How to quickly develop a credible response to the LLM hype

As Large Language Models (LLMs) continue to advance, they bring forth a paradigm shift in the capabilities of artificial intelligence. For CEOs and senior leaders, understanding the implications of LLMs is crucial to effectively harness their potential for business growth.

As I’ve been speaking to friends across the market, it is clear that many are struggling to articulate a credible response to the question of what LLMs mean for their organisations.

In classic consultant style, I’m not going to tell you the answer, but instead give you a framework to develop one that makes sense?to you and your organisation.

LLMs: A genuine and substantial leap in AI capabilities

LLMs represent a significant advancement in the capabilities of AI, particularly in natural language processing. It is essential for all leaders to grasp the magnitude of this development and its potential impact on various aspects of their business operations. By recognising LLMs as a transformative technology, anyone responsible for business operations or commercial success can start exploring their applications and strategising their implementation.

The "iPhone Moment" for LLMs:

Whilst the underlying technological building blocks (BERT, GANs etc) have been increasingly prevalent since the mid 2010’s, it is clear that this year the technology has had its iPhone moment with the massive insertion into the public consciousness of ChatGPT and then everything that came after.

ChatGPT was that moment when all the pieces were brought together in a way that truly delights, and it crossed the threshold from hot on HackerNews, to being discussed on This Morning. It is clear that LLMs have the potential to revolutionize how businesses operate.

CEOs should consider LLMs as a game-changer that can reshape customer experiences, automate tasks, improve decision-making, and unlock new opportunities. Embracing LLMs at the right time can position organizations as industry leaders and disruptors (more on this another time).

Developing a Credible Understanding:

Every senior leader must strive to develop a credible understanding of LLMs and their implications. It is no longer enough to dismiss LLMs as mere "GPT shit." All of us need to take ownership of understanding this technology to make informed decisions that align with your business goals and values. This entails gaining insights into the potential use cases, limitations, ethical considerations, and strategic implications associated with LLMs.

Key Questions to Answer:

Before CEOs can confidently answer the broader question of what LLMs mean for their businesses, there are several critical questions that need to be addressed:

• What was your institutional experience and learning from the blockchain hype?
• How adaptable is your organisation? How long did it take you to get onto the cloud?
• What are your canaries? : Navigating the Prime Time for LLM Adoption
• Are You Ready? Positioning Your Data and Documents for LLM Utilization
• Do you have the right mix of voices on this to guide your org?
• How will you navigate the uncertainty?
• Who do you trust to help sniff out the bullshit?
• Risk Appetite in the Tech Curve: From Bleeding to Leading to Laggard, Where Do You Stand?
• What is a sensible investment strategy when so much is unkown?
• What are your stakeholder's expectations around you using this type of tech?

?

Over the next couple of days, I’ll try and unpack each of these in turn.

?

But let me leave you with some updated key reasons why (after sitting out a host of other hype cycles) I'm all in on LLMs:

?

• When used well they are multiplicative personal leverage
• The defining economic feature of digitization is bringing zero marginal costs to information, and now we have 0 marginal cost idea substantiation
• Strong T’s become Sharp Triangles

?

…so what?

Organisations who adopt this well, and quickly can transform from pyramids to obelisks and outcompete others on speed and cost.

#llm #ai