This document discusses large language models and their potential impact on academic and research libraries. It notes that while the core mission of libraries will remain unchanged, AI is already transforming how libraries operate and will continue to do so. It outlines both current limitations of technologies like large language models as well as potential applications in academia, publishing, and libraries themselves, including for instructional support and developing library applications. The document raises questions about policies libraries have regarding AI/LLMs, their impact so far, staff capacity for educating users, and the potential role of LLMs in libraries in the next five years.