A foundation model is a large AI model trained on huge amounts of general data that can then be adapted to many different tasks.
Example
A chat assistant, a translator and a coding helper can all be built from the same foundation model.
For pros
The term comes from a 2021 Stanford report. The EU AI Act's legal counterpart is the “general-purpose AI model” (GPAI model). Foundation models are usually tailored to specific tasks with fine-tuning, RLHF or system instructions.