I’m wondering if there is a consensus on this one. I see many companies have AI in their name and call themselves AI companies, but when I look into how their product works, it is mostly just making API calls and prompt engineering. Is this what an “AI company” is?
And as a follow up question, what would you call a company that was training original ML models (not even just LLMs)? Is that also an “AI” company and if so, should we draw a distinction?
That's an interesting question and initially I read it as the common critique I hear: are AI wrapper companies, actual companies? And my answer is yes, as long as you provide value and someone is paying you are a company.
Now, are they "AI" companies? I'm leaning towards no. It depends on how much AI you are doing. If you provide a nice UI with just an API call to get the answer, then no. If you do your own embedding, vector DB querrying, re-ranking, not sure, but still leaning no. But if you start optimizing your embedding model, maybe play with fine-tuning LLMs, then yes.
It's not black and white and you can't blame startups for trying to appear bigger than they are.