mlsanityData to 7 Oct 2026

GPT-3 Models are Few-Shot Financial Reasoners

arXiv 2307.13617 ↗First posted 25 Jul 2023cs.CL cs.AIcited by 2

On the map: LLM reasoning → Reasoning for agents, planning and code

Abstract (arXiv)

Financial analysis is an important tool for evaluating company performance. Practitioners work to answer financial questions to make profitable investment decisions, and use advanced quantitative analyses to do so. As a result, Financial Question Answering (QA) is a question answering task that requires deep reasoning about numbers. Furthermore, it is unknown how well pre-trained language models can reason in the financial domain. The current state-of-the-art requires a retriever to collect relevant facts about the financial question from the text and a generator to produce a valid financial program and a final answer. However, recently large language models like GPT-3 have achieved state-of-the-art performance on wide variety of tasks with just a few shot examples. We run several experiments with GPT-3 and find that a separate retrieval model and logic engine continue to be essential components to achieving SOTA performance in this task, particularly due to the precise nature of financial questions and the complex information stored in financial documents. With this understanding, our refined prompt-engineering approach on GPT-3 achieves near SOTA accuracy without any fine-tuning.

Key facts. Cited by 2 papers in the map (data through 7 Oct 2026). Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning. Builds on 10 of its 29 references that are in the map. First posted on arXiv 25 Jul 2023.

Builds on

10 of 29 references.

References · 10

  1. 2018BERT: Pre-training of Deep Bidirectional Transformers for Language Understandingcited by 40,204
  2. 2014Adam: A Method for Stochastic Optimizationcited by 36,960
  3. 2020Language Models are Few-Shot Learnerscited by 32,199
  4. 2019RoBERTa: A Robustly Optimized BERT Pretraining Approachcited by 13,266
  5. 2020Retrieval-Augmented Generation for Knowledge-Intensive NLP Taskscited by 9,160
  6. 2020ColBERT: Efficient and Effective Passage Search via Contextualized Late Interaction over BERTcited by 1,160
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  8. 2020Global Table Extractor (GTE): A Framework for Joint Table Identification and Cell Structure Recognition Using Visual Contextcited by 146
  9. 2022On the Paradox of Learning to Reason from Datacited by 93
  10. 2020Relevance-guided Supervision for OpenQA with ColBERTcited by 71

Built on by

Cited by year

Citing papers per year: 2023: 1; 2024: 0; 2025: 1.

2 papers.

Similar, not cited

Close in wording, no citation either way

  1. 2023Can GPT models be Financial Analysts? An Evaluation of ChatGPT and GPT-4 on mock CFA Exams
  2. 2023BizBench: A Quantitative Reasoning Benchmark for Business and Finance
  3. 2024FinLLMs: A Framework for Financial Reasoning Dataset Generation with Large Language Models
  4. 2023Beyond Classification: Financial Reasoning in State-of-the-Art Language Models
  5. 2023Zero-Shot Question Answering over Financial Documents using Large Language Models
  6. 2024KodeXv0.1: A Family of State-of-the-Art Financial Large Language Models
  7. 2025FinDER: Financial Dataset for Question Answering and Evaluating Retrieval-Augmented Generation
  8. 2024Fine-tuning Smaller Language Models for Question Answering over Financial Documents