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Utilizing Large Language Models to Boost Innovative Research and Development in Enterprises

In: Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024)

Author

Listed:
  • Jinqi Chu

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Yongjin Zhang

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Chongxiao Qu

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Changjun Fan

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Guiwu Xie

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Shuo Liu

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

  • Lixian Yu

    (The 52Nd Research Institute of China Electronics Technology Group Corporation)

Abstract

With the advancement of large language models like ChatGPT, harnessing these technologies for fostering innovation and research & development (R&D) has emerged as an important exploratory practice for enterprises. This paper offers an in-depth analysis of the extensive applications of large language models within the sphere of corporate innovation and R&D, highlighting their remarkable capabilities in facilitating knowledge acquisition, enhancing emotional comprehension, generating creative ideas, and boosting the efficiency of R&D teams. Additionally, the paper discusses certain limitations associated with large language models, including challenges in assessing the reliability of generated content and a deficiency in domain-specific knowledge. Building on these insights, we advocate for enterprises to adopt a hybrid approach, integrating human expertise with large language models to maximize the collaborative benefits. Through comprehensive analysis and discussion, this paper aims to provide substantial guidance and reference for effectively applying large language models in innovative R&D, which makes it a valuable experience for enterprises exploring this cutting-edge domain.

Suggested Citation

  • Jinqi Chu & Yongjin Zhang & Chongxiao Qu & Changjun Fan & Guiwu Xie & Shuo Liu & Lixian Yu, 2024. "Utilizing Large Language Models to Boost Innovative Research and Development in Enterprises," Advances in Economics, Business and Management Research, in: Hongbing Cheng & Sikandar Ali Qalati & Noor Sharoja Binti Sapiei & Mazni Binti Abdullah (ed.), Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024), pages 392-400, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-506-5_43
    DOI: 10.2991/978-94-6463-506-5_43
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