The hype surrounding artificial intelligence (AI) has taken the business world by storm. Its disruptive capabilities are affecting every industry, and startups are feeling the pressure to incorporate AI into their products to stay competitive. While integrating ChatGPT has been a quick and affordable solution for startups, it is no longer enough to secure investment or gain a significant market share.
Startups must move beyond the basic integration of ChatGPT and find ways to deliver unique and innovative AI solutions to attract investment and stand out in the market.
The Need for Value-added AI Solutions
Venture capitalists are now emphasizing the importance of startups providing value through AI, rather than simply relying on a ChatGPT API. The days of plugging in a pre-existing model and expecting success are behind us. Startups must now find ways to deliver added value to their AI-driven products.
The Downside of Adopting Foundational Models
As AI continues to gain momentum, startups without a strong AI focus find it challenging to secure investment. In response, many startups have resorted to becoming “ChatGPT wrappers” – relying solely on the foundation model without adding any significant technological novelty or user value. Venture capitalists are inundated with these types of startups and are skeptical of their long-term viability.
However, completely disregarding the AI trend could be a strategic mistake. To succeed in today’s competitive landscape, startups need to go beyond the basics and offer AI technologies that enhance foundational models and provide a competitive edge. One way to achieve this is through the fine-tuning of AI models using real or synthetic data.
Delivering Added Value through Fine-tuning
When deciding to incorporate AI into your startup, there are several approaches you can take. Here are the main ones:
- Fine-tuning with Real Data: Collecting real user data and using it to train your AI model can help create a more tailored and personalized experience for your users. This approach allows you to refine the model’s predictions and improve its accuracy.
- Fine-tuning with Synthetic Data: In cases where real user data is limited or not available, startups can leverage synthetic data to train their AI models. Synthetic data generation can provide diverse and augmented data sets to enhance the model’s performance.
- Domain-specific Fine-tuning: Tailoring your AI model to specific industries or domains can greatly increase its value. By training the model on domain-specific data, startups can provide more accurate and relevant insights, making their solution more valuable to potential customers.
By exploring these fine-tuning approaches, startups can differentiate themselves from the flood of “ChatGPT for X” solutions and offer unique AI-driven products that provide tangible value to both users and investors.