  In the realm of artificial intelligence, where a vast majority of data is
unstructured, obtaining substantial amounts of labeled data to train supervised
machine learning models poses a significant challenge. To address this, we
delve into few-shot and active learning, where are goal is to improve AI models
with human feedback on a few labeled examples. This paper focuses on
understanding how a continuous feedback loop can refine models, thereby
enhancing their accuracy, recall, and precision through incremental human
input. By employing Large Language Models (LLMs) such as GPT-3.5, BERT, and
SetFit, we aim to analyze the efficacy of using a limited number of labeled
examples to substantially improve model accuracy. We benchmark this approach on
the Financial Phrasebank, Banking, Craigslist, Trec, Amazon Reviews datasets to
prove that with just a few labeled examples, we are able to surpass the
accuracy of zero shot large language models to provide enhanced text
classification performance. We demonstrate that rather than needing to manually
label millions of rows of data, we just need to label a few and the model can
effectively predict the rest.
