Smaller language models can be based on a billion parameters or less—still pretty large, but much smaller than foundational LLMs like ChatGPT and Bard. Businesses are keen to unlock the power of generative AI, and yet large language models like ChatGPT present obvious challenges for corporate use. A study this month found that 75% of organizations are considering or have implemented bans on generative AI applications, citing security, privacy, and other concerns.