A foundation model is a generic term for large models with billions of parameters. With recent advances, companies can now build specialized image- and language-generating models on top of these foundation models. Large language models (LLMs) are both a type of generative AI and a type of foundation model.
The LLMs behind ChatGPT mark a significant turning point and milestone in artificial intelligence. Two things make LLMs game changing. First, they’ve cracked the code on language complexity. Now, for the first time, machines can learn language, context and intent and be independently generative and creative. Second, after being pre-trained on vast quantities of data (text, images or audio), these models can be adapted or finetuned for a wide range of tasks. This allows them to be reused or repurposed in many different ways.
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