You’ve been sold on the idea that big data will bring you big returns. Some companies are successfully leveraging data to create new revenue streams. Many are not. Many. How is data really helping your business?
Artificial intelligence (Ai) and machine learning (ML) are the path to a better future—if you choose the correct path to get there.
The path to your left is to create a new team in your company filled with data scientists and data engineers. The path to your right is to partner with a company who already has domain expertise and can get products quickly.
Yes, it is now possible—and advisable—to outsource your machine learning programs.
Let’s break down both options and find out how outsourcing saves you money, reduces the significant risk of doing it yourself, and gives you a much better result.
Thinking about hiring a new team for your company to make sense of your data? This is a good option if you plan to create manymodels and spend millions of dollars.
Before you take the plunge, however, there are things you need to consider.
Ai, particularly machine learning, is a specialty. And it’s not just a specialty for a group of people you can hire and put in a room and let them work. They also need to understand the business they’re in and have domain expertise.
As a business, you need to have some level of sophistication on how to build Ai. The same way you have knowledge on how to build a web presence or build your own software. But it’s very difficult to do that while you’re also doing all the other things your company needs to do.
Take the analogy of websites back in the beginning, the early 2000s, or even the late 90s. Companies just started hiring whole teams of people to make their websites, designing their own tooling and following the many changes that were going on, such as evolving website technologies, on a 24/7 basis.
Almost nobody creates and manages their own website nowadays, though, as they usually use Wordpress or an outside firm to make their customer-facing website. Building websites is a specialty, after all, and it’s cheaper and faster to partner with a firm.
Ai is no different. If you’re going down the path of trying to build your own Ai, you need to hire people with exact knowledge of the domain they’ll be working in. And that’s incredibly rare.
Choosing the best machine learning firm to partner with is an important decision. What do they have to offer you? Do they have the domain expertise to hit the ground running? Do they have models ready-to-go? Do they have experts on staff who work in your industry? Do they even understand data complexities and how to solve business problems?
Specialty firms, like ElectrifAi, have demonstrable machine learning models already built, so why not start there? ElectrifAi has the upper hand over the competition with the largest library of machine learning models, over 1,000 to fit your specifications.
We know what you’re thinking. ElectrifAi will never be able to understand my business as well as someone who I’ve onboarded and trained. That’s a very common misconception. We understand your business because we’ve been working with companies for over 16 years and after all that time, you start to learn a few things.
Consider these statistics. VentureBeatclaims “87% of machine learning products never made it into production” and Harvard Business Review says that “the first wave of corporate Ai is bound to fail.”
It’s a no-brainer that working with ElectrifAi’s proven ready-to-go machine learning models is better than building in-house Ai products that never make it into production.
If you happen to be one of the lucky few 13% that did manage to be successful in getting your model to production, you would be exactly where ElectrifAi is right now. But do you want to take the 87% chance of failure and waste months of work? As data people, we know those odds are not good.
Do you want to have actionable products to make strategic business decisions now? Then choose the right path and partner with ElectrifAi.
Why use ElectrifAi?
Well, why build when you can buy? Eliminate the headaches of hiring a new team, onboarding, and overhead costs while simultaneously saving money and time by partnering with the experts.
With ElectrifAi, you will have the tools you need to succeed with less effort, time, and cost than hiring your own in-house team. Leverage pre-built machine learning models and maximize on the opportunities to cut costs and increase revenue.
Our global presence, with our headquarters in Jersey City, and offices in New Delhi and Shanghai, let us work with unique cultures and understand their pain points. So, it doesn’t matter if you live in the US or in Timbuktu, we can help you find products with your data fast.
We’re solving real business problems for businesspeople and we have over 2,000 proven engagements doing so. Don’t wait months to find actionable products. Get machine learning now to walk a brighter path.
