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Small Language Model Market Size to Grow USD 17180 Million by 2029 at a CAGR of 17.8% | Valuates Reports
Small Language Model MarketSmall Language Model market is projected to reach US$ 17180 million in 2029, increasing from US$ 5180 million in 2022, with the CAGR of 17.8% during the period of 2023 to 2029.
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The definition of small language model is relative to large language model. It usually refers to a language model with smaller scale and fewer parameters. These models often perform better in a specific domain or task, but may not be able to handle a wide range of natural language tasks as well as large language models.
Small language models can be combined with other technologies such as natural language processing, machine learning, etc. to further improve their performance and efficiency. For example, natural language processing techniques can be used to pre- and post-process input text to improve the accuracy of the model.
By Type
• Below 5 Billion Parameters
• Above 5 Billion Parameters
By Application
• Artificial Intelligence Training
• Chatbots and Virtual Assistants
• Content Generation
• Language Translation
• Code Development
• Medical Diagnosis and Treatment
• Education
Key Players
Llama 2 (Meta AI), Phi2 (Microsoft), Orca (Microsoft), Stable Beluga 7B (Meta AI), X Gen (Salesforce AI), Qwen (Alibaba), Alpaca 7B (Meta), MPT (Mosaic ML), Falcon 7B (Technology Innovation Institute (TII) from the UAE), Zephyr (Hugging Face)
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Similar Reports:
1. https://reports.valuates.com/market-reports/QYRE-Auto-30B13652/global-large-language-model-llm
2. https://reports.valuates.com/market-reports/QYRE-Auto-33N13947/global-ai-content-generation
3. https://reports.valuates.com/market-reports/ALLI-Manu-0E89/generative-ai
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