How to Choose the Right AI Vendor?

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How to Choose the Right AI Vendor?

Artificial Intelligence has committed to be the game changer in the business world. Since AI is one of the latest technology, companies which are early adopters always get better preferences in vendor relationships. A good Vendor is always willing to provide custom configurations, training and discounts if you choose to be one of their success projects.

Since the past few years, we have witnessed many companies dealing with AI projects fading away, due to their inability to achieve the right ROI.  The selection of right partners and tools will always help to come out with positive results. But with so much buzz and preferences, choosing the right Vendor is not easy. Because choosing the wrong one will lead to an ROI failure.

Choosing the Right Company:  Whichever company you choose as your vendor, the problems you want AI to resolve should be first clear in your mind. There is huge number of AI vendors in the market; hence consciousness is the key to pick the right one. To choose the right AI vendor, here is a list of questions to check with the AI companies.

  • Confirm your ROI
  • Find how experienced is the AI Service Provider
  • Know in details about their services and Approaches.
  • Know how much it will cost

 

  • Confirm your ROI

First of all, make sure you choose the right the AI vendor that will be able to deliver real value to your business. Before going to look into a solution from the particular vendor, be very sure about the problem for which you are looking a solution. Once you have figured out your requirements, insist that your AI partner confirms the output you are looking for. Explain your ROI and ask them to demonstrate how they are going to help you achieve it.

  • Find how experienced is the AI Service Provider

We are always keen towards latest AI innovations, but none of us really wants to partner with an inexperienced startup.  Experiences of successful implementations can be trusted to solve upcoming problems. Certifications and written testimonials do carry value but without ROI demonstration, it’s all vague. Make sure that the company you are going to select as your new AI vendor has got proven records of successful AI implementation and bring real business benefits.

  • Know in details about their services and Approaches

Know in detail about the AI potential of the company and how their AI and ML systems work. Ask about their unique approaches, their parameter optimization techniques and each of their success stories.

Study their case studies and make sure their applications include cognitive computing, NLP, ML, DL, speech and image recognition, etc. Check whether they have updated resources for developing AI strategies, attaining new skills and presentation of new services.

Survey predicts that 40 percent of all digital transformation advantages and 100 percent of all operative IoT determinations will be reinforced by AI capabilities.

  • Know how much it will cost

A complex AI system that can solve many problems can be a good choice for now but if it takes long years for its implementation, your company will be far behind others. But also a one time implementation machine will be more costly in the long run even if its implementation is simple and fast. Each machine has got advantages as well as disadvantages. So do detailed research and choose the right AI vendor that can provide simple and best practices of implementation.  A right vendor will help you to achieve good quality solution within short span of time while saving huge amount of cost with less delays.

For more enquiries on vendor vetting, contact us at enquiries@factoryworx.net.au

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