There is a formal extensional equivalence between Markov chains & LLMs but the only person who seems to be saying anything about this is Gary Marcus. He is constantly making the point that symbolic understanding can not be reduced to a probabilistic computation regardless of how large the graph gets it will still be missing basic stuff like backtracking (which is available in programming languages like Prolog).
I think that Gary is right on basically all counts. Probabilistic generative models are fun but no amount of probabilistic sequence generation can be a substitute for logical reasoning.
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