Impact of Large Language Model on Indian economy

Abstract

This research study investigates the influence of Large Language Models (LLMs) on the Indian economy, thoroughly examining the probable benefits and inherent drawbacks of incorporating these advanced AI technologies. As illustrated by models such as GPT-3, ChatGPT, and others, LLMs have grown in popularity in various industries, including education, IT services, healthcare, and customer support, particularly in linguistically varied nations such as India. The article highlights LLMs' significant role in market expansion, linguistic and cultural heritage promotion, and cross-sector applications in India, commenting on their potential to stimulate innovation, create new job opportunities, and enhance skills across multiple industries. Yet, it also tackles important issues like the displacement of workers, the digital divide, security risks, and ethical dilemmas. These difficulties highlight the necessity of practicing caution when implementing LLMs to guarantee that they enhance the socio-economic environment. The study attempts to present a fair analysis, considering both the transformative capacity of LLMs and the demand for responsible management of their impact on India's economy, society, and workforce.