HOW COMPANIES CAN LEVERAGE THEIR LLM FOR BUSINESS INNOVATION
2023/01/19 | 3mins
LLM CRAZE IN BUSINESS
AI adoption budget plan by industry - 2023~2026 (Source: Master of Code )
One of the keys to business innovation is efficiency. That's why many companies are constantly looking for ways to apply technology to their business to maximize productivity and achieve cost efficiencies. This trend is continuing with the recent introduction of AI and the huge language model craze. According to the '2023 AI Readiness Report' released by Scale AI, interest in artificial intelligence is so high that 72% of companies plan to significantly increase their investment in AI every year for the next three years. In particular, because LLM can be used for a variety of natural language processing tasks, it is being applied to various areas such as corporate task automation and customer support. Let’s take a closer look at examples of LLM being applied to actual businesses.
CORPORATE USE CASES FOR LLMS
(1) Customer support innovation: increased automation and interaction
ConnectWave, an e-commerce company that collaborated with AI company Upstage to build a ‘private giant language model’ based on generative AI.
A VARIETY OF INDUSTRIES ARE USING LLMS TO AUTOMATE CUSTOMER SUPPORT SERVICES. AN LLM SPECIALIZING IN NATURAL LANGUAGE PROCESSING (NLP) CAN HELP YOU INTERACT WITH CUSTOMERS THROUGH CHATBOTS AND ENHANCED PRODUCT SEARCH FUNCTIONS. 24-HOUR CUSTOMER SUPPORT AND PERSONALIZED SERVICES THAT CAN BE PROVIDED WITHOUT ADDITIONAL MANPOWER IMPROVE CUSTOMER SATISFACTION. ADDITIONALLY, COMPANIES CAN COLLECT AND ANALYZE CONVERSATION DATA THROUGH THE SERVICE TO IMPROVE THE QUALITY OF THE SERVICE OR GAIN VALUABLE BUSINESS INSIGHTS.
(2) Content marketing
Prompt: “Give me 20 unique article titles related to child care in a click-bait style.” (Source: Wes McDowell YouTube )
Prompt: “Now create an outline for an article: 'The Incredible Sleeping Trick That Will Transform Your Child's Nightmare Routine!' Write it as a professional childcare expert and write it for young moms.” (Source: Wes McDowell YouTube )
AN LLM CAN ALSO BE USED FOR CONTENT CREATION AND MARKETING. THERE ARE ENDLESS WAYS TO USE IT, INCLUDING WRITING BLOGS, SNS POSTS, PRODUCT DESCRIPTIONS, ARTICLES, EMAILS, SALES PRESENTATIONS, AND PROMOTIONAL COPY IDEAS. BY ENTERING CONTENT TOPICS, GOALS, AND REQUIRED DETAILS INTO GENERATIVE AI AS PROMPTS, YOU CAN DRAMATICALLY SAVE TIME AND MONEY ON CONTENT CREATION AND MARKETING. YOU CAN ALSO EXPLORE METHODS SUCH AS CORRECTING GRAMMATICAL ERRORS OR CONDENSING LONG SENTENCES TO MAKE THEM MORE READABLE. MANY COMPANIES ARE INCREASINGLY LEVERAGING LLMS IN CONTENT MARKETING TO INCREASE WEBSITE TRAFFIC, GENERATE LEADS, AND IMPROVE COMMUNICATION WITH CUSTOMERS.
WriteUp, a service that helps writing and content creation tailored to the situation/context
An example of an LLM that helps create such content is 'WriteUp', an artificial intelligence writing service recently launched by Upstage. 'WriteUp' helps users write in context and correct grammatical errors or typos. There is a function to select writing for various situations such as casual situations or business work, and it is also possible to support multiple languages and use emoticons, so you can easily write in various styles and polish them to perfection. Install WriteUp with Solar LLM on your Mac computer to write efficiently from any online editing window.
(3) Information retrieval and extraction
AS PART OF DIGITAL INNOVATION, MANY ORGANIZATIONS ARE WORKING TO DIGITIZE DOCUMENTS AND SYSTEMATIZE THEM TO EASILY CHECK AND EXTRACT DATA. THIS IS BECAUSE HUMAN PROCESSING OF DOCUMENTS MANUALLY TAKES A LOT OF TIME AND MONEY, AND ERRORS CAN EASILY OCCUR. IN THIS CASE, AN LLM WOULD BE A GOOD SOLUTION. COMBINING LLM WITH DOCUMENT AI TECHNOLOGY (OCR) CAN HELP YOU ACCURATELY INTERPRET CONTEXT AND EXTRACT IMPORTANT INFORMATION, EVEN IN BUSINESS DOCUMENTS CONTAINING TABLES AND COMPLEX PARAGRAPHS. IF YOU GO ONE STEP FURTHER, YOU CAN EVEN CONVERT MARKDOWN AFTER STRUCTURAL ANALYSIS.
Upstage's 'Layout Analyzer' is a representative example. Layout Analyzer's strengths can be broadly divided into three categories: detecting elements in a document, reading the order appropriate for the context of the document, and recognizing relationships between paragraphs (image-caption / table-caption). In other words, it is possible to analyze the structure and content of a document, extract the necessary information, and organize it into a database. By leveraging these technologies to automate information search and extraction in your business, you can effectively automate repetitive tasks and easily derive useful insights.
(4) DOMAIN-SPECIFIC LLM
A domain-specific LLM refers to a language model specialized for a specific field. Unlike general-purpose LLM, it is characterized by focusing on specific domains, enabling more accurate and contextual responses and preventing AI hallucinations. It can be trained to comply with industry regulations, ensuring reliable response and streamlined workflow. Thanks to these advantages, there is an increasing movement to introduce domain-specific LLMs and private LLMs into professional industries such as finance, medicine, and law. This model can be installed and operated on a company's internal server to prevent information leaks. Recently, AI company Upstage launched 'Solar' , a small but powerful language model designed to enable stable and innovative adoption of AI in various companies. Consider these use cases and build a domain-specific LLM to gain a competitive advantage in your industry.
Google's medical-specific Med-PaLM 2 being tested to ensure safe and reliable usability (Source: Google Research )
Performance comparison evaluation table of financial-specific language model BloombergGPT (Source: Bloomberg )
(5) Smart work automation
According to McKinsey , generative AI and technology can automate up to 70% of the time employees spend on work. Generative AI can automate repetitive tasks across a variety of industries and provide valuable insights to help with decision-making. You can also easily prioritize tasks, enter data into systems, and summarize documents. Optimizing your LLM-based RPA bot can help you extract, classify, and generate reports while ensuring the information is up-to-date and user-preferred.
concluding
APPLYING A LARGE LANGUAGE MODEL TO BUSINESS HAS NOW BECOME A NECESSITY, NOT AN OPTION, FOR CORPORATE SURVIVAL AND INNOVATION. LLM, WHICH IS DEVELOPING RAPIDLY, WILL GO FROM BEING A SIMPLE MEANS OF TASK PERFORMANCE TO A CORE TECHNOLOGY THAT HELPS COMPANIES MAKE EXTENSIVE DECISIONS AND OPTIMIZES AND STREAMLINES ADVANCED WORK. FIND WAYS TO GROW YOUR BUSINESS INFINITELY BY SETTING THE RIGHT LLM INTRODUCTION GOAL AND ESTABLISHING A STRATEGIC PLAN THAT FITS YOUR CURRENT BUSINESS SITUATION.
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