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Prompt

I'd be interested in picking up on your last point about LLM usage among businesses being a growing trend. Is there any data on when businesses began using LLMs? When did they begin picking up mainstream traction among consumers? And is there any specific data on growth volumes?

Output

Based on the search results and your specific questions, I can provide some insights on the adoption and growth of LLMs in business:

  1. When businesses began using LLMs: The search results don't provide a specific date when businesses started using LLMs. However, we can infer that significant business adoption began around late 2022 and early 2023. This is evidenced by:

  2. The launch of ChatGPT in November 2022, which "quickly grabbed attention from the public and business professionals" [3].

  3. The introduction of GPT-4 in March 2023, which "impressed industry leaders with its expanded and disciplined applications to specific industries" [3].

  4. Mainstream traction among consumers: ChatGPT is mentioned as "setting a record as the fastest-growing internet app in history" [3], indicating rapid mainstream adoption. While an exact date isn't provided, this likely occurred in late 2022 or early 2023 following its November 2022 launch.

  5. Growth volumes and data: Several statistics highlight the growth and adoption of LLMs:

  6. Market size: "The global large language model market size was estimated at USD 4.35 billion in 2023" [1].

  7. Projected growth: The market "is projected to grow at a compound annual growth rate (CAGR) of 35.9% from 2024 to 2030 to reach USD 35.43 billion by 2030" [1].
  8. Regional dominance: "North America dominated the large language model market with a share of 31.9% in 2023" [1].
  9. Business adoption: "One-third of businesses are using GenAI regularly in at least one business function, while 25% of enterprises using AI say GenAI is already on their boards' agendas" [4].
  10. Enterprise expenditure: "Enterprise expenditure on GenAI solutions is projected to reach US$151.1 billion in 2027 with a CAGR of 86.1% from 2023-2027" [4].
  11. Company usage: "Almost 67% of organizations use generative AI products that rely on LLMs to work with human language and produce content" [5].
  12. Experimentation vs. deployment: "While 58% of companies work with LLMs, in most cases, they're just experimenting. Only 23% of respondents planned to deploy commercial models or have already done so" [5].

These statistics indicate that while LLM adoption in business is growing rapidly, it's still in the early stages, with many companies experimenting rather than fully deploying LLMs in their operations. The market is expected to see significant growth in the coming years, driven by increasing adoption across various industries.

Extracted Prompts

Prompts/LLM usage among businesses - stats.md#Prompt 1

The above text was generated by a large language model (LLM) and its accuracy has not been validated. This page is part of 'LLMs-on-LLMs,' a Github repository by Daniel Rosehill which explores how curious humans can use LLMs to better their understanding of LLMs and AI. However, the information should not be regarded as authoritative and given the fast pace of evolution in LLM technology will eventually become deprecated. This footer was added at 16-Nov-2024.