10 - Prompt Engineering – Part 3: Types of Prompts

Exploring Zero-Shot, One-Shot, and Few-Shot Prompting Strategies with Real-World Banking Risk Examples In the previous post, we explored the components and characteristics of good prompts — how elements like instruction, context, tone, and format come together to shape the quality of AI responses. Today, we’ll dive deeper into three foundational prompt strategies : Zero- Shot, One- Shot, and Few- Shot Prompting — and understand when, why, and how to use each of them effectively. But before we do that, let’s understand a key concept that powers all three strategies: In- Context Learning . When working with large language models (LLMs), there are typically two major approaches to make them perform well on specific tasks: fine-tuning and in-context learning . Fine-tuning involves modifying the internal weights of a pre-trained model using task-specific data. This process requires large datasets, considerable computing power, and time. It’s a more permanent and resource-intens...