Six Industries That Can Benefit From Using Large Language Models

Large language models (LLMs) – aka the models that power AI like chatbots – aren’t just confined to uses in academia anymore. LLMs are trained using deep learning models on vast amounts of natural language data, making them ideal for text-based AI assistants. Because of the broad training data, LLMs can find practical uses in a wide range of industries from retail to healthcare and more. Here are six industries that profit from using large language models and a few use cases to offer you some inspiration for your individual consideration.

Retail and eCommerce

Large language models will be used to enhance the shopper experience by providing personalized recommendations, answering customer inquiries, and assisting with purchases. Companies can use chatbots to interact with customers in a natural setting, providing customer support, answering questions, and guiding customers through the acquisition process. LLMs may even be used to investigate customer data to supply personalized recommendations, similar to by analyzing past purchases and suggesting recent products that they might be fascinated about.

Finance

There are plenty of how you could use large language models in finance. LLMs will be great for analyzing financial reports, news articles, and other financial data to assist financial analysts make informed decisions. With risk assessment, LLMs can analyze customer data and assess credit risk, similar to to assist predict the likelihood of defaulting on a loan. LLMs are great for trading as well, similar to by analyzing market data to assist make improved trading decisions.

Healthcare

Healthcare has proven time and time again to be one among the most important industries for using and benefiting from artificial intelligence, including LLMs. One of the more common uses for giant language models in healthcare has been with medical diagnosis, using LLMs to investigate medical records and to assist diagnose illnesses. LLMs will also be used to observe patients and supply real-time alerts, analyze scientific research to assist discover recent drugs, analyze electronic health records to enhance patient care, and to supply interactive simulations and virtual patient interactions to assist with education.

Marketing and Advertising

While large language models and AI generally are likely to be quite controversial in the case of marketing and writing, there are some practical uses that won’t take away any jobs. One of the perfect ways to make use of LLMs in marketing is by doing research. Tools like ChatGPT can summarize ideas in a concise way so that you don’t have to go looking through dozens of internet sites to get the reply or idea you’re searching for. If your marketing team uses a chatbot, then an LLM will be used to supply customer support with natural language. LLMs are also helpful with personalization by working with customer data to supply personalized recommendations.

Education

Ignoring the recent cases of plagiarism, AI-generated books, and issues in schools, LLMs generally is a huge boon to the world of education. Similar to marketing and promoting, students can use LLMs to research topics and get quick summaries, think modern-day SparkNotes. From the educator’s perspective, a teacher can use an LLM to investigate student data to supply personalized recommendations, all to suggest areas where a student may require some extra help.

Government and Public Services

Lastly, large language models will be utilized in government institutions. A standard use for AI/LLMs in government is with policy evaluation, where one can analyze policy documents and make recommendations. You also can use LLMs to enhance citizen engagement by analyzing public sentiment, analyzing social media data for emergency response, translating government documents to other languages, and detecting fraudulent activity, amongst other uses.