arXiv:2507.05723v1 Announce Type: cross Abstract: The emergence of Large Language Models (LLMs) with increasingly sophisticated natural language understanding and generative capabilities has sparked interest in the Agent-based Modelling (ABM) community. With their ability to summarize, generate, analyze, categorize, transcribe and translate text, answer questions, propose explanations, sustain dialogue, extract information from unstructured text, and perform logical reasoning and problem-solving tasks, LLMs have a good potential to contribute to the modelling process. After reviewing the current use of LLMs in ABM, this study reflects on the opportunities and challenges of the potential use of LLMs in ABM. It does so by following the modelling cycle, from problem formulation to documentation and communication of model results, and holding a critical stance.