks.
Study shows group structures are crucial for financial model explanations.
problem Inconsistent explanations from existing explainable machine learning methods.
method Examined group structures in financial datasets and developed group versions of Shapley values.
result Group versions of Shapley values provide consistent explanations.
TIMeSynC combines financial service interactions for intent prediction.
problem Aligning and learning from multi-domain, multi-resolution sequences for accurate intent prediction.
method An encoder-decoder transformer model addressing sequence alignment, temporal dynamics, and dynamic/static sequence combination.
result Significant improvement in intent prediction over existing methods.
FINCH dataset enables financial Text-to-SQL tasks, improving model evaluation.
problem Lack of a large-scale financial dataset for Text-to-SQL tasks.
method Curated financial dataset (FINCH), benchmarking reasoning and language models.
result Proposed FINCH Score for more accurate financial model evaluation.
GraphShield uses dynamic graph learning to detect and visualize financial risks.
problem Detecting and mitigating risks in financial networks.
method Enhanced Cross-Domain Information Learning, Advanced Risk Recognition, Risk Propagation Visualization.
result GraphShield effectively identifies and visualizes hidden financial risks.
BloombergGPT is a large language model trained on financial data, outperforming existing models on financial tasks.
problem Lack of specialized large language models for finance.
method Trained on a 363 billion token dataset augmented with 345 billion tokens from general datasets, using a 50 billion parameter model.
result BloombergGPT outperforms existing models on financial tasks without sacrificing performance on general LLM benchmarks.
FinTSBridge evaluates financial time series models for asset pricing.
problem Lack of effective evaluation methods for financial time series models.
method Developed FinTSBridge suite with new metrics and tasks.
result Showcased new metrics for financial time series models.
GRTR framework uses graph regularization to improve financial forecasting.
problem High computational costs and economic domain knowledge loss in tensor models.
method Graph-Regularized Tensor Regression (GRTR) framework incorporating economic domain knowledge.
result Improved performance in multi-way financial forecasting with reduced computational costs.
LLMs perform well in financial sentiment analysis without fine-tuning.
problem Challenges in financial terminology, emotions, and ambiguous expressions.
method In-context learning methods for financial document-sentiment pairs.
result LLMs can generalize in-context demonstrations to new financial documents.
Study builds a Japanese financial-specific LLM through continual pre-training.
problem Lack of domain-specific Japanese financial LLMs.
method Continual pre-training on Japanese financial-focused datasets using a base Japanese LLM.
result Tuned model outperforms original model on Japanese financial benchmarks.
TSFMs improve financial forecasting from diverse datasets.
problem Challenges in forecasting financial time series due to noisy, non-stationary, and heterogeneous data.
method Empirical study of TSFMs in global financial markets, evaluating zero-shot inference, fine-tuning, and pre-training from scratch.
result Pre-trained TSFMs on financial data achieve substantial forecasting and economic improvements, highlighting the value of domain-specific adaptation.
FinMaster benchmarks LLMs in financial tasks, revealing gaps in reasoning.
problem Challenges in financial tasks, including labor-intensive processes and low error tolerance.
method Developed a comprehensive financial benchmark (FinMaster) with three modules: FinSim, FinSuite, and FinEval.
result LLMs struggle with complex financial reasoning, showing significant accuracy drops.
Delphyne improves financial time series models with pre-trained language models.
problem Lack of financial data and negative transfer effect in existing time-series pre-trained models.
method Delphyne is a pre-trained model for financial time series that addresses the lack of financial data and negative transfer effect.
result Delphyne achieves competitive performance and superior performances on various financial tasks.
MoA framework improves financial LLM responses at low cost.
problem Complexity and cost in LLM research for financial domains.
method Mixture of Agents (MoA) framework using customized small models.
result MoA produces higher quality responses at lower costs.
Financial markets are notoriously complex environments, presenting vast amounts of noisy, yet potentially informative data. We consider the problem of forecasting financial time series from a wide range of information sources using online Gaussian Processes with Automatic Relevance Determination (ARD) kernels. We measu…
The paper examines the reliability of limit order book representations in the face of data perturbation.
problem The reliability of limit order book representations under data perturbation.
method Experimental analysis of existing representations and guidelines for future research.
result Existing representations of limit order book data are vulnerable to data perturbation.
FLBench automates federated learning benchmarking.
problem Manual dataset partitioning fails to simulate real-world isolated data islands.
method Develops a federated learning benchmark suite with three domains.
result Automates evaluation of federated learning systems and algorithms.
Much of modern practice in financial forecasting relies on technicals, an umbrella term for several heuristics applying visual pattern recognition to price charts. Despite its ubiquity in financial media, the reliability of its signals remains a contentious and highly subjective form of 'domain knowledge'. We investiga…
Reinforcement learning improves portfolio optimization, but state normalization affects performance.
problem State normalization affects reinforcement learning's performance in portfolio optimization.
method Evaluated two normalization methods across three markets.
result State normalization degrades reinforcement learning's performance in portfolio optimization.
SimStock learns stock similarities for better investment management.
problem Challenges in identifying similar stocks due to non-stationary financial markets.
method Temporal self-supervised learning framework combining SSL and temporal domain generalization.
result SimStock outperforms existing methods in finding similar stocks.
HybridRAG combines KGs and vector retrieval for financial document Q&A.
problem Challenges in extracting and interpreting financial text data.
method Integrates Knowledge Graphs and Vector Retrieval Augmented Generation.
result HybridRAG outperforms traditional methods in Q&A systems for financial documents.
Mining financial text documents and understanding the sentiments of individual investors, institutions and markets is an important and challenging problem in the literature. Current approaches to mine sentiments from financial texts largely rely on domain specific dictionaries. However, dictionary based methods often f…
PandaAI: A practical agent for neuro-symbolic data analysis and decision-making in finance
problem Sequential decision-making in finance
method Leveraging LLMs for market regime modeling and constrained alpha generation
result PandaAI achieves higher Rank IC and lower maximum drawdown
Foundation models improve volatility forecasting in finance.
problem Improving volatility forecasting in financial markets.
method Evaluation of TimesFM model, incremental fine-tuning, comparison with econometric benchmarks.
result Incremental fine-tuning improves forecast accuracy and outperforms traditional models.
This paper explores good practices for AI explainability in finance.
problem Complex financial models lack transparency and interpretability.
method Exploring good practices for deploying explainability in AI-based financial systems.
result Developing effective XAI tools for the financial industry.
Study explores financial market linkages between Japan and US markets.
problem Inconsistency in empirical studies regarding financial market causal linkages.
method Causal discovery methods including VAR-LiNGAM and LPCMCI with domain knowledge.
result VAR-LiNGAM reveals causal influences among financial markets, while LPCMCI identifies potential latent confounders.
Novel financial time-series data representation improves industry sector classification.
problem Classifying industries using historical stock returns time-series data.
method Proposed a novel representation based on stock returns embeddings for time-series data, overcoming representational challenges of conventional approaches.
result Substantial performance improvements over baselines using conventional representations.
Quantum computing offers new solutions for financial optimization, pricing, risk, and security.
problem Core financial bottlenecks in combinatorial search, expectation estimation, and rare-event analysis.
method Identify bottlenecks, specify quantum primitives, compare with classical benchmarks, assess under constraints.
result Strongest near-term case for quantum finance in hybrid workflows, constrained search, and amplitude-estimation.
A new explainable CBR system predicts financial risks with interpretability and good performance.
problem Predicting financial risks with interpretability and good performance.
method A novel explainable case-based reasoning (CBR) approach.
result The CBR system provides a good prediction performance and interpretability.
Unified framework for complex financial networks using lattice theory.
problem Complex financial networks with multiple currencies and dependencies.
method Recast classical financial clearing model into lattice liability networks.
result Lattice-valued clearing sections form a complete lattice, enabling tractable analysis.