The world is in awe of artificial intelligence and machine learning. They both act as responsible decision-makers, enhancing the user experience and improving business processes.
As a result of the popularity, many firms are racing to develop AI/ML technologies to improve their business and offer an elevated experience to their customers.
The AI industry’s size was valued at $34.87 billion in 2020 and is projected to reach the milestone of $126 billion by the year 2025.
Image Credit: Statista.com
The same growth can also be expected for machine learning. According to Fortune Business Insight, the global machine learning market size was valued at $15.50 billion in 2021 and is estimated to grow at a CAGR of 38.6% resulting in a market value of $152.54 billion by the year 2028.
Wouldn’t it be great if you could profit from the growth of both artificial intelligence and machine learning?
Now the question is: how can you leverage both artificial intelligence and machine learning capabilities to maximize your business’s performance?
The best answer to this question is to hire an app development company that holds expertise in both artificial intelligence and machine learning. With the ever-increasing competition, it has become most challenging for startups and entrepreneurs to pick the right firm.
So, we have narrowed down some important features that you should consider while making the selection of the right AI or machine learning development company. Before doing so, let’s broaden our understanding of AI and ml technology in the development field.
Let’s start with the definition of artificial intelligence and machine learning.
In a nutshell, artificial intelligence is the integration of human intelligence into machines designed to think exactly like humans and carry out tasks exactly like humans.
While machine learning can also be considered a subset of artificial intelligence, which boosts the computers’ thinking power by allowing them to think like humans. Machine learning builds on the experience and uses it as the foundation to fuel intelligence in computer systems.
When both AI and ML are coupled together, they can help businesses extract the value out of the data they collect, deliver business insights in a more precise way, automate tasks, and advance system capabilities to boost business productivity. All of these things serve as the cornerstone of business to help them achieve a variety of measurable outcomes, as mentioned below:
These were a few benefits your business can reap by integrating machine learning and artificial intelligence together. The list of the business benefits can be expanded together depending on the expertise of the AI development company or ML development company you opt to work with.
To prevent your efforts from going in vain, you need to hire an AI or machine learning development company that completely aligns with your vision.
Here are a few of the essential traits you should look for in artificial intelligence or machine learning development company:
The very first thing you should consider is hiring a company with relevant experience in artificial intelligence or machine learning.
There are two ways through which you can judge a company and its experience:
First, if you are unclear about your problem and don’t know how to resolve it, then you should seek professional advice. A professional company will analyze your business case and provide a solution alongside a complete roadmap to be followed to implement the solution.
If a company expects you to provide them with the business problem and solution, then you should consider hiring another company.
What if you are already aware of the problem and well-defined idea that you can follow to address that problem? In such a case your AI/ML development company shouldn’t directly stick to your idea. The company’s job is to evaluate your idea and see if there is any other effective way to address the problem.
How will you ensure that the AI solution you invest in will be worth it?
Minimal viable product or proof of concept development will provide you with an essential product you can test in your business case at less time and cost before implementing the actual idea.
Communication is the key to ensuring the successful execution of your ML or AI development solutions. Thus you can’t afford to look after the communication strategies of the company.
You should engage with the company to understand how they offer support to their customer, what will happen if you face any hiccups after the project deployment, and so on.
When you sign a contract with a machine learning or AI development company, you should also ensure that the chosen company meets your time and budget constraints.
If you have a particular date in your mind for the release of your product, then you should share it with your company and ask them to follow up with your deadline.
Budget is another particular challenge that you should take care of while hiring a machine learning or artificial intelligence developer. Be precise with your requirements and ask your development company to provide you with the cost estimation document to avoid any complications.
A huge number of companies lost their customer and brand recognition as a result of unprotected data and poor cybersecurity practices. Though the AI development company you hire should take adequate security measures to ensure your application data is protected.
Every idea is unique, thus you should know what legal protection the company follows to maintain the integrity of your project.
You should sign a non-disclosure agreement with your company to ensure that your business idea is safe with your development partner.
If you ask us to provide the best single practice for choosing the best ML/AI development company, it would be to choose one that has specialization in machine learning and AI rather than hiring a normal app development company.
Another thing we recommend you look at is the company’s previous projects and client testimonials.
Konstant Infosolutions is one of the highly recommend mobile app development companies that have a core specialization in both machine learning and artificial intelligence.ai
AI and ML both can be taught as the sons of computer sciences. Both serve the similar purpose of developing intelligence in machines just like humans. Artificial intelligence and machine learning can be applied together to solve actual business problems more precisely.
To ensure the successful implementation of the above-mentioned steps you can hire an app development company with a specialization in AI and ML.
Being indulged in the IT industry for more than 3+ years, I aim to offer up-to-date and latest knowledge on different technologies and trends setting the market. This is what I love to do. When I'm not working, I like to be near the outdoors surrounded by greenery.
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