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