<human>:  What is the history of the city of Florence, Italy?
<bot>: Florence, Italy has a long and rich history. It was founded as a Roman city in the 1st century BC and later became an important center of medieval European trade and finance and one of the wealthiest cities of the time. During the Renaissance period, Florence was at the heart of the artistic and intellectual movement and its artistic legacy can still be seen in the city's numerous museums, churches and architectural masterpieces. In the modern era, Florence is a major cultural center, with a reputation for fashion, art and high culture.