CONSIDERATIONS ABOUT USING LARGE LANGUAGE MODELS IN ECONOMICS: OPPORTUNITIES AND IMPLICATIONS
CONSIDERATIONS ABOUT USING LARGE LANGUAGE MODELS IN ECONOMICS: OPPORTUNITIES AND IMPLICATIONS
Author(s): Costel Marian IonașcuSubject(s): Business Economy / Management, Economic development, ICT Information and Communications Technologies
Published by: Editura Universitaria Craiova
Keywords: large language models; machine learning; deep learning; artificial intelligence; economics;
Summary/Abstract: The rapid development of large language models (LLMs) such as generative pre-trained transformers (GPT) have the potential to fundamentally advance many fields, including economics. This paper presents the potential applications of LLMs in economics, highlighting their capabilities and limits in data analysis, forecasting, policy simulation and decision making. The synthetic history of LLMs, the main types and their practical applications in economic research and the ethical considerations encountered in their use are also presented.
Journal: Revista tinerilor economişti
- Issue Year: 2023
- Issue No: 41
- Page Range: 149-157
- Page Count: 9
- Language: English