Strategic AI: Invest, Build, or Rent

Summary

‍In this conversation, Stu Willson discusses the critical decision companies face when considering AI solutions: whether to build a custom solution or buy an off-the-shelf product. Joined by Ross Hale and Mike McCormick from Artium, they explore the strategic benefits, cost implications, and governance challenges associated with each option. The discussion emphasizes the importance of long-term strategic benefits, total cost of ownership, user adoption, and data security in making informed decisions about AI implementation.

takeaways

• The decision to build or buy AI solutions hinges on long-term strategic benefits.
• Building allows for greater control over user experience and IP ownership.
• Buying may be suitable for internal capabilities that are not customer-facing.
• Total cost of ownership should be viewed as an investment rather than just a cost.
• Compute costs for AI can be significant and should be factored into decisions.
• User adoption and change management are critical for successful AI implementation.
• Governance and data security are paramount in regulated industries like healthcare.
• Companies must iterate on governance to stay competitive in AI.
• The effectiveness of AI solutions depends on how well they are integrated into existing workflows.
• Understanding the return on investment is essential for justifying AI expenditures.

‍Chapters

• 00:00 The AI Dilemma: Build vs. Buy
• 04:19 Strategic Considerations in AI Development
• 06:21 Understanding Total Cost of Ownership
• 10:41 Change Management and User Adoption
• 15:36 Data Security and Governance in AI

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