Goldman Sachs and Nomura are among the companies using Meta’s Llama open source artificial intelligence models.
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In the 18 months since their launch, the largely free, open-source Llama models have been downloaded nearly 350 million times and adopted by several major companies, including in the financial services sector.
In a progress report, Meta says Goldman Sachs’ GS AI platform enables the bank’s engineers to use Llama models for various use cases, including extracting information from documents.
Meanwhile, Nomura uses Llama on AWS to achieve faster innovation, transparency, bias guidance, and performance in text summarization, code generation, log analysis, and document processing.
Meta has poured billions of dollars into AI, but its open source model takes a different approach than competitors like OpenAI.
In a July letter, Mark Zuckerberg argued that open-source AI is good for Meta because it prevents the company from being locked into a competitor’s closed ecosystem.
Additionally, he wrote, “The bottom line is that open source AI represents the world’s best opportunity to leverage this technology to create the greatest economic opportunity and security for all.”