Fine-tuning is a crucial solution to the lack of applicability of large language models (LLMs) to specific domains or workflows. By fine-tuning a pre-trained base LLM on a domain-specific dataset, organizations can improve its performance and make it more useful for their unique requirements. Fine-tuning bridges the gap between generic pre-trained models and specialized generative AI applications. The process involves training the model with a new labeled dataset tailored towards a particular task or domain, adjusting parameters to better perform for the use case or domain, and potentially leveraging human feedback to improve accuracy. Various techniques, such as supervised fine-tuning, transfer learning, few-shot fine-tuning, reinforcement learning from human feedback (RLHF), parameter efficient fine-tuning (PEFT), low-rank adaptation (LoRA), and direct preference optimization (DPO), can be employed to fine-tune LLMs. These methods offer benefits such as improved performance, task or domain-specificity, customization, lower resource consumption, and enhanced data privacy and security. However, challenges include the potential for catastrophic forgetting, high computational costs, time-intensiveness, and difficulties in sourcing suitable data. As fine-tuning methods continue to evolve, they will push the boundaries of what LLMs are capable of, leading to increased adoption of generative AI and innovation in the field.