With the promise of incredible productivity and efficiency boosters, AI tools are set to disrupt almost every global industry. Plus, the scope for investing in innovative, AI-powered technologies is huge in the post-pandemic corporate world. However, without the right in-house AI team or a third-party AI consulting company, a “non-digitized” company may struggle to deploy new AI solutions correctly.
Some key recurring concerns keep businesses away from investing in AI. Here are the main problems that organizations, who want to deploy AI tools face:
Inability to Create Customized AI Implementation Strategies
Investing in AI technology is not like buying a new business software or setting up a new in-house department. Without due diligence, it is impossible to deploy AI tools and use them to their maximum capabilities. Organizations that want to deploy AI solutions must take important “due diligence” steps such as:
- Setting up “pilot projects” to determine how AI solutions will help different business departments.
- Training employees on how to use AI tools in their day-to-day operations.
- Estimating the ROI on AI investments.
Believe it or not, many firms will recruit data engineers and merely hope that they will make their firms ‘AI-ready’. Without a customized AI implementation strategy, it is impossible to determine whether specific AI transformations are suitable for an organization.
Inability to Derive Tangible Business Value from the AI Tools
If you are stepping into the AI implementation process without well-defined business objectives, you are setting yourself up for failure. Measurable AI objectives will help companies deliver measurable results.
For example, Berkshire Hathaway recently invested in an AI tool to automate underwriting procedures for the company’s insurance policyholders. The AI tool has one objective – reduce the number of time that underwriters spend in finding, amassing, and systematizing client data. It is not working towards multiple, poorly-defined goals.
This example illustrates that AI-powered tools can put customer data to work, as long as your company has well-defined objectives. Unfortunately, many firms do not know how AI tools can help their bottom lines. Consequently, the key stakeholders in such companies are always apprehensive about funding innovative AI technologies and solutions.
Non-Technical Employees Not Prepared for AI-Backed Technologies
The lack of AI know-how is probably the biggest roadblock for widespread AI adoption. Efficient AI implementation is only possible when the workforce of a company is well-versed in current AI technologies. An AI-educated workforce is also likelier to understand the possibilities and limitations of AI tools and set suitable AI objectives.
How can companies solve this problem of non-technical employees? The obvious solution is hiring in-house AI experts. In-house AI experts can help companies set clear AI-related objectives and manage commercial expectations. Unfortunately, hiring AI experts sounds easy only on paper which leads us to the next problem.
Shortage of AI Experts
Businesses are struggling to recruit top AI talent. This shortage of AI experts will keep getting worse, according to Deloitte, unless your company is part of the FAAMG group – Facebook, Amazon, Apple, Microsoft, or Google. Developing successful AI solutions is impossible without technically proficient workers.
Outsourcing to AI Consultants – The Only Solution?
If you are a CEO and your employees lack the technical savoir-faire essential for AI adoption, partnering with an AI consulting company can help. The number of good AI experts in the market is very limited. Why not work with AI consultants who are ready to offer their services for short-term contracts?
After all, even attempting to build an in-house AI team comes with various risks. You can not possibly know whether the professionals you recruit will deliver top-quality AI solutions. Plus, small and medium-scale enterprises do not have the budget to set up dedicated, in-house AI teams.
Instead of falling short on the idea of AI adoption due to limited budgets/resources, partner with third-party AI experts. AI implementation requires highly strategic approaches. From setting clear objectives to recognizing KPIs to tracking ROIs – AI implementation is a complex process. Third-party AI experts who understand your business can help eliminate these AI deployment challenges.
What are AI Consulting Companies?
AI consulting companies are firms that help businesses accelerate their AI adoption. They review their clients’ companies, set clear AI-related objectives, implement the right tools, and track ROIs. A typical AI consulting company will employ:
- On-Site Managers: These professionals maintain direct communication lines with the business owner/manager. They help identify areas of the business that can be helped with AI-powered solutions the most.
- Data Scientists: Data scientists collaborate with on-site managers to develop specific AI deployment strategies, and AI use cases. They also work with different company divisions to realize the data characteristics of the company (e.g., identifying the main data sources of the company).
- Data Engineers: These professionals will create customized algorithms and analyze the data provided by the company to generate specific insights. They may even create reports or dashboards for the workers.
- Workflow Managers: Workflow managers develop prototypes for company-specific AI models and tools. For example, an insurance company may need a specific AI-powered data processing tool to review customer complaints. Data engineers and workflow managers will work in cohesion to provide these customized solutions.
Different AI consulting companies are structured differently. These examples only aim to break down what companies can expect when they partner with AI consultants. Overall, AI consultants simplify the process of AI integration. Their deployment solutions help businesses integrate existing or new/customized AI solutions.
Top AI consultants also offer these additional perks –
- Create Long-Term AI Strategies: AI consultants review their clients’ strategies to set up strategic long-term AI strategies.
- Training Employees: AI consultants can transform “non-technical” workforces into competent AI operators. These consultants also improve the work cultures of their clients’ companies, making them more AI-friendly. Unless their clients’ workforces are capable enough to operate the newly implemented AI technologies, on-site AI consultants keep training them.
- Constant Improvement: Top AI consultants help their clients’ companies progress faster by constantly integrating state-of-the-art AI solutions.
AI experts that offer end-to-end consulting services can help businesses gain competitive advantages when it comes to AI implementation. That is why partnering with an AI consulting company should be the priority of every company that wants to implement advanced AI solutions.