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Over the past couple of months, large language models, or LLMs, such as chatGPT, have taken the world by storm. Whether its writing poetry or helping plan your upcoming vacation, we are seeing a step change in the performance of AI and its potential to drive enterprise value. My name is Kate Soule. Im a senior manager of business strategy at IBM Research, and today Im going to give a brief overview of this new field of AI thats emerging and how it can be used in a business setting to drive value. Now, large language models are actually a part of a different class of models called foundation models. Now, the term foundation models was actually first coined by a team from Stanford when they saw that the field of AI was converging to a new paradigm. Where before AI applications were being built by training, maybe a library of different AI models, where each AI model was trained on very task-specific data to perform very specific task. They predicted that we were going to start movin