No offense, but isn't the NLP field effectively solved with the creation of LLMs, or at least for the majority of the tasks you would expect from an NLP application? I am sure you can find some special areas or niches where traditional NLP approaches would outcompete a black box like LLMs. But with the LLMs becoming much more efficient now after quantization to the point you can run them locally, I think there is a g…
The downsides are (a) latency, (b) cost, and (c) the need for specialized training. In some applications, you require near real-time responses, and smaller models are still better here. The cost angle is a little tricky - it depends both on the volume of calls you want to make and if this cost translates into revenue for the possibly incremental benefit you derive from an LLM. As an example, lets say you have a chatbot that does NER/slot-filling using a spacy or stanza today, and lets also assume ChatGPT can do better - does the incremental accuracy, that comes at a cost since you're paying OpenAI - translate into incremental revenue (or profit)? I am not sure what the answer here is - its probably a NO right now, but there is a positive deferred benefit - as your chatbot solution becomes better in many small and large ways, it might sell better in the future. The specialized training part is when you can gather a use-case-specific dataset that can get a fairly good accuracy (comparable or greater than an LLM), esp. considering (a) and (b). Note that these concerns are largely true even for self-hosted LLMs like llama - just that the precise breakeven point changes.