Foundation models are a category of artificial intelligence that perform a variety of tasks, including text, image, and audio generation, with examples like GPT-3 and GPT-4 serving as foundational frameworks. They can be classified into language models, vision models, multimodal models, and domain-specific models, each tailored for specific applications. As integral tools in AI and NLP, foundation models are expected to play a crucial role in shaping the future of technology.