Firms that employ large language models (LLMs) can create significant value and achieve sustainable competitive advantage. However, the decision of whether to make-or-buy LLMs is a complex one and should be informed by consideration of the following aspects:
- Strategic value
- Customization
- Intellectual property
- Security
- Costs
- Talent
- Legal expertise
- Data
- Trustworthiness
It is also necessary to thoroughly evaluate available open-source and closed-source LLM options, and to understand the advantages and disadvantages of fine-tuning existing models versus pre-training models from scratch.
Authors of the Whitepaper:
- Dr. Paul Yu-Chun Chang, AI Expert Foundation Models-Large Language Models
- Bernhard Pflugfelder, Head of Use Cases and Applications