Generative AI was a groundbreaking development last year, with the emergence of popular chatbots such as OpenAI’s ChatGPT and Google’s Bard taking the technology world by storm. However, using the large language models (LLMs) powering these chatbots has several disadvantages, hindering the adoption of the technology. For this reason, LLMs will be gradually replaced by smaller, custom language models in 2024, says GlobalData.
Training and operating LLMs involve steep costs, with expensive computing resources required to process the vast amounts of data used in AI. Specialized models ultimately deliver better value and accuracy.
