Large Language Model
Also called LLM and Foundation Model
An AI model trained on very large amounts of text to predict what comes next in a sequence, which lets it write, summarise, translate, answer questions and generate code. It is the engine behind assistants such as ChatGPT, Claude and Gemini.
Why it matters
Most new software products now use a language model somewhere, usually rented from a provider through an API rather than built. Knowing what they do well, what they get wrong (they can state false things confidently), and what each call costs shapes what you can build and what your margins look like.
For example
A legal-tech startup sends contracts to a language model through an API to draft a first summary, then has a lawyer check every summary before it goes to a client.
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Also in Starting Up
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