AI News, BOOK REVIEW: Artificial Intelligence Archives

AI Consulting: In-depth Guide with Top AI Consultants of 2020

Different consulting companies have different estimates but companies like McKinsey, PwC all rightly claim that AI is a multi trillion dollar economic opportunity for the world which will be unlocked in the next decade.

For example, a translation services company needs to make dramatic changes to its business to ensure that it survives in 5-10 years when Google translate reaches human level translation capabilities.

It is helpful to have strategy sessions envisioning 5-10 years into the future, helping executives understand the future of AI so they can identify how their business needs to start changing today.

due diligence require a consulting team to prepare the inputs to a valuation in a short amount of time, typically in 1 month.

These include understanding and evaluating data sources relevant for AI models, formulating fast approaches to benchmarking different AI vendors’

Implementation should also be considered as multiple activities such as planning, vendor selection if needed, project management, development, improvement of business processes impacted by the project, change management and so on.

However, for example, if the client lacks the tech know-how to implement urgent initiatives, starting with consultants can help the client progress faster.

However, please bear in mind that, in the long run relying on consultants completely for implementation will likely be more expensive than completing those activities in-house.

Traditional consulting firms such as MBB (McKinsey, BCG, Bain) have been active in strategy side of things for a long time, but as the greater dependence on data continues, companies’

So this raises the question of whether consulting will be able to survive without artificial intelligence implementation or not.  Those two industries will likely to become more interlinked because of the advantages of a possible partnership.

They are focusing on AI applications, educating executives on AI and identifying limits of AI: Though launched as accounting companies in early 1900s, Big 4 (Deloitte, PwC, EY and KPMG) have been running consulting businesses for >50 years.

Big 4 accounting firms are some of the largest employers in the world and they have deep enough pockets to make large investments in this space and they have the business development know-how and resources to make partnerships across the AI ecosystem to deliver end-to-end services.

Their teams have gained substantial expertise in handling massive amounts of data through their specific cloud architecture, and for a data-intensive activity like artificial intelligence, they can provide the right advisory for their clients.

These companies have productized their solutions to some degree however, they still engage with their enterprise clients in labor intensive engagement which involves customizing and integrating their product into clients’

This is not a comprehensive list yet, please feel free to add other firms to comments GoodAI Consulting is an AI-focused consulting firm using artificial intelligence solutions to maximize business success for companies and organizations across a range of industries.

The company analyzes how AI can help a client’s business, do the necessary research legwork on their behalf, and implement practical solutions.

Even though artificial intelligence provides huge scalability advantages, integration into a differently sized organization requires a different type of focus points.

Therefore, some artificial intelligence consulting firms choose to focus on small and medium enterprises and provide custom tailored solutions WildFire is an example of these consulting firms.

It is common for tech companies to add complimentary services on top of product sales or to provide free PoCs to gather new customers.

However, most AI consulting projects, like most consulting projects, are priced based on the time and materials necessary for the project as estimated by the consultancy.

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