The AI hype train is going full swing. At this point, it is hard to name an industry not affected by this disruptive technology. Startups feel these hype waves like no one else as the inventors’ demands rise and competition grows.
It’s becoming increasingly challenging for startups to raise investment without some AI element in their product. So far, ChatGPT integration — relatively easy, affordable, and fast — has been sufficient to keep up with the race and capture a market share. But it looks like this will no longer be the case.
Soon enough, making a statement will take more than just plugging in an open source model.
Venture capitalists are already stressing the importance of adding value for startups, not just using a ChatGPT API.
Okay, but how do we provide this added value?
As CEO of a product development business, I’ve been consulting clients on AI integration solutions and bringing more value to their apps. I’ll explain and share tips on delivering additional value to an AI-driven product by fine-tuning open foundational models.
Why simply adopting a foundational model is no longer an advantage
With the dynamic rise of AI, winning an investment is challenging for startups void of AI involvement. This has led to the influx of “ChatGPT wrappers” — apps parasitizing on the foundation model and bringing null value regarding technological novelty or user flow. VCs are already overwhelmed with the inflow of “ChatGPT for X” startups, labeling them as solutions unlikely to survive in a year or two.
Venture capitalists are already stressing the importance of adding value for startups, not just using a ChatGPT API.
Yet, neglecting to take advantage of the AI race may be a strategizing mistake. To get success, you need to be a step ahead of the game, offering a value-added technology that augments foundation models and provides competitive advantages. Fine-tuning an AI model using collected or synthetic data can deliver a competitive advantage to your startup.
How to deliver added value to your AI-based startup via fine-tuning
When seeking how to involve AI in your product, there are a few ways to go. Here are the main ones: