'Finance Wizard' at the FinLLM Challenge Task: Financial Text Summarization

Abstract: This paper presents our participation under the team name Finance Wizard' in the FinNLP-AgentScen 2024 shared task #2: Financial Text Summarization. It documents our pipeline approach of fine-tuning a foundation model into a task-specific model for Financial Text Summarization. It involves (1) adapting Llama3 8B, a foundation model, to the Finance domain via continued pre-training, (2) multi-task instruction-tuning to further equip the model with more finance-related capabilities, (3) finally fine-tuning the model into a task-specificexpert'. Our model, FinLlama3_sum, yielded commendable results, securing the third position in its category with a ROUGE-1 score of 0.521.