AI is undergoing a paradigm shift with the rise of models (e.g., BERT, DALL-E, GPT-3) that are trained on broad data at scale and are adaptable to a wide range of downstream tasks. We call these models foundation models to underscore their critically central yet incomplete character. This report provides a thorough account of the opportunities and risks of foundation models, ranging from their capabilities (e.g., language, vision, robotics, reasoning, human interaction) and technical principles (e.g., model architectures, training procedures, data, systems, security, evaluation, theory) to their applications (e.g., law, healthcare, education) and societal impact (e.g., inequity, misuse, economic and environmental impact, legal and ethical considerations). Though foundation models are based on standard deep learning and transfer learning, their scale results in new emergent capabilities, and their effectiveness across so many tasks incentivizes homogenization. Homogenization provides powerful leverage but demands caution, as the defects of the foundation model are inherited by all the adapted models downstream. Despite the impending widespread deployment of foundation models, we currently lack a clear understanding of how they work, when they fail, and what they are even capable of due to their emergent properties. To tackle these questions, we believe much of the critical research on foundation models will require deep interdisciplinary collaboration commensurate with their fundamentally sociotechnical nature.

Replacing static word embeddings with contextualized word representations has yielded significant improvements on many NLP tasks. However, just how contextual are the contextualized representations produced by models such as ELMo and BERT? Are there infinitely many context-specific representations for each word, or are words essentially assigned one of a finite number of word-sense representations? For one, we find that the contextualized representations of all words are not isotropic in any layer of the contextualizing model. While representations of the same word in different contexts still have a greater cosine similarity than those of two different words, this self-similarity is much lower in upper layers. This suggests that upper layers of contextualizing models produce more context-specific representations, much like how upper layers of LSTMs produce more task-specific representations. In all layers of ELMo, BERT, and GPT-2, on average, less than 5% of the variance in a word's contextualized representations can be explained by a static embedding for that word, providing some justification for the success of contextualized representations.

Benchmarks such as GLUE have helped drive advances in NLP by incentivizing the creation of more accurate models. While this leaderboard paradigm has been remarkably successful, a historical focus on performance-based evaluation has been at the expense of other qualities that the NLP community values in models, such as compactness, fairness, and energy efficiency. In this opinion paper, we study the divergence between what is incentivized by leaderboards and what is useful in practice through the lens of microeconomic theory. We frame both the leaderboard and NLP practitioners as consumers and the benefit they get from a model as its utility to them. With this framing, we formalize how leaderboards -in their current form -can be poor proxies for the NLP community at large. For example, a highly inefficient model would provide less utility to practitioners but not to a leaderboard, since it is a cost that only the former must bear. To allow practitioners to better estimate a model's utility to them, we advocate for more transparency on leaderboards, such as the reporting of statistics that are of practical concern (e.g., model size, energy efficiency, and inference latency).

Word embeddings are often criticized for capturing undesirable word associations such as gender stereotypes. However, methods for measuring and removing such biases remain poorly understood. We show that for any embedding model that implicitly does matrix factorization, debiasing vectors post hoc using subspace projection (Bolukbasi et al., 2016) is, under certain conditions, equivalent to training on an unbiased corpus. We also prove that WEAT, the most common association test for word embeddings, systematically overestimates bias. Given that the subspace projection method is provably effective, we use it to derive a new measure of association called the relational inner product association (RIPA). Experiments with RIPA reveal that, on average, skipgram with negative sampling (SGNS) does not make most words any more gendered than they are in the training corpus. However, for gender-stereotyped words, SGNS actually amplifies the gender association in the corpus.

No abstract