Tech Disruptors Balyasny’s Use of Generative AI in Investing
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Apr 23, 2024 
Charlie Flanagan, Head of applied AI at Balyasny Asset Management, discusses the impact and potential of generative AI for investing-related workflows with Bloomberg Intelligence senior analyst, Mandeep Singh. They explore productivity enhancement, large-language-model hallucinations, GPU supply constraints, and automation in money management.
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Economist Automates Analysis
- BAM's chief economist automated a monthly two-day analysis.
- It now takes 30 minutes using LLMs, saving significant time.
LLMs as Reasoning Engines
- LLMs excel as reasoning engines, not databases.
- Treat them as such to avoid hallucinations and leverage their true power.
Use Retrieval Augmented Generation
- Connect LLMs to internal knowledge bases using retrieval augmented generation (RAG).
- Prioritize improving retrieval quality for better, hallucination-free answers.