Language Modeling is a subfield of Natural Language Processing (NLP) that focuses on the development of probabilistic models to predict the next word in a sentence, given the words that precede it. It utilizes computational and statistical techniques to generate human-like text based on the provided dataset. It is fundamental to various applications like speech recognition, machine translation, and text generation. Cogniverses are advanced AI models used in Language Modeling to understand, interpret, and produce human language in a contextual manner, thus enabling sophisticated interaction between humans and machines.