Every AI or Machine Learning project is unique: diverse data sets with different variables, integrations in or with existing software or hardware and different expectations and goals to be pursued. The decision as to how a business case should be set up technically in practice is an important factor in its ultimate success. In this...
Artificial intelligence in organisations: project approach vs. AI-software
Data has rapidly become an important driver for innovation. They are often presented as raw material that is difficult to extract, and which also requires the right kind of refining. As is often the case, there is solid ground of truth in this cliché image. Many companies, organizations and research institutions face the same challenge: how to extract and process data in a cost-efficient manner that delivers business value at the end of the journey? We compare the classic project approach for AI with Trendskout AI software.
Democratization of AI
The recent evolutions in artificial intelligence have opened up many new possibilities for all kinds of business and research applications. Specialized project agencies have come to the rescue to assist. They usually have a great deal of expertise and help companies to analyze and solve complete business cases from A to Z. However, not every project justifies the often sky-rocketing costs that such an approach inevitably entails.
That is exactly where we make the difference with Trendskout. Our software platform offers a wide range of AI algorithms that companies and organizations can easily control via a browser interface. Simply choose the practical AI application you need, identify the most important parameters, and the Trendskout AI will then start, in the cloud, building the most suitable model for the business case in question. This democratization of AI provides organizations with added value at different levels.
Let’s dig a bit deeper into the differences between a classic project approach for AI and the Trendskout AI software. We also look at the way in which software offers organizations and companies the freedom to:
- Increase flexibility when working with data,
- Also making smaller projects profitable,
- Reducing Total Cost of Ownership ,
- Faster Time To Market.
Project approach and AI software: key differences
An AI case implemented on a classical project basis can easily take several months – depending on the software used and the internal or external manpower employed. With Trendskout, the same use case will typically only take a few days. For rapid analysis of trends or research results, this easily means the difference between immediately usable results and a missed opportunity.
Recurring project costs
Typical AI projects focus on merely one case, one investment. Multiple business cases with AI therefore not only drive the lead time, but also the budgets up. With Trendskout you only need a monthly subscription, with as many AI business cases as you need. This way you avoid the high start-up and maintenance costs for new AI project and unforeseen project costs are a thing of the past.
“Trendskout is the democratization of artificial intelligence. Smaller business cases suddenly also become profitable with an AI software platform.”
Integrations with external tools or systems often need to be implemented from scratch within a classic project approach. The Trendskout AI software contains ready-to-use plug-ins and its own API, which facilitates and accelerates integration with your existing ecosystem. Being able to quickly connect data sources and BI tools often provides extra insights.
Saving time for better ROI
In many cases, an AI software platform means a serious improvement in returns. The platform approach brings artificial intelligence a step closer to scalable deployment in multiple business cases, without the need for a comprehensive white glove approach via external agencies. The use of Trendskout’s AI software decimates the time required to roll out projects, which also significantly improves the return on investment.
This in turn enables organizations to also work out smaller business cases. Projects of limited size that do not yield sufficient ROI due to the high fixed costs of the traditional approach, suddenly become profitable through a software-based approach. This brings artificial intelligence within the reach of smaller organizations that do not have the budgets of multinationals.
Lowered TCO and double results
In addition to improving the ROI, a software platform provides another business advantage, in the form of lower Total Cost of Ownership or TCO. A classic AI project rarely takes full costs into account throughout the life of the solution – just think of support, updates and revisions. However, those investments are necessary to keep the output of the project relevant. The final development cost for typical tailor-made projects more than often means a doubling of the initial investment.
The AI platform from Trendskout takes this into account thanks to its SaaS model. The AI in our software is constantly looking for the most optimal algorithms and models and is regularly updated, with no negative impact on the data sources or the result. A halving of the Total Cost of Ownership, and above all: no unpleasant financial surprises afterwards. This allows your teams to focus on what really matters.