3 Big Challenges Of Commercial LLMs
InforWorld, Wednesday, November 29,2023
The high costs of development and training and the lack of pricing transparency put commercial large language models out of reach for many companies. Open source models could change that.
Large language models (LLMs) can understand and generate human language. These generative AI tools are powerful and popular, with over 90% of retail and ecommerce leaders reporting using them to assist with work tasks, according to a recent Future Commerce report.
For example, LLMs can generate different versions of a product description for different types of customers-such as those interested in sustainability, price or style-helping ecommerce businesses personalize their engagement and therefore drive more revenue. LLMs received a $10.5 billion valuation in 2022, and experts predict their valuation will reach $40.8 billion by 2029.