Large language models are AI models trained on vast amounts of text data, learning patterns and generating human-like text, answering questions, summarizing text, and more. These models can understand multiple phrases and topics, helping businesses explore abundant interactions with transcripts to gather valuable insights. The Speechmatics team has been exploring summarization across multiple transcripts, gathering key takeaways, action items, company blockers, and broader themes, and is discussing hosting open-source language model on premises to solve security issues. LLMs offer numerous opportunities across industries, including media, EdTech, and calls, with use cases such as content creation, advanced archiving, robust monitoring, extracting course content from audio, faster note-taking/revision, summarizing outcomes, extracting resolutions, highlighting outstanding issues, and more. The future of LLMs holds immense potential for driving substantial gains in businesses, with Speechmatics well-positioned to support customers in leveraging these capabilities.