How to Choose the Right AI Vendor for your Enterprise

The emergence of Generative AI pushes for rapid adoption of AI like no other technological innovations in recent times.

Everyone wants to use Generative AI for its reasoning, logic, and problem-solving skills independent of human oversight.

The wave of opportunities Generative AI brings is clear evidence that AI or GenAI would take very little time to become mainstream.

Companies want to train or build proprietary models for various business use cases.

Goldman Sachs predicts that Generative AI brings up huge economic potential by boosting labor productivity, which is expected to be raised by 1 percentage point annually.

That’s probably a growth driver for AI. After the release of ChatGPT, interest in AI has shot up. With that, Goldman Sach's research suggests that AI investment will likely grow by $100 billion in the U.S. and $200 billion Globally by 2025.

It is evident that companies are eager to implement their own GenAI or AI models—irrespective of their desired business objectives, whether they want to boost employee support or customer interactions, or it can be anything.

However, the agony is not all AI projects can successfully meet their fate. The reason is finding the right AI vendor is tough.

With so many AI vendors with lots of hype around their specializations, it takes time to make the right decision. One wrong step could incur losses of millions of dollars for a wrong-implemented AI project and prevent you from trying out a new opportunity.

Before having such a sour experience, let’s get a clear vision of how to get the right AI solution built up from your AI vendor.

As a business leader,?digital transformation driven by Generative AI?solutions or AI models is always desirable.

However, choosing the right AI vendor for your enterprise must involve evaluating the project's comprehensive sides and ensuring that the vendor aligns with overall business objectives.

Let’s know them.

Business Level Considerations

Your business can have a significant thought process about a new project. Before you search for an AI vendor, make sure you have business-level considerations.

Ensure mutual agreement

Businesses need 100% buy-in from senior management so as to go ahead with the AI project or anything for digital transformation successfully. If you can have your senior management on the same board, it can significantly reduce disagreement regarding any decisions taken. Also, with senior management buy-in, it is easy for a business to conclude on a project scope and facilitate financial support.

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