Reopening AI

As our Digital Innovations strategy team discusses in their recent white paper, Investing in AI:Everything, everywhere, and all at once, there has been a Cambrian explosion in AI model development. Although OpenAI’s ChatGPT was among the first to market, they are no longer alone. According to Stanford University’s 2024 AI Index report, 149 new foundation models were released in 2023, more than double the prior year. Notably, two-thirds of new models were open-sourced versus 44% in 2020. Moreover, an analysis of published Massive Multi-task Language Understanding (MMLU) scores compiled by CB-Insights demonstrates that open-source models are gaining on well-funded private models.

Source: CB Insights, April 2024