The author predicts a resurgence in NLP usage in the next 12 months as the value of a combined NLP and LLM-based system becomes apparent. This combination will allow corporate data lakes to fully realize their potential. Despite challenges such as high costs and hardware requirements, the author believes that businesses that leverage both NLP and LLMs will be the big winners, maximizing their investments and bringing interactive LLM applications to market faster.
Key takeaways:
- The adoption of large language models (LLMs) in businesses is increasing rapidly, with 55% of corporations piloting or releasing LLM projects as of October 2023.
- Despite the rise of LLMs, natural language processing (NLP) engines will become more important than ever, as they are adept at mining a wide variety of content types and tying them together with common metadata elements.
- Combining NLP and LLM technologies can allow businesses to uncover opportunities that were not previously possible, such as identifying and understanding trends in customer sentiment.
- Despite challenges such as high costs and hardware requirements, the combination of NLP and LLMs will enable businesses to maximize their investments and be faster to market with interactive LLM applications.