The Korea Exchange announced on the 20th that it held the award ceremony for the 3rd KRX Financial Language Model Competition.
This year's competition, held over two months since last October, was organized with the purpose of establishing a foundation for data business promotion based on advanced technologies such as AI (artificial intelligence) and securing future growth engines for the Exchange following the launch of the Future Business Division.
The Exchange evaluated participants' submissions of 'financial-specialized LLMs (large language models) based on open-source language models and public data' by comprehensively assessing ▲KRX-Bench scores (standard data for evaluating language model performance) ▲on-site presentation scores ▲and training plans.
A total of 224 teams participated in the preliminary round, with 30 teams advancing to the finals. Five teams that built high-performance financial language models using effective data learning methodologies were selected as the final awardees.
The winning teams received the Chairman's Commendation from the Exchange along with prize money totaling 60 million KRW: 30 million KRW for one grand prize team, 10 million KRW each for two excellence award teams, and 5 million KRW each for two encouragement award teams.
The Exchange plans to continuously hold data competitions to develop them into representative data contests for the Korean capital market.
Jung Eun-bo, Chairman of the Exchange, stated, "Recently, there has been increased demand for AI technology as a tool to analyze vast amounts of data in the financial industry," adding, "In the long term, the Exchange plans to transition its data provision environment to the cloud to enable customers to directly utilize AI for analysis."
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