After studying mathematics, business administration and economics, Wilhelm Niehoff (graduate mathematician) worked for several years in research and teaching on probability theory, mathematical statistics and information theory. At the Association of German Banks, he worked in numerous banking committees on the standardisation of digital business, on legislative measures in Europe, in particular as project manager for the introduction of euro book money. He then moved to Hypovereinsbank/UniCredit via cross-bank initiatives in Germany to take over the project management for the bank in a global e-business project. At the bank, he dealt with technological innovations and payment transactions and implemented regulatory projects as project manager, including the group-wide MiFID project, before joining the management board of Bank-Verlag from mid-2007, from 2010 to the end of 2022 as spokesman for the management board. Since the beginning of 2023, he has dedicated himself to highly innovative topics and their impact on banking business models at synscale GmbH, which he founded himself. His current focus is on artificial intelligence methods, in particular foundation models, large language models and generative AI.

Large Language Models: Origin-Use-Further Development

Large language models (LLMs) have made a quantum leap in the field of natural language processing (NLP) over the last five years, both in terms of understanding (natural language understanding, NLU) and generation (natural language generation, NLG) in the development of communication with computers. With ChatGPT, the general public has also become aware of this. The possible uses in companies are beginning to become more and more relevant. A small series of articles will describe the emergence, integration possibilities in processes and effects of LLMs. In this article, the history of the development of LLMs up to their current status will be outlined, with the aim of presenting strengths, weaknesses and manifestations in the next article on this basis.

Continue reading »