Quote
M. Sterner and E. Wingerter, "The value creation process of AI base models," Business Studies and Competition, no. 4, pp. 203-207, 2026.
Content
The advancing development of artificial intelligence
(AI) has the potential to change value creation processes, business
business models and market structures in Business Studies
than the transformations previously known from economic history
transformations known from economic history, such as the
the steam engine, electricity or the internet.
At the center of the AI-induced changes are the so-called
Foundation Models (FM), also known in German-speaking countries
also referred to as foundation models or AI foundation models. They have
potential to become the digital powerhouses of the 21st century.
to develop. The competition authorities are therefore working
are working intensively to ensure that competition between
between their providers works. For a better understanding
of this competition, this article provides an overview of
FM and its value creation process from a microeconomic
perspective.