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Goldman, Nomura tap Meta Llama AI models

Goldman Sachs and Nomura are among the companies using Meta's Llama open source artificial intelligence models.

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Goldman, Nomura tap Meta Llama AI models

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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

In the 18 months since launch, the mostly free open source Llama models have seen nearly 350 million downloads and been taken up several major firms, including in financial services.

In a progress report, Meta says that Goldman Sachs' GS AI Platform allows the bank's engineers to use Llama models for various use cases, including information extraction from documents.

Meanwhile, Nomura uses Llama on AWS to achieve faster innovation, transparency, bias guardrails, and performance across text summarisation, code generation, log analysis, and document processing.

Meta has ploughed billions of dollars into AI but is taking a different approach to rivals such as OpenAI with its open source model.

In a July letter, Mark Zuckerberg argued that open source AI is good for Meta because it prevents the firm getting locked into a competitor's closed ecosystem.

In addition, he, wrote: "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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