AI language models or Large Language Models (LLMs), an execution of so-called »Foundation Models«, are the latest development in the field of Artificial Intelligence – they have captured the public imagination and garnered a great deal of attention.
Their potential can speed up or even completely automate time-consuming human tasks in content creation, revision, transformation and analysis. At the same time, however, the models' capabilities have also raised concerns.
This guide aims to facilitate informed discussions about the consequences of this technological development by explaining the technical basics of large language models. The functionality as well as central aspects of the models are therefore illuminated and general use cases are outlined. These are also exemplified with concrete use cases. Finally, ways in which companies can benefit from this technical development are discussed and some recommendations for the development and use of the models are formulated.Â
