Machine learning can advance a variety of business processes. It’s the type of technology that learns on its own experience with no humans involved. It’s fast, error-free, and is applicable almost everywhere due to adjustable algorithms. In 2021, the applicability of ML and AI looked the following way:
Being on top of the market’s leading technologies and in great demand makes machine learning one of the most searched trends worldwide.
Technologies that work best for business are getting more attention as well as the people, who are skilled in ML and AI. And in most of the developed countries, ML software engineers receive quite a prominent salary. So, if clients need an in-house team, most likely, they won’t be able to afford it. Expenses for the staff will exceed the budget.
Perhaps, it would be best to consider machine learning outsourcing? But, how to outsource machine learning? And, most important, where from? Let’s investigate the possibilities!
Advantages of machine learning outsourcing
Looking for Dedicated Team?
Today, the advantages of outsourced machine learning are extremely evident. It doesn’t even matter what type of business you have – the results of ML and AI integration into it will skyrocket its performance and growth. For example,
- In Healthcare, with the help of AI algorithms and different process automation, any medical business can build a functional and life-saving AI system. With the help of data analytics and collected data from patient wearables, software, and other medical devices, businesses can be sure of the accuracy of set diagnoses, track any patient health changes, and promote quick disease downfall.
- In the Education industry, you can build intelligent AI chatbots, ML models that enhance recommendations, personalize e-learning, predict future careers, track real-time learning progress, engage in language processing, etc.
- In Logistics you can develop Logistic Management Software and Transportation Management Systems also using AI and machine learning. These technologies optimize, automate, and produce forecasts. Also, you can engage in building sensor-driven AI robotics. Anything that will put your business on the next level is possible with ML and AI.
- In Fintech, there is a chance to improve customer experience using data analytics and AI development. Banks can use chatbots to enhance customer satisfaction, prevent possible money fraud/laundering, provide better security with AI. The right trained ml models can identify risk via collecting and analyzing critical financial information. And much more.
- In Real Estate, ML is perfectly used in the front-end to help brokers, clients, and customers with filtering. Using Natural Language Processing your business can initiate filter search and multiple listing services that will also analyze end-user preferences. This way, users will get more matches in search results to their expectations.
- In eCommerce and Retail, it is possible to train a model and categorize your audience by age, location, gender, and buying habits. Having all this data analyzed, you can easily make them good offers and receive more customer engagement than ever.
- In Arts, machine learning technology allows building a platform that tracks new generations of artists, defines the art style, popularity, and price of their paintings. It is done via data collection, analysis, and visualization. Sounds surreal. But such a platform exists.
And there’s more of the business advantages we can talk about. But, let’s define 5 reasons why startups and other businesses should turn to ML development outsourcing.
Reasons to outsource ML development:
1. Save up product development time
With the ability to outsource machine learning development, you can save some time on finding the in-house team. Although you will still need to find a team to outsource your development, you will put all the effort into finding the best one that understands your business needs. To add, if the team is on the same page as you are from the start, each iteration will be conducted saving up time here and there, which could have been used to resolve miscommunication issues.
2. Save a lot of product development costs
Having a project to outsource does not mean that you have an extensive budget. So, you need to find yourself an outsourced team that would not cost you all the money. Unfortunately, in-house developers might be the wrong choice. If you are a business from the USA, according to Indeed, the average yearly salary of ML talent in the country is $131,073. That means an average ML developer in the U.S. receives almost $57 per hour. This puts clients from the USA in a difficult position. For the whole project, development might cost a fortune. Why not save these costs and hire outsourced partners that are intelligent, produce quality work, do things fast, and need much less hourly payment?
3. Prioritize valuable product development labor efforts
Via outsourcing ML development you can leave your in-house team to do some other and more valuable work. For instance, there are always tasks that require urgency. And, if you have successfully outsourced the development team, then your in-house colleagues might be getting other things done on a bigger scope project. Sounds rational.
4. Economize on product development resources
Among the benefits of outsourcing machine learning development is the possibility of the machine learning outsourcing provider making use of his/her resources on the project. As outsourcing developers is always done overseas, clients cannot always supply the team with hardware and software. So, the team will use their own resources. And the price for them will be quite low. You may even get to choose what is going to be used.
5. Enhance customer experience
With ML and AI, it is also possible to create chatbots, analyze risks, make decision-making easier, prevent by predicting future events, automate, categorize, personalize, and many more. It is a road towards business success? Definitely!
Exploring the most efficient ML outsourcing benefits
1. Skilled professionals in ML and AI
One of the benefits of machine learning development outsourcing lies in the fact that the knowledge of AI and machine learning requires analytical skills, experience, and the ability to work with neural networks. Not every software engineer has the potential to become a machine learning expert. It needs certain investment into education and technology dedication. That’s why ML developers are highly valued in the software development market. Each developer has a quality knowledge background and can produce effective algorithms for the ml models.
2. Reduction in development time and costs
If you outsource machine learning successfully, there will be no extra time spent on production and the skilled team will rather allow you to reduce development costs. Like it was mentioned before, the hourly rate of certified experts offshore is pretty low, but the services they provide are extremely solid.
3. Better resources
A perfect bonus of the team you’re ready to hire is that they can advise you on the best resources to use. Some of them might be even available for them and cost you little to none. Everything depends on your business needs.
4. Great data management and data safety
Great software development providers follow the data safety rules and transmit valuable data only using encrypted methods. Also, data preparation and management in an ML development company promotes business continuity processes. As most of the work and ML model training is done via data collection and analysis, there is certain respect to data maintenance. What does it mean for businesses? Mainly, that your data is managed correctly and securely.
Risks of machine learning development outsourcing
Looking for Dedicated Team?
But besides advantages and benefits, there are a few risks you should also know about. For instance,
If you consider outsourcing machine learning, the time zone can be quite an issue. It’s ok when the time difference equals 2-3 hours. But, some countries have a 5 or 8-hour difference. What’s then? There is always a chance you will be unable to communicate with your team and schedule meetings not compromising their or your working hours. But, most of the businesses and providers do find means of communication as well as the perfect timing. It depends on your needs and the team.
2. Insufficient domain knowledge
Some machine learning service provider companies can be relatively young. And, even if they say that they can carry out a project for you, you should check their domain knowledge. The more experienced developers have the better. Junior developers will not be able to perform as fast as Senior ones. Ask yourself first, whom do you need, and then, find the right company.
3. Safety issues
Do you trust your outsourcing partner? Is the company reliable? Are there any safety issues? Most of your project information is sensitive and confidential. So, you need to make sure the company with machine learning outsource service complies with all the safety regulations. Maybe, check whether they have such security and safety certificates as ISO 27001 or GDPR. Companies that promote safety always engage in all the certification and regulation measures.
4. Poor management of a project
Even if you found the right team, be cautious. There’s a chance your potential partner is a young inexperienced machine learning service provider that hasn’t refined its processes yet. This means, there might be poor management on your project. Experienced teams set your cooperation details and discuss them from A to Z. The ones that have no idea what to do only mess things up and try to put a process together. The latter may lead to money and time losses.
How to find and hire the right outsourcing ml development provider?
To obtain only ML outsourcing benefits, you should:
1. Understand your business needs
The first and the utmost rule is to be 100% aware of what you need to achieve via ml development. Based on these characteristics you can initiate your search for an ml development team. But if you lack certain knowledge and have no idea what the team has to carry out, then you might make a big mistake and outsource not the right team. A product you wish to produce has a lot to say about your potential team’s experience, skills, use of technology, and more.
2. Search for a trustworthy ML service provider
Second, always search for your potential partner via trustworthy resources. For example, Clutch, GoodFirms, LinkedIn, local media sources, or business partner recommendations.
3. Be on the same page with the team
Third, if your team understands the concept of your project 100% – this is the right team. Mutual understanding is of great value. If the team catches your project intentions from the start the whole process of development will be filled with easy communication, top quality features, and little to change.
4. Initiate testing
Forth, every project needs to be tested. Some initiate testing from the start, the others implement it after the design stage. What does this stage give you? It allows to be sure the application works fine and it won’t crash for no reason. So, your team has to have quality assurance engineers as well.
Consider Inoxoft your trusted partner in ML development
Inoxoft is a machine learning development company providing personalized and convenient solutions for our clients. We are delivering top AI and ML solutions in Education, Healthcare Fintech, Real Estate, and logistics industries. Our team’s expertise speaks louder than words. Get to know our tech stack and tools!
With ML and AI solutions you can scale your business and:
- Reduce unwanted human error
- Experience automation and better decision-making
- Get personalized software per your needs
- Obtain an innovative product
And, also, if your business idea is rather raw, discover its potential via our discovery phase services, especially the proof of concept in software development. Book a call with our consultants and get a free consultation for your project! Benefit from your ML and AI solutions developed by Inoxoft!
Also read: How to write an NDA?
Looking for Dedicated Team?
Machine learning and AI technologies are not going to stop progressing any time soon, so carrying out a project Ml model or AI algorithms is something every business should consider. What would it give you? Lots of benefits. For instance, automation, personalization, security, better decision making, chatbots, ml models that learn on data, predicting, prevention, and many more. So, consider outsourcing your software development to an expert service provider. How can you do that – simple! The answers are in the article.