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S6 Ep7: AI is reshaping economic research

VoxTalks Economics

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What Are Foundation Models?

The way chat works is you can ask it questions just by typing in a sentence and as long as the question is reasonably structured, it comes back with something that looks good. We'll go into the strengths and weaknesses of what it comes back within a minute. But one thing you brought out in the paper is that something like chat, GPT, is a class of AI called foundation models. Can you explain what they are and why they're important? Yeah, so foundation models are the natural continuation of the deep learning paradigm. And they are essentially very large models models that in their complexity approach the complexity of the human brain.

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