Business Reporter: To Maximize ROI, Companies Must Build Their Own AI Systems

Mar 2, 2022

The following content was originally published by EIN Presswire.

LONDON, UNITED KINGDOM, March 2, 2022 – In a video published on Business Reporter, Wolf Ruzicka, chairman of EastBanc Technologies, explains how businesses can avoid common mistakes that are expensive, waste resources and erode end-user trust when deploying AI systems. Ruzicka explains that in order to deliver meaningful ROI, AI systems must be pervasive, integrated and incremental. When implemented as one all-encompassing initiative, AI often fails to effectively penetrate the legacy areas of the business where critical operational and customer data resides. As a result, these AI systems provide little impact beyond basic functions. Another mistake that companies make, especially those running multiple AI initiatives, is that they fail to ensure the integration of disparate AI systems and therefore create data silos and potentially conflicting insights that can negatively affect operations as well as the customer experience.

According to Ruzicka, the most significant mistake a company can make when deploying AI systems is to outsource its initiative to a single vendor to “overhaul.” Big, top-down AI initiatives are often costly, slow and very risky. Vendors are more likely to choose their own solutions vs. what is truly the best fit in the market for the client company. In addition, outsourcing AI systems to a vendor leaves the company with little insight into and autonomy over the systems that they come to rely on to power their business.

In contrast, companies are in a better position to achieve meaningful ROI when they maintain internal ownership of their AI systems and directly design, build and manage the systems with the help of a trusted partner. Doing so enables them to better select the products that meet their unique needs and adapt when those needs change or improved offerings come to market. Because AI requires a highly customized and granular approach, Ruzicka recommends that companies own their AI destiny to ensure success.