Here's What Every Business Should Know About Large Language Models

From shaping stories to simplifying complex articles to engaging in conversations that feel genuinely human, large language models (LLMs) are driving a new era of AI.

In this article, we share our decade-long experience as an AI software development firm and dive into the world of LLMs, unraveling their innards and exploring how they’re reshaping the future of artificial intelligence.

Let’s Kick It Off With the Basics: What Are Large Language Models?

A large language model is an algorithm trained to recognize, summarize, translate, predict, and generate any form of text.

How Do LLMs Differ From Traditional Language Models?

Large language models fall under the umbrella of deep learning algorithms known as transformer neural networks. It is the transformer architecture that helped surpass the limitations of traditional language models that have been around for years.

Traditional language models operated in a sequential manner, processing one word (or character) at a time and delivering an output once the entire input text had been consumed.

While quite functional, these models had a notable flaw: they used to “forget” the beginning of a sequence by the time they reached the end.

It all changed in 2014 when the attention mechanism was first introduced which was later popularized by Google. The attention mechanism enabled a paradigm shift from sequential processing, allowing a transformer model to perceive the entire sequence simultaneously.

This revolutionized the machines’ understanding of context. By embracing the entirety of the input at once, the transformer model gains the ability to comprehend the nuances and complex relationships among words in a text.

How Do LLMs Work Under the Hood?

Large language models learn from data.

The datasets used to train LLMs are massive. For example, OpenAI’s well-known and much-loved GPT4 is believed to have been trained on about 13 trillion tokens (think: basic units of text that a model can process.)

The model gradually learns words, the concepts behind them, and the relationships between them. Once a model has learned enough, it can transfer its “knowledge” to solving more complex problems, like predicting and generating text.

It is possible thanks to a two-component transformer architecture consisting of an encoder and a decoder:

Once an input text is fed into a model, it is converted into tokens that can be parts of words, entire words, parts of sentences, or full sentences. The tokens are then converted into vector-space representations that preserve the initial token meaning.

The encoder structures these representations, picking out important details and creating a context vector based on that. So, the context vector holds the essence of the entire input text.

Based on the initial output and relying on the context vector, the decoder generates a coherent output, say, picking out the most suitable word to finish a sentence. By repeating this process, a transformer model can generate the entire passage word by word.

Due to this extensive training process, LLMs are not limited to performing any specific task and can serve multiple use cases. These types of models are also referred to as foundation models. However, you can fine-tune the foundation models to perform a narrow task by feeding them small bits of data to focus on.

How Are Large Language Models Used in Business?

Large language models are proving to be valuable assets across sectors. Here are just a few use cases to give you an idea of what LLMs are capable of.

1. Chatbots and Virtual Assistants

LLMs are driving the evolution of customer service and engagement. Chatbots and virtual assistants powered by LLMs can handle complex inquiries, provide personalized recommendations, and engage in human-like conversations, enhancing user experiences and operational efficiency.

Energy companies, like Essent, deal with a consistent influx of customer service demands. Jeroen Roes, lead conversational AI program manager at Essent, says that the company had relied on telephony as its primary customer service tool for decades.

However, in the face of intensifying competition and a surge in customer service requests, Essent recognized the need to reinvent its operations to maintain a competitive edge.

The company saw an opportunity in LLM-based chatbots. By harnessing this innovative technology, Essent managed to meet the growing customer service needs.

2. Sentiment Analysis, Market Research, and Trend Prediction

Businesses are leveraging LLMs for sentiment analysis to gauge public opinion, track brand perception, and predict market trends. By analyzing vast datasets, LLMs help businesses make informed decisions, optimize marketing strategies, and stay ahead of the competition.

For example, Sprinklr, a social media management and customer engagement platform, harnesses large language models for sentiment analysis. This assists businesses in monitoring and engaging with discussions related to their brand or product on social media.

Sprinklr’s platform analyzes social media data to identify sentiment patterns and provide valuable insights into customer behavior and preferences.

3. Content Generation

LLMs are changing the old approaches to writing content. They can generate high-quality articles, reports, and product descriptions. Content generated by LLMs can be customized to fit specific brand voices, ensuring consistency and authenticity.

Here are some noteworthy LLMs used for content generation across sectors:

• GPT-3, 4: These models excel in human-like dialogue generation, copywriting, translation, and many other language-related tasks.

• LaMDA: Google’s LaMDA is designed for engaging conversations and text generation, offering valuable applications in human interaction.

• Megatron-Turing NLG: A versatile language model, Megatron-Turing NLG is used for a wide range of text-based tasks and is particularly known for its strong support for multiple languages.

• DALL-E, Stable Diffusion, MidJourney: These models are experts in generating images based on textual descriptions, opening up new possibilities in creative content generation

4. Personalized Recommendations

E-commerce platforms and streaming services are harnessing LLMs to deliver personalized recommendations to users. These models analyze user behavior and preferences to curate content, products, and services tailored to individual tastes, enhancing customer satisfaction and retention.

For instance, Instacart, a grocery delivery service, utilizes LLMs to address nutrition queries and offer personalized product recommendations.

Adopting LLMs for Business: Factors to Consider

Incorporating large language models into your business operations is a strategic move that can yield significant benefits. However, it’s crucial to navigate this transformation thoughtfully and meticulously.

Here, we delve into the essential factors you should consider when adopting LLMs for your enterprise.

1. Available infrastructure and resources

LLMs are hungry for processing power, so they require a robust infrastructure. Before diving in, assess your current IT infrastructure and determine if it can accommodate the substantial computational demands of LLMs, or if an upgrade or expansion is necessary.

Also, keep in mind that LLMs can be resource-intensive. As your business grows and your reliance on LLMs increases, scalability becomes pivotal. Ensure that your infrastructure is not just suitable for current needs but can also adapt to future ones.

Scalability might involve adding more powerful servers, utilizing cloud-based solutions, or a combination of both.

2. Choose whether to go open-source or custom

There are two common ways to adopt LLMs: fine-tune an open-source model or train a custom one. Your choice should align with your business objectives.

Open-source models, like GPT-3,5, offer a cost-effective entry point for experimenting with AI-powered applications. They’re pre-trained on extensive datasets and can perform a wide range of language-related tasks.

However, they may not be tailored to your specific needs, which calls for fine-tuning.

If you require a competitive edge and greater flexibility, custom models are the way to go. They offer flexibility in deployment, allowing you to tailor the model’s structure, configuration, and size to your specific requirements and objectives.

For example, if you run an e-commerce platform, a custom LLM can be trained to better understand product-specific queries and user interactions.

3. Weigh the available expertise and skills

Successful LLM deployment relies on a skilled team. Natural language processing, machine learning, and deep learning experts are crucial assets. These professionals can fine-tune and optimize LLMs for your specific use case, ensuring they meet your business objectives effectively.

And if you lack in-house expertise, consider partnering with generative AI services providers. Specializing in crafting AI solutions, they can provide the necessary skills and guidance.

4. Make sure to consider data governance and compliance requirements

Businesses operating in healthcare, finance, and other regulated industries adhere to strict data privacy regulations. Consequently, when implementing LLMs, they must pay attention to data governance and compliance.

Establish robust data governance policies and compliance measures to safeguard user data and maintain trust. Encryption, access controls, and audit trails are essential components of data protection. Ensure that your LLMs comply with industry-specific regulations, too, like HIPAA in healthcare.

Challenges and Risks Associated With LLMs

While LLMs offer remarkable capabilities, they also present challenges that businesses must be aware of. Here, we look at these challenges and offer solutions to ensure successful LLM implementation:

Challenge 1. Bias in training data

LLMs learn from vast datasets, but these datasets may contain bias present in the original sources. As a result, LLM-generated content may unintentionally perpetuate or amplify this bias.

Mitigation: Regularly audit and fine-tune LLMs to identify and remove bias. Implement bias detection algorithms and guidelines during model training to reduce skews in the output.

Additionally, consider diversifying the training datasets to minimize inherent bias.

Challenge 2. Data privacy and security concerns

LLMs often handle sensitive customer data or proprietary information. Inadequate security measures can result in data breaches.

Mitigation: Implement stringent data security measures, including encryption of sensitive data, access controls to restrict data access to authorized personnel only, and compliance with relevant data protection regulations (e.g., GDPR, HIPAA). Regularly update security protocols to stay ahead of emerging threats.

Challenge 3. Learning curve and employee resistance

Employees accustomed to traditional workflows may resist the integration of LLMs, viewing them as disruptors or threats to their roles.

Mitigation: Invest in comprehensive training programs to upskill employees and familiarize them with the LLM technology. Implement change management strategies that involve employees in the transition process and emphasize the benefits of LLMs in enhancing efficiency and productivity.

Challenge 4. Risk of overreliance

Heavily relying on LLMs, especially when it comes to generating messages for business communication, can dilute brand authenticity and creativity.

Mitigation: Strike a balance between automation and human creativity. Use LLMs as tools to aid and augment human creativity rather than replace it. Continuously review and edit LLM-generated content to align it with your brand’s unique voice and values.

To Sum It Up

Large language models are powerful tools that hold the promise of driving innovation, enhancing customer experience, and optimizing operations. Understanding the intricacies of LLMs and the considerations for their adoption is vital for businesses seeking a competitive edge.

If you are considering embarking on the LLM journey and exploring the limitless possibilities they offer, we are here to help! Reach out to ITRex Group, and we will answer any unanswered question and help you embrace the future with LLMs.