Enhancing Q&A with Domain-Specific Fine-Tuning and Iterative Reasoning: A Comparative Study

AI-powered question-answering (Q&A) systems have emerged as important tools, alongside established search technologies, to enable quick access to relevant information and knowledge from large digital sources that are complex and time-consuming for humans to navigate. Advancements in large language models (LLMs) have revolutionized the field of Q&A, with models like GPT-3 (Brown et al. 2020), BERT (Devlin et al. 2018), and RoBERTa (Liu et al. 2019) demonstrating remarkable abilities in understanding and generating human-like text. However, the effectiveness of such models in handling domain-specific questions that require specialized knowledge is limited. Retrieval-augmented generation (RAG) techniques, which combine information retrieval and generative models (Lewis et al. 2021), have shown promise in boosting the quality of LLM output in Q&A tasks. RAG systems leverage the strengths of both retrieval and generation components to provide contextually relevant and informative responses. While there is a lack of established quantification of RAG accuracy, early findings suggest that generic RAG does not perform well in complex domains such as finance. In one instance, RAG based on generic LLMs such as GPT-4-Turbo fails to answer 81% of the questions derived from Securities and Exchange Commission (SEC) financial filings (Islam et al. 2023). Aitomatic, Inc. (except as noted, all authors are from Aitomatic)