IBM Big Data Hub

SEPTEMBER 27, 2023

Large language models (LLMs) are foundation models that use artificial intelligence (AI), deep learning and massive data sets, including websites, articles and books, to generate text, translate between languages and write many types of content. What are the benefits of open source LLMs?

Risk 91

Risk Modeling Cost-Benefit Enterprise 91

IBM Big Data Hub

SEPTEMBER 12, 2023

The UK government’s Ecosystem of Trust is a potential future border model for frictionless trade, which the UK government committed to pilot testing from October 2022 to March 2023. The models also reduce private sector customs data collection costs by 40%.

Testing 83

Testing Modeling Cost-Benefit Consulting 83

CIO Business Intelligence

NOVEMBER 19, 2024

Data privacy and compliance issues Failing: Mismanagement of internal data with external models can lead to privacy breaches and non-compliance with regulations. Bias and hallucinations Failing: GenAI models often produce biased or inaccurate outputs, leading to misinformation and potential legal issues.

Consulting 126

Consulting Cost-Benefit Experimentation Optimization 126

erwin

MAY 2, 2022

How to create a solid foundation for data modeling of OLTP systems. As you undertake a cloud database migration , a best practice is to perform data modeling as the foundation for well-designed OLTP databases. This makes mastering basic data modeling techniques and avoiding common pitfalls imperative. Data modeling basics.

Modeling 98

Modeling Insurance Cost-Benefit Data Warehouse 98

IBM Big Data Hub

APRIL 26, 2024

As large language models (LLMs) have entered the common vernacular, people have discovered how to use apps that access them. However, there are smaller models that have the potential to innovate gen AI capabilities on mobile devices. Let’s examine these solutions from the perspective of a hybrid AI model.

Modeling 83

Modeling Data Processing Cost-Benefit Manufacturing 83

CIO Business Intelligence

SEPTEMBER 25, 2023

To do so, Nardecchia and his team sought to incorporate “digital threads” into the company’s hardware and thereby expand its business model beyond manufacturing into software-as-a-service. “We We knew we had to reinvent ourselves and that our business model wasn’t going to be sustained with so many companies moving to software as a service.

Modeling 105

Modeling Manufacturing Digital Transformation Cost-Benefit 105

Timo Elliott

FEBRUARY 8, 2023

New cloud platform technologies have unleashed new opportunities for business model innovation. There are already over 1,000 ventilation systems already using the platform, with benefits of up to 40% energy savings (with corresponding cost and CO2 savings, depending on the source energy used).

Modeling 98

Modeling Cost-Benefit Optimization Machine Learning 98

BA Learnings

SEPTEMBER 26, 2020

According to a study conducted by IBM in 2012, companies that perform well tend to innovate their business models quite frequently, compared to underperformers. Failing to adjust one’s business model to suit the ever-dynamic business environment can threaten and diminish the longevity of any business.

Modeling 130

Modeling Cost-Benefit Strategy Technology 130

BA Learnings

SEPTEMBER 26, 2020

According to a study conducted by IBM in 2012, companies that perform well tend to innovate their business models quite frequently, compared to underperformers. Failing to adjust one’s business model to suit the ever-dynamic business environment can threaten and diminish the longevity of any business.

Modeling 130

Modeling Cost-Benefit Strategy Technology 130

CIO Business Intelligence

OCTOBER 23, 2024

CIOs are under increasing pressure to deliver meaningful returns from generative AI initiatives, yet spiraling costs and complex governance challenges are undermining their efforts, according to Gartner. hours per week by integrating generative AI into their workflows, these benefits are not felt equally across the workforce.

Enterprise 141

Enterprise Cost-Benefit Broadcasting Risk 141

CIO Business Intelligence

OCTOBER 16, 2024

As gen AI becomes embedded into more devices, endowing it with autonomous decision-making will depend on real-time data and avoiding excessive cloud costs. By processing data closer to the source, edge computing can enable quicker decisions and reduce costs by minimizing data transfers, making it an alluring environment for AI.

Cost-Benefit 143

Cost-Benefit Manufacturing Data-driven Optimization 143

CIO Business Intelligence

SEPTEMBER 20, 2023

With the new strategy, instead of implementing corporate assets in countries so they’re managed locally, what we want, through the cloud model, is to develop an asset as a service that countries can use. This change in platform also entails a data governance model and operational changes. The third pillar of our strategy is data.

Modeling 98

Modeling Insurance IT Cost-Benefit 98

CIO Business Intelligence

OCTOBER 4, 2024

Employees who wish to boost their efficiency through AI can benefit not only from upskilling, but also be supported with the right data, applications, and collaboration tools. Reduce costs : Organizations can see long-term cost savings by investing in technology that boosts workplace productivity and reduces labor costs.

Cost-Benefit 128

Cost-Benefit Risk Optimization Machine Learning 128

CIO Business Intelligence

AUGUST 4, 2022

Many companies that begin their AI projects in the cloud often reach a point when cost and time variables become issues. That’s typically due to the exponential growth in dataset size and complexity of AI models. “In But as models and datasets grow, there’s a stifling effect associated with the escalating compute cost and time. “But

Modeling 97

Modeling Cost-Benefit ROI Data Lake 97

CIO Business Intelligence

NOVEMBER 12, 2024

It’s unsurprising to see legacy providers shifting their business models from perpetual software licensing to subscription-based pricing. Even those paying attention back then have been hit with what they consider even more egregious changes, and some are citing licensing cost increases of 300% or more.

Software 105

Software Cost-Benefit Modeling Sales 105

Smart Data Collective

MARCH 3, 2023

Then, you make adjustments based on what’s working within your business model— and what isn’t. It’s important to get an objective look at where there are shortcomings in your business model. Here’s what you need to know about using data to improve your business model and boost your company’s growth.

Modeling 88

Modeling Cost-Benefit Software Data Collection 88

CIO Business Intelligence

JULY 18, 2024

“It’s very reminiscent of the early days of cloud when it was ‘weapons-free’ on spending with everyone trying to implement cloud — and now genAI — everywhere but with little to no cost control or governance,” he says. We’ve already seen the cost of AI really start to negatively impact cloud budgets,” he says. “In

Cost-Benefit 136

Cost-Benefit Experimentation Consulting Modeling 136

CIO Business Intelligence

JULY 11, 2024

Across the board, concerns around security, response accuracy, and costs have forced most businesses to slow down their planned initiatives and be more strategic about the balance between cost and benefit,” Lucidworks said in a statement. On the other hand, open-source models may allow more customization for specific needs.

Manufacturing 124

Manufacturing Cost-Benefit Data Quality Modeling 124

CIO Business Intelligence

AUGUST 9, 2024

Companies eager to harness these benefits can leverage ready-made, budget-friendly models and customize them with proprietary business data to quickly tap into the power of AI. But first, they need to consider where it fits in their organization, which processes will benefit the most, whether to buy or build it, and what it’ll cost.

Cost-Benefit 140

Cost-Benefit Data Governance Interactive Modeling 140

CIO Business Intelligence

NOVEMBER 19, 2024

From obscurity to ubiquity, the rise of large language models (LLMs) is a testament to rapid technological advancement. Just a few short years ago, models like GPT-1 (2018) and GPT-2 (2019) barely registered a blip on anyone’s tech radar. That will help us achieve short-term benefits as we continue to learn and build better solutions.

Testing 122

Testing Cost-Benefit Interactive ROI 122

CIO Business Intelligence

JULY 5, 2024

The landscape of data center infrastructure is shifting dramatically, influenced by recent licensing changes from Broadcom that are driving up costs and prompting enterprises to reevaluate their virtualization strategies. Clients are seeing increased costs with on-premises virtualization with Broadcom’s acquisition of VMware.

Cost-Benefit 124

Cost-Benefit Data Processing Reporting Enterprise 124

DataRobot Blog

MAY 10, 2022

Addressing the Key Mandates of a Modern Model Risk Management Framework (MRM) When Leveraging Machine Learning . The regulatory guidance presented in these documents laid the foundation for evaluating and managing model risk for financial institutions across the United States.

Risk 64

Risk Modeling Machine Learning Data Quality 64

CIO Business Intelligence

AUGUST 16, 2023

ChatGPT is capable of doing many of these tasks, but the custom support chatbot is using another model called text-embedding-ada-002, another generative AI model from OpenAI, specifically designed to work with embeddings—a type of database specifically designed to feed data into large language models (LLM).

Modeling 98

Modeling Enterprise Cost-Benefit Data Science 98

CIO Business Intelligence

AUGUST 8, 2024

Gen AI offers many opportunities to spend too much and get too little in return when, instead, companies can use their gen AI budgets more strategically, allowing them to reap more benefits from investments and pull ahead of their competitors. Last year, only 3% of respondents said that gen AI implementation cost was a concern.

Cost-Benefit 140

Cost-Benefit Modeling Consulting Enterprise 140

CIO Business Intelligence

OCTOBER 23, 2024

But it did talk about cost implications, and implied that CIOs would be better off using the vendor’s systems, even with the Big Blue markup. There is a cost arbitrage and a quality play that can be built into a well-structured managed services deal,” Schadler said. “As It creates stickiness if nothing else.

Consulting 122

Consulting Strategy Cost-Benefit Modeling 122

CIO Business Intelligence

AUGUST 20, 2024

Many AI projects have huge upfront costs — up to $200,000 for coding assistants, $1 million to embed generative AI in custom apps, $6.5 million to fine-tune gen AI models, and $20 million to build custom models from scratch, according to recent estimates from Gartner. SMBs are particularly vulnerable to these cost increases.”

Risk 131

Risk Cost-Benefit Insurance ROI 131

CIO Business Intelligence

AUGUST 8, 2023

billion through this model, which enhances efficiency and slashes labor costs by reducing the number of touchpoints. The business team wanted to introduce new concepts and try out new business models and this device became a bottleneck for all those ideas,” he says. “The

Modeling 98

Modeling IT Sales Cost-Benefit 98

erwin

JANUARY 9, 2020

For decades, data modeling has been the optimal way to design and deploy new relational databases with high-quality data sources and support application development. Today’s data modeling is not your father’s data modeling software. So here’s why data modeling is so critical to data governance.

Data Governance 144

Data Governance Modeling Metadata Unstructured Data 144

CIO Business Intelligence

OCTOBER 23, 2024

The reality of what can be accomplished with current GenAI models, and the state of CIO’s data will not meet today’s lofty expectations.” But not all employees get the same degree of benefit from using GenAI. In fact, Gartner believes that cost is as big an AI risk as security or hallucinations.

Enterprise 135

Enterprise IT Cost-Benefit Measurement 135

CIO Business Intelligence

AUGUST 30, 2024

As an IT leader, deciding what models and applications to run, as well as how and where, are critical decisions. History suggests hyperscalers, which give away basic LLMs while licensing subscriptions for more powerful models with enterprise-grade features, will find more ways to pass along the immense costs of their buildouts to businesses.

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Uncertainty Marketing Cost-Benefit Risk 122

CIO Business Intelligence

AUGUST 14, 2024

It’s embedded in the applications we use every day and the security model overall is pretty airtight. The cost of OpenAI is the same whether you buy it directly or through Azure. Its model catalog has over 1,600 options, some of which are also available through GitHub Models. That’s risky.”

Enterprise 136

Enterprise Cost-Benefit Experimentation Modeling 136

Smart Data Collective

AUGUST 4, 2022

There are many benefits of leveraging analytics in healthcare. Hospitals and individual healthcare providers are using analytics tools to predict the likelihood a patient will develop a disease, minimize medical error rates, reduce costs of delivering treatment and provide a better overall patient experience.

Data-driven 121

Data-driven Modeling Cost-Benefit Insurance 121

CIO Business Intelligence

NOVEMBER 11, 2024

Nate Melby, CIO of Dairyland Power Cooperative, says the Midwestern utility has been churning out large language models (LLMs) that not only automate document summarization but also help manage power grids during storms, for example. Only 13% plan to build a model from scratch.

ROI 136

ROI Cost-Benefit Experimentation Risk 136

IBM Big Data Hub

AUGUST 1, 2023

True to their name, generative AI models generate text, images, code , or other responses based on a user’s prompt. Organizations that utilize them correctly can see a myriad of benefits—from increased operational efficiency and improved decision-making to the rapid creation of marketing content.

Modeling 55

Modeling Cost-Benefit Machine Learning Data Lake 55

CIO Business Intelligence

OCTOBER 29, 2024

As research suggests, the potential benefits of generative AI (genAI) adoption far outweigh the challenges, making it imperative for businesses to adopt a strategic approach toward scaling their AI implementation while observing guidelines for ESG compliance. Training a single AI model emits as much as five average cars over their lifetimes.

Enterprise 119

Enterprise Cost-Benefit Metrics Strategy 119

Cloudera

NOVEMBER 13, 2024

Large Language Models (LLMs) will be at the core of many groundbreaking AI solutions for enterprise organizations. Here are just a few examples of the benefits of using LLMs in the enterprise for both internal and external use cases: Optimize Costs. The Need for Fine Tuning Fine tuning solves these issues.

Cost-Benefit 61

Cost-Benefit Data Processing Testing Machine Learning 61