Firms move to small language models to cut costs, gain efficiency and customisability.
Author: Sohini Bagchi | Source: Techcircle | Read the full article
In the evolving world of artificial intelligence (AI), companies are increasingly turning to small language models (SLMs) as a cost-effective alternative to larger models. These smaller models are designed to perform specific tasks efficiently while using fewer resources. Major tech firms, including Google and Microsoft, as well as Indian IT companies like Infosys and Tech Mahindra, are developing SLMs tailored for various industries, such as banking and healthcare.
One of the key advantages of SLMs is their ability to provide similar performance to larger models at a lower cost, making AI technology more accessible to smaller businesses. They can also process data in real-time on devices without needing an internet connection, which is particularly beneficial for handling sensitive information. Experts believe that SLMs can achieve higher accuracy in specific tasks, making them a valuable tool for companies looking to enhance their AI capabilities.
Looking ahead, the future of AI may involve a combination of both small and large models, allowing businesses to leverage the strengths of each. This hybrid approach could lead to more efficient and adaptable AI systems that meet the diverse needs of various industries while addressing concerns related to cost and data privacy.
