Why Are Consulting Firms Building LLMs

Financial consulting companies must definitely know the cost of using generative AI. That is why they are building their own customised LLMs for chatbots and other purposes to make sense of documents and not solely rely on expensive offerings by others. The latest joiner in the LLM development league is JPMorgan, a financial consulting firm which deals in investment banking, commercial banking and other financial services. The firm has introduced DocLLM, a generative language model designed for multimodal document understanding. It stands out as a lightweight extension to LLMs for analysing enterprise documents, spanning forms, invoices, reports, and contracts that carry intricate semantics at the intersection of textual and spatial modalities.  Generalised models are sub-par