What are foundation models and why are they so useful in NLP?
In recent years, the domain of Artificial Intelligence (AI) and Natural Language Processing (NLP) was taken by storm by so-called “foundation models”. Even if you are not following AI updates, you might have seen pictures generated by the recently released DALL-E-2, Jasper, Stable Diffusion or even the latest Lensa AI app that is flooding social media platforms with AI-generated “avatars”. Maybe you read claims that ChatGPT can automatically produce text on a near-human level. But foundation models are helpful for much more than entertaining one’s followers on social media: they are used by many companies to solve their data-related tasks automatically.
