12 April 2023
Artificial Intelligence [AI] has become a necessity in the modern tech stack, and more businesses are exploring ways to integrate AI into their operations. However, one of the biggest questions that arise when considering AI is whether to purchase or build their desired system.
Deciding whether to buy off-the-shelf AI or build their own requires careful thought. Businesses should consider numerous factors, including their available talent, their timeframe, the cost of building versus buying, integration factors, and the business use cases they want to solve with AI.
While there are many advantages to using off-the-shelf AI software, there are times when building software may make more sense due to domain expertise in niche markets, proprietary issues, or creating core AI tools that provide key differentiators from peers and competitors.
Building an AI system requires a significant amount of time, resources, and expertise. Businesses that choose to build their AI system can have complete control over the development process and tailor the system to their specific needs. Additionally, building an AI system in-house can provide a competitive advantage as it can be more customized and unique than off-the-shelf solutions.
Some high-level internal factors to consider are:
- Escalating costs
- Staff and project management turnover
- Potential for abandoned project due to lack of internal resources
- Ongoing support and maintenance of the system
- Dedicated resources to update and enhance as new AI functionality arises
Purchasing an AI based system can be a faster and more cost-effective solution, especially for businesses with limited resources and expertise. With pre-built AI solutions, businesses can quickly implement AI into their operations without the need to invest in specialized skills or infrastructure. Additionally, pre-built solutions often come with support, maintenance, and software upgrades, which can save businesses time, resources, and money.
When deciding whether to build or purchase an AI system, it is crucial to consider the resources and expertise readily available within their company. Building an AI system requires a team with expertise in data science, machine learning, and software development. If a business lacks these skills in-house, it may be more practical to purchase an out of the box system.
Purchasing AI software from a company can provide several benefits, such as:
- Expertise: these solutions specialize in developing and deploying AI solutions. They have the knowledge, skills, and experience to create robust and effective AI systems. By purchasing AI software from a company, businesses can leverage the expertise of the company’s developers, data scientists, and AI specialists.
- Customization: AI software companies often offer customization options that allow businesses to tailor the software to their specific needs. This can be especially valuable for businesses that require unique features or functionality. Customization options can help ensure that the AI software integrates seamlessly with existing systems and processes, and can provide a competitive advantage.
- Support and maintenance: AI based software platforms typically provide ongoing support and maintenance for their products. This can be essential for businesses that lack the in-house expertise to maintain and update the system. By relying on the software company for support and maintenance, businesses can save time and resources.
- Scalability: outsourcing AI software means access to scalable solutions that can grow and evolve with a business’s needs. As the business expands, the software can adapt and improve to meet changing requirements. This can be especially valuable for businesses that anticipate significant growth or changes in their operations.
- Integration: these companies can ensure that their software integrates smoothly with other systems and tools that a business uses. This can be essential for businesses that want to avoid disruption to existing workflows and processes.
Overall, purchasing AI software from a reputable company can provide businesses with access to expertise, customization options, ongoing support and maintenance, scalability, and seamless integration.
These benefits can help businesses achieve their goals for integrating AI into their operations, improve efficiency and productivity, and gain a competitive advantage in their industry.
About Red Marker
Businesses need a more robust way to track the marketing-to-legal review process, and require more than “off the shelf” rules that are often broad or generic. Incorporating their rules into one central location, Red Marker uses automation and custom trained, proprietary AI specifically trained to identify legal, regulatory and brand risks in marketing documents, bespoke to the unique needs of each business.
We are the only marketing compliance solution to use a hybrid of NLP, Machine Learning, Image Classification, and Transcription services to find risks in text, images, and audio content.
Upon identifying risks, Red Marker is able to suggest changes to remove or amend the content in line with the requirements outlined by the business, and utilizes GPT-3 to provide suggestions for compliant copy to replace the risky text.
Enhancing the legal review process from manual to automatic, leveraging intelligent technology, means our clients can rely on accuracy, enjoy efficient processes, free up resource and ensure they consistently comply with legal and regulatory obligations.Back to Blog & News