In a recent article, KPMG looks into how whilst Artificial Intelligence (AI) continues to reshape industries, executives face a critical decision: should they build a custom AI solution in-house or buy an existing one from a third-party provider? This “build vs. buy” dilemma is both a technical and strategic decision with significant implications for a company’s competitive advantage, innovation, and growth.
This dilemma is like the one business have where they had to decide whether to build custom software vs. buying off-the-shelf solutions. Businesses had to weigh up the advantage of having a tool built around their unique processes even though it would come with high costs, lengthy development times, and complex maintenance.
Today, the AI landscape presents a new iteration of this challenge, forcing companies to carefully consider whether to invest in building a tailored AI system or leverage existing solutions that offer faster, more cost-effective deployment. From a new survey conducted by KPMG LLP, executives report that Generative AI (GenAI) is already significantly impacting their strategic planning, with the majority expecting positive Return on Investment (ROI) within the next three years.
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