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What are best practices for Open-Source vs Proprietary LLMs

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Answer

When working with Open-Source vs Proprietary LLMs, start with a clear goal, test on real data early, keep the approach as simple as possible at first, and follow established practices from the AI community rather than guessing.
Real-world example A startup may choose an open source LLM to run on its own servers for more control over cost and data privacy.

Common follow-ups: What is Large Language Models (LLMs), How is Open-Source vs Proprietary LLMs evaluated in practice, What tools are commonly used for Open-Source vs Proprietary LLMs