Proprietary data access separates sustainable advantages from temporary ones.
In this new world of foundation models, data access is key. Bring your own data will be a game-changer for this young industry. Bloomberg launched a massive financial LLM only they could have trained because they had proprietary data access. Data moats offer a more sustainable advantage, and exclusive access to proprietary data can be a significant barrier to entry. But data in itself is not helpful, data needs to create value. This contrasts with scraped internet data that anyone can access.
— What Is The Competitive Advantage Of LLMs Like ChatGPT For Your Business? Three Takeaways. · Forbes