5 Top GenAI Consulting Firms to Watch in 2024 

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5 Top GenAI Consulting Firms to Watch in 2024 

Generative AI is the latest development in the industry, opening new doors for businesses to grow and become successful. Here, we’ll discuss the top five GenAI consulting firms to hire in 2024 and the role of a service provider in successful AI adoption. 

GenerativeAI has become a buzzword since the launch of ChatGPT in November 2022. Businesses are exploring the potential advantages of using Generative AI to streamline processes and enhance productivity. 

According to a report by McKinsey, GenAI (Generative AI) can potentially contribute $2.6 to $4.4 trillion to the global economy every year by 2030. Generative AI can help a business in many ways, such as extracting information from audiovisual content, summarizing long pages of text, writing and debugging code, rewriting and editing content, providing multiple product or service descriptions, draft letters, emails, ads, and so much more. 

Let’s find out more about the role of GenAI Consulting Firms in helping enterprises adopt the new technology. We’ll look at the top service providers offering GenAI consulting and LLM (large language model) development services in the industry. 


Why is GenAI Important?

Generative AI is a type of artificial intelligence that can create new content, like text, images, video, audio, synthetic data, etc., based on a given input command or query. DALL-E, ChatGPT, etc., are some well-known GenAI platforms used by individuals and businesses. These are built on large language models (LLMs) and trained on massive amounts of data. 

Generative AI is important as it can disrupt the global industry and accelerate technological adoption and digital transformation. LLM consulting companies use open-source models to build customized applications for businesses and train them on proprietary data before deploying them in the client’s IT infrastructure. Almost every industry and department can benefit from generative AI. 


How Will GenAI Impact Consulting?

Generative AI adoption is one of the latest AI-powered innovation strategies that can impact a business in several ways. In the field of consulting, it can be useful in the following ways: 

  • Better data analytics 
  • Custom recommendations 
  • Knowledge management 
  • Efficient problem-solving 
  • Seamless collaborations 
  • Market and sales forecasting 
  • Predictive modeling 
  • Accelerating innovation 

5 Top GenAI Consulting Firms to Watch in 2024

DataToBiz

DataToBiz is among the top AI consulting firms offering tailor-made and end-to-end solutions for complete digital transformation, AI adoption, data engineering, business intelligence, and LLM development. The company provides LLM consulting for businesses from diverse industries and builds data-safe models on-premises and cloud platforms. It helped clients reduce the time taken to resolve concerns by up to 20% and optimized resource utilization by up to 18%.

DataToBiz has experienced AI engineers to build, deploy, integrate, and upgrade AI chatbot solutions, automation tools, virtual assistants, etc. The company provides 24*7 customer support with its 360-degree LLM implementation. It is a certified partner of Microsoft, Google Cloud, and AWS. 

LeewayHertz

LeewayHertz is one of the best AI development companies in the market, offering innovative product development and consulting services to businesses from several industries. The company develops domain-specific LLMs that can be seamlessly integrated with the existing business systems in an organization.

The experts work with different foundational models to choose the most appropriate solution based on the client’s requirements. LeewayHertz also offers strategic consulting services for GenAI adoption. It provides LLM optimization and maintenance services for top-tier Fortune 500 companies. Businesses can choose a hiring model that suits their project specifications. 

Strong Analytics

Strong Analytics is a GenAI model development and data analytics service provider offering custom machine learning software and solutions to diverse clients. The company empowers businesses with cutting-edge AI technologies that have been customized for each business’s specific requirements.

It focuses on building high-performance models that can help businesses navigate the complexities in their industries and achieve the desired results. Strong Analytics also provides data augmentation and synthesis, content generation and automation solutions, computer vision and image synthesis applications, and consulting services to adopt and implement Generative AI in a business. 

Deeper Insights

Deeper Insights is a data intelligence company offering GPT-3 for product development and Generative AI services to different businesses from around the globe. The company builds custom LLMs and trains them on the proprietary data of the clients to provide accurate and meaningful output. It helps establishments unlock the full potential of their business data and thrive in competitive markets.

Deeper Insights aims to reduce costs, optimize resources, increase efficiency, and enhance decision-making capabilities in businesses. It provides end-to-end support, be it strategy formation, large language model customization, deployment, fine-tuning, and long-term maintenance. The company is an AI partner of many leading global businesses. 

ThirdEyeData

ThirdEyeData is an AI and large language model consulting company with ISO certification. It also has Microsoft Silver partner certification and SOC 2 Type 1 data security certification. The company builds real-world AI applications to promote data-centric business models. It develops ChatGPT and Generative AI solutions for automation, predictive modeling, recommendation, decision support, analytics, conversions, etc.

The company blends machine learning, computer vision, NLP (natural language processing), and GenAI to provide tailor-made solutions for businesses to overcome various challenges and achieve their goals. ThirdEyeData offers consulting, application development, bespoke LLM training and optimization, data engineering, and other custom solutions. It has won several awards and is a reputed service provider. 


What are the Challenges of Gen AI?

While building AI products with LLMs is beneficial for businesses, the process is not without a few challenges. These concerns can be overcome by partnering with the reputed GenAI consulting firms we listed above. 

  • Complex technicality 
  • Ethical concerns about data and copyrights
  • Compatibility with legacy systems 
  • The talent gap in the enterprise 
  • Shift in work culture 
  • Monitoring AI misuse 
  • Algorithm and data bias 
  • Oversight in data governance

How New Opportunities can be Created Using GenAI?

AI product development experts have been working on a varied range of projects to find innovative ways to use Generative AI solutions in businesses. It can create new opportunities for enterprises to gain a competitive edge and increase ROI. A few such examples are as follows: 

  • Employee training and feedback 
  • Content creation 
  • Competitor analysis 
  • Market analysis and sales forecasting 
  • Identifying problem areas 
  • Recording steps/ processes in a cycle 
  • Enhancing customer experience 
  • Troubleshooting and debugging 
  • General business/ product analysis 
  • Brainstorming and creativity 

How to Hire a Generative AI Consulting Firm?

Consider the following factors when hiring a GenAI consulting firm to work on your project. 

  • Individual experience and expertise 
  • Certification
  • Transparency and communication 
  • Project portfolio 
  • Technological support 
  • Types of services 
  • Pricing models 
  • Maintenance and support 
  • Client testimonials and satisfaction rate 

Businesses can get AI product development cost estimation reports from shortlisted service providers and compare the offerings before making the final decision. However, note that cost is not the only factor. The features and services included will play a vital role in the final output. 


Conclusion 

Generative AI can support a business in many ways. However, the technology and its ecosystem are still evolving. Enterprises will need to plan for the future when hiring a service provider. Opt for Generative AI consulting services that make the business flexible, agile, scalable, and future-proof. With direct access to expertise, businesses can achieve their goals quickly and generate higher revenue. 

Fact checked by –
Akansha Rani ~ Content Creator & Copy Writer

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