Unlocking Business Growth: The Power of Large Language Models

For all of us in the bustling world of business, understanding the potential of AI is crucial for gaining a competitive edge. Let’s break it down from a managerial perspective.

Traditional AI: Imagine you own a premium denim brand. Quality control is key. You want every product that reaches your customers to be perfect. But manual inspections can be time-consuming and prone to errors. Traditional AI is able to achieve this through a training dataset, a collection of images used to teach the AI what a tear or discolouration in the fabric looks like. These training datasets can be expensive to build and are usually focus on a very specific question.

For a long time, AI’s massive advantages seemed reserved for the big players, think the tech behind online advertising, search engine results or online shopping recommendations. The investment made sense for corporate giants, but for nimble, smaller businesses, it often seemed an unattainable dream.

However, on November 30th, 2022, the game changed forever. OpenAI introduced ChatGPT, championing the era of Large Language Models (LLMs). These aren’t your standard Traditional AI models focused on a specific question. They’re versatile, equipped to handle any language-based task. It’s like hiring a genius who can adapt to virtually any role. Need to tweak the tone of a crucial email pitch? Curious about sales trends? Struggling with task scheduling? LLMs complete these tasks quickly and easily.

How smart is an LLM? When tested with a specialized version of the WAISE IV IQ test, LLMs like OpenAI’s GPT often achieve a perfect score. When a human gets close to a perfect score their IQ is considered so high it’s unmeasurable. Some argue it’s just because the IQ questions and answers were part of their training dataset, and sure, there is some truth to that. The LLM is recalling pre-learned answers, but isn’t that part of human expertise? Don’t we all just “knowledge recall”? How often do you work something out from scratch? And when you do have an original idea how often is it just building on someone else’s previous work?

All that said, LLMs aren’t perfect. They’re like a genius savant who, after answering a question forgets you ever asked it. They’re unparalleled for short, focused tasks but lack the long-term memory and context we as humans possess.

What does this mean for businesses? It means having an ultra-efficient intelligent human at your disposal for short tasks. Want to gauge the tone of an important document? Need insights from complex data sets? Or perhaps quick translations for international clients? LLMs are the solution.

Take Nexoid as an example. We have an IT helpdesk product that we integrated with OpenAI’s LLM. The workflow now seamlessly uses the LLM to predicting ticket completion times, estimates security risk, and even simplify and translate users’ queries. It’s a game-changer, not only improving efficiency but also proving management visibility of soft data which previously would have been impossible. The benefits are simply huge.

But the real magic of AI, especially LLMs,is in data interpretation. Numbers are just the tip of the iceberg. LLMs dive deeper, offering insights on language-based data. Customer satisfaction, employee performance, relationships and professionalism can now all be measured. LLM’s can interpret language data into actionable information.

The evolution of AI, particularly LLMs, isn’t just a tech breakthrough; it’s a business revolution. Embracing their capabilities can redefine efficiency and drive unparalleled growth, making it the perfect addition to any forward-thinking enterprise.