Language models have revolutionized the field of Natural Language Processing (NLP), and large language models in particular have opened up new avenues for research and applications. In this session, we will explore the key features and underlying mechanisms of large language models, and discuss their implications for NLP research, industry, and society.We will begin by introducing the basic building blocks of large language models and discuss the challenges of training and evaluating large language models, as well as their limitations and potential biases. We will then explore some of the key applications of large language models and the impact of large language models on industries such as healthcare, finance, and entertainment, as well as their potential for use in improving accessibility to information and services for marginalized communities.By the end of this session, participants will have a deeper understanding of the opportunities and challenges of large language models, and a broader awareness of their impact on NLP research, industry, and society.