Fine-Tuned 'Small' LLMs (Still) Significantly Outperform Zero-Shot Generative AI Models in Text Classification
<|reference_start|>Fine-Tuned 'Small' LLMs (Still) Significantly Outperform Zero-Shot Generative AI Models in Text Classification: Generative AI offers a simple, prompt-based alternative to fine-tuning smaller BERT-style LLMs for text classification tasks. This promises to eliminate the need for manually labeled training data and task-specific model training. However, it remains an open question whether tools like ChatGPT can deliver on this promise. In this paper, we show that smaller, fine-tuned LLMs (still) consistently and significantly outperform larger, zero-shot prompted models in text classification. We compare three major generative AI models (ChatGPT with GPT-3.5/GPT-4 and Claude Opus) with several fine-tuned LLMs across a diverse set of classification tasks (sentiment, approval/disapproval, emotions, party positions) and text categories (news, tweets, speeches). We find that fine-tuning with application-specific training data achieves superior performance in all cases. To make this approach more accessible to a broader audience, we provide an easy-to-use toolkit alongside this paper. Our toolkit, accompanied by non-technical step-by-step guidance, enables users to select and fine-tune BERT-like LLMs for any classification task with minimal technical and computational effort.<|reference_end|>
@article{bucher2024fine-tuned,
    title={Fine-Tuned 'Small' LLMs (Still) Significantly Outperform Zero-Shot
  Generative AI Models in Text Classification},
    author={Martin Juan Jos'e Bucher, Marco Martini},
    journal={arXiv preprint arXiv:2406.08660},
    year={2024},
    archivePrefix={arXiv},
    eprint={2406.08660},
    primaryClass={cs.CL cs.AI}
}