A new AI-powered smart guide for business planning and entrepreneurship has emerged, leveraging Retrieval Augment Generation (RAG) methods to overcome the limitations of traditional Large Language Models (LLMs). Initially, LLMs like ChatGPT faced challenges with hallucination, outdated knowledge, and lack of personalization. RAG, first conceptualized in 2020 by researchers from Meta AI, integrates external data to enhance LLM capabilities, allowing for more accurate and context-specific responses. Since its introduction, RAG has evolved, now boasting an 80% accuracy improvement in handling multimodal data. This advancement not only refines the precision of AI responses but also broadens its application scope, making it an invaluable tool for entrepreneurs seeking tailored business insights.
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