Goldman Sachs and Nomura are leveraging Meta’s open-source Llama artificial intelligence models as part of their technological strategies.
Since its launch 18 months ago, the largely free Llama models have been downloaded nearly 350 million times and adopted by numerous prominent firms, particularly in the financial services sector.
In a recent update, Meta highlighted that Goldman Sachs’ GS AI Platform enables its engineers to utilize Llama models for various applications, such as extracting information from documents. Similarly, Nomura has implemented Llama on AWS to enhance its capabilities in text summarization, code generation, log analysis, and document processing, all while promoting innovation, transparency, and performance.
Meta has invested billions into AI development, choosing a distinct approach compared to competitors like OpenAI by focusing on an open-source model. In a letter released in July, Mark Zuckerberg emphasized the benefits of open-source AI for Meta, stating that it allows the company to avoid being confined within a competitor’s closed ecosystem. He remarked, "The bottom line is that open source AI represents the world’s best shot at harnessing this technology to create the greatest economic opportunity and security for everyone."
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