Describing it as a "next-token predictor" in the sense that this would mean it's fundamentally limited to just a fraction of an inferential step is doubly wrong: 1. In order to select even the first word of a meaningful sentence, it already has to have structure and meaning of what follows captured somewhere inside, mostly in it's weights/activations or indexed by it's state vector. 2. What you see when you use an LL…
Bayesians say that the probabilities represent strength of belief, implying some subjective knowledge or information. It is necessarily subjective in that it requires priors, i.e information the predictor knew before making the prediction. In other words, the LLM has priors from training and is predicting tokens using real knowledge
Frequentists would say that probabilities are simply objective facts - e.g we all agree that the physical property of temperature follows from any molecules matching a particular energy distribution. You’re not predicting anything, there’s just some outcomes that are happening at the expected rate. In other words, the LLM is a stochastic parrot/next token predictor