Without a doubt, LLM models have a big impact on how we use AI nowadays. Large language models are basically artificial intelligence algorithms that use machine learning and deep learning techniques as well as massive training datasets to understand, generate, and summarize content. How can they be used, and for what? Let’s have a look at some of the most important LLM use cases.
In general, large language models can be used for a wide variety of tasks that involve NLP (natural language processing). This includes the following applications:
- Sentiment analysis
- Textual content generation
- Text-to-speech synthesis
- Text summarization
- Content rephrasing and repurposing and more
We listed ten of the most popular or important LLM use cases that help companies and individuals do their jobs more effectively. Let’s have a look at them.
The most important LLM use cases
CUSTOMER SERVICE
The first application we want to mention is customer support automation. LLM models are nowadays used to fuel smart customer assistants (chatbots) that are utilized to answer frequently asked questions, provide customers with the information they need (e.g., regarding the location of the nearest open store), or provide personalized product recommendations. At first, chatbots were strictly rule-based, meaning they could operate only within predefined scenarios. Thanks to LLM models, they can have more meaningful conversations and respond in a more human-like way.
R&D CENTERS
LLM models come in handy when it comes to market research and analysis of available data. Data scientists use them to analyze vast amounts of textual data, whether it’s coming from some research or other available sources, e.g., social media posts or online articles. LLMs are great at analyzing and summarizing data at scale, so if you want to draw conclusions from research consisting of thousands of answers, use a selected LLM model to streamline your work.
LEGAL DOCUMENTS
LLM models also support legal firms and departments. Imagine a simple scenario: Your company received a legal contract that has over 20 pages; you need to verify whether it’s good from a legal perspective quickly. You can employ an LLM model to go through this contract for you and point your attention to everything that needs to be double-checked from a legal perspective.
FINANCE
In the same way, LLM models analyze legal documents and research results; they can analyze financial data, including financial reports, stock market reports, currency exchange reports, etc., to provide you with ready-made conclusions and actionable insight that finance departments can use in their daily work. Thanks to LLMs in finance, you have access to accurate financial data comprising the key financial metrics (such as revenue and losses) to make informed financial decisions.
MARKETING
LLMs play a huge role in marketing, too. Here, these algorithms can be used mostly to generate diverse pieces of content, from product descriptions to social media posts. While there are some limitations, when experienced marketers use these tools, they can facilitate their work and speed it up because LLMs can do a large portion of the work for them. Here’s an example: You run an online store, and you have five very similar products in your offer. For SEO purposes, you need five different descriptions for them (to avoid duplicate content), so you create one description and ask an LLM model to create four more based on that input.
LOGISTICS
LLMs can help you with analyzing your logistics data (e.g., supply-chain-related) to optimize your company’s logistics. LLMs can help you identify potential opportunities and avoid typical pitfalls (such as the dead stock issue). Bear in mind, though, that LLMs are not specifically designed for logistics, so their input must be supplemented by your team’s real-life experience.
HEALTHCARE
Here, LLMs are used to analyze medical and patient data to assist with such tasks as patient diagnosis, treatment recommendation, and patient history analysis. By analyzing patient data at scale, LLMs can save clinicians and doctors valuable time and provide them with the information they need to provide effective treatment to each patient.
HUMAN RESOURCES
Imagine you’ve just received the 500th resume of the latest job ad. Surely, you don’t have time to analyze them all, but you can employ an LLM model that will perform resume screening for you. This way, you can quickly identify 10-20 top candidates and focus on them in your work. Also, HR departments more and more often use LLMs to source candidates, e.g., by putting recruitment chatbots on their websites to encourage people to apply.
RISK MANAGEMENT
LLM models can be used for risk management purposes. Just like before, it’s all about analyzing and drawing actionable conclusions from the available market data. LLMs can go through financial reports, relevant news articles, and social media posts to identify and alert you about potential market risks. And they can do so 24/7, thus streamlining risk management in your company.
E-COMMERCE
Lastly, LLMs can be used to provide your customers with personalized product recommendations. These AI-powered algorithms can analyze the behavior patterns and preferences of your customers to offer them products that are potentially interesting to them based on their previous purchases and searches.
Summary
Today, LLMs find dozens of fascinating applications and streamline work across departments and industries. If you want to implement them in your company, talk to a trusted generative AI development company to see how it can be done.
