Are you thinking of outsourcing AI requirement, when you are not sure of the value it can add to your business, during its initial phase of R&D.
Whether it is the e-Commerce retail giants Amazon, eBay or an emerging startup, they all have one thing in common, the acceptance to technological advancements and the willingness to adopt it in their process automation. In their visions, AI’s role has been crucial. On a larger scale, Amazon has been automating its godown and warehouses with RPAs or (Robotic Process Automation) by signing a deal with Kiva Systems, a Massachusetts based startup that has been working on making AI robots and software. The report from PwC, a professional service network specify that nearly 45% of the current work is automated in many organizations. Such an approach leads to an annual $2 trillion in savings. Even the emerging startups have started to integrate chatbots in their process management for simplifying the customer engagement process.
All these businesses have focussed on outsourcing their AI needs to other companies having the domain expertise in AI. Therefore, it is evident that such a trend has been persistent and will sustain for long in the near future. Let’s look at why this trend is becoming mainstream and why it is beneficial for companies to outsource their AI requirements to other domain experts.
Companies/corporations work at different wavelengths, and domain expertise differs for all. For example, a company in the retail, supply chain, or logistics might not be an expert in technology. But they do need smart technological solutions that can automate tasks, eliminate the need for workers for menial jobs, and ways that can cut down the operational budget. Though they have full knowledge of their process and domain, having experts to sit in-house for programming, development, and deployment will cost them fortunes. When these companies outsource to AI-oriented companies with expertise in Robotic Process Automation, Business Intelligence, Data Mining, and Visualization, it helps them save additional expenditure from setting up a new tech process and face mental hassles to manage the same. As a result, top companies, whether SMEs, startups, or even MNCs prefer to outsource their AI needs to domain experts in the market.
On-time delivery is a pressing challenge when you have an in-house team to manage the development, testing and delivery process. For example, a retail giant like Amazon or eBay is more interested in improvising their delivery system, product quality and price optimization rather than spending time manufacturing robots or managing data of consumers on their own. At such instance, they need the support of data management and manufacturing companies on the AI domain to help create feasible solutions for them. Having an expert AI company can assure them of on-time delivery without compromising on the quality. The result would be satisfied and happy customers for the companies hiring AI service provider for their niche based requirement.
Smooth business process using AI solution works best when you have the customized solution provider in the market working on solving your challenges. Most AI driven applications need prevailing market analytics and trends to be incorporated for better performance. Companies who decide to build and manage their AI applications on their own if they excel in different sectors won’t meet the desired results when compared to AI oriented solution providers. Those companies whose main product is AI solutions are continuously monitoring trends and upgrades. They partner with numerous AI based companies, volunteer in AI workshops and programs to further enrich their knowledge base. Thus, ending up as best for companies who want to integrate AI solutions in their scheme of work. These AI based startups, or established companies understand the process of their clients and customize the product to best fit into their requirements. For example, Apple’s Siri, or NetFlix customized content shown to users are best use cases to show how AI can simplify the user experience and set-up a smooth process as per the changing needs of the business. But for banks, pharmaceutical or logistics sectors to develop their own solutions like Apple’s Siri or Netflix’s customized AI data analytics would be a tough job to achieve. Even if they do invest into it, the time investment required to keep things in order might disrupt their natural business process. Hence, they find it much more feasible and cost effective to outsource it to an AI company and develop the solutions on their behalf.
For sustainability, businesses have to understand the challenges, market dynamics and adapt to the changes every now and then. Such an approach requires a lot of time investment and spending time to create AI based solutions to simplify their process will be an added liability for resource and time. When companies in other sectors outsource their AI based requirements to a technology company excelling in AI, they save the time and cost. As a result, most companies are willing to outsource their requirements to a tech company rather than managing on their own.
Outsourcing to AI companies help build customized solution and they bring a lot of advantages for businesses who want to resolve their challenges in the most cost effective manner. When you analyze and find out that even top giants like Amazon and Apple are willing to outsource their specific process to AI companies, it wouldn’t be wrong to conclude that outsourcing looks much more feasible option for most companies these days. We at DataToBiz help our partners in their initial phases of R&D involving Artificial technologies. Contact for further details