Machine Learning Outsourcing in 2021: Benefits & Challenges

According to the "AI adoption in the enterprise 2020" survey by O'Reilly, 85% of organizations are using or evaluating to use AI. Other statistics on AI adoption clearly show that there is a significant interest in AI and ML in businesses as AI/ML provide numerous benefits through a diverse set of applications. However, successful applications require expertise in areas such as data processing and model building, and not every business has the resources to hire, train, and maintain in-house teams of machine learning professionals. Outsourcing machine learning projects to ML outsourcing companies or consultants is an alternative approach to implementing ML applications to your business. One of the most common questions faced by businesses that are planning to embark on a machine learning application is whether to implement it with an in-house team or outsource their ML project to an external AI/ML company.