The luxury goods magnate outpaces AI investors through brand power.
Bernard Arnault of LVMH is currently the richest person in the world, not someone who invested in AI or data but in a brand moat. Stickiness or brand moat is achieved when customers are loyal due to the brand’s reputation, user experience, or network effects. That might be the reason to be hopeful for ChatGPT. As Ben Thompson wrote, ChatGPT became the Accidental Consumer Tech Company. If OpenAI keeps ChatGPT sticky, then they might be onto something.
— What Is The Competitive Advantage Of LLMs Like ChatGPT For Your Business? Three Takeaways. · Forbes