Recent quotes:

Financial Statement Analysis with Large Language Models by Alex Kim, Maximilian Muhn, Valeri V. Nikolaev :: SSRN

Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes. The LLM exhibits a relative advantage over human analysts in situations when the analysts tend to struggle. Furthermore, we find that the prediction accuracy of the LLM is on par with the performance of a narrowly trained state-of-the-art ML model.
#prediction #LLM #stocks - papers.ssrn.com

The Imperial Origins of Big Data - Yale University Press

Over the twelfth, thirteenth, and fourteenth centuries, paper emerged as the fundamental substrate which politicians, merchants, and scholars relied on to record and circulate information in governance, commerce, and learning. At the same time, governing institutions sought to preserve and control the spread of written information through the creation of archives: repositories where they collected, organized, and stored documents. The expansion of European polities overseas from the late fifteenth century onward saw governments massively scale up their use of paper—and confront the challenge of controlling its dissemination across thousands of miles of ocean and land. These pressures were felt particularly acutely in what eventually became the largest empire in world history, the British empire. As people from the British isles from the early seventeenth century fought, traded, and settled their way to power in the Atlantic world and South Asia, administrators faced the problem of how to govern both their emigrating subjects and the non-British peoples with whom they interacted. This meant collecting information about their behavior through the technology of paper. Just as we struggle to organize, search, and control our email boxes, text messages, and app notifications, so too did these early moderns confront the attendant challenges of developing practices of collection and storage to manage the resulting information overload. And despite the best efforts of states and companies to control information, it constantly escaped their grasp, falling into the hands of their opponents and rivals who deployed it to challenge and contest ruling powers.
#nationalism #McLuhan #LLM - yalebooks.yale.edu

Opinion | Beyond the ‘Matrix’ Theory of the Human Mind - The New York Times

One is that these systems will do more to distract and entertain than to focus. Right now, the large language models tend to hallucinate information: Ask them to answer a complex question, and you will receive a convincing, erudite response in which key facts and citations are often made up. I suspect this will slow their widespread use in important industries much more than is being admitted, akin to the way driverless cars have been tough to roll out because they need to be perfectly reliable rather than just pretty good.
#AI #pullquote #LLM - nytimes.com

ChatGPT is bullshit | Ethics and Information Technology

In this paper, we argue against the view that when ChatGPT and the like produce false claims they are lying or even hallucinating, and in favour of the position that the activity they are engaged in is bullshitting, in the Frankfurtian sense (Frankfurt, 2002, 2005). Because these programs cannot themselves be concerned with truth, and because they are designed to produce text that looks truth-apt without any actual concern for truth, it seems appropriate to call their outputs bullshit.
#AI #LLM #ChatGPT - link.springer.com