San Francisco-based AI company Writer launched two specialized large language models (LLMs) for healthcare and financial services industries. The models, Palmyra- Med-70b and Palmyra-Fin-70b, are now available as open-source offerings on major AI platforms.
Writer claims these models significantly outperform larger, generalized AI models like GPT-4 in domain-specific tasks. This is due to the expertise of healthcare and finance specialists involved in building the models.
In the healthcare sector, Palmyra-Med-70b has achieved an average accuracy of 85.9% across all medical benchmarks in zero-shot attempts. In the financial sector, Palmyra-Fin-70b is the first AI model capable of passing the CFA Level III exam.
Writer’s open-source strategy allows for transparent and safe AI adoption in regulated industries. The company plans to develop more domain-specific models in the future, including those in the creative domain and with multimodal capabilities.
Writer’s focus on specialized AI models for regulated industries could give it an edge in the competitive enterprise AI market. However, the company will face competition from established tech giants and other AI startups targeting similar markets.
Source: https://venturebeat.com/ai/writers-new-ai-models-are-scary-good-at-healthcare-and-finance-tasks/