LLM Economics - The Cost of Leveraging Large Language Models

Explore the economic implications of deploying Large Language Models (LLMs) in production environments in this insightful 31-minute conference talk from MLOps World: Machine Learning in Production. Delve into the often-overlooked aspects of cost and maintainability associated with LLM implementation. Gain valuable insights from Nikunj Bajaj, CEO & Cofounder of TrueFoundry, as he breaks down the various expenses involved in developing LLM-based applications. Compare the financial implications of different approaches such as RAG versus fine-tuning, and open-source versus commercial LLMs. Discover eye-opening cost estimates, including the staggering $360,000 price tag for summarizing Wikipedia to half its size using GPT-4's 8k context window. Prepare for the post-honeymoon phase of LLM adoption by understanding the practical realities and economic considerations that will shape the future of AI implementation in production environments.

LLM economics The Cost of leveraging Large Language Models