In an economic environment where costs are rising, businesses are searching for new ways to improve margins, ideally by increasing productivity while lowering costs at the same time. Generative AI is offering a quickly growing toolbox for enhancing efficiency and reducing operational expenses with relatively low targeted investments. For example, AI tools can be used to process large amounts of documents, images or video content as well as to automatically generate new content at high quality.
It is not difficult for organizations to develop a multitude of ideas of how to put generative AI to work—indeed, the potential seems almost unlimited. But developing a comprehensive AI strategy for a business is a big challenge at a time when foundational technologies appear to evolve on a weekly basis.
The generative AI ecosystem is moving at a breathtaking speed, with new players arriving daily and established players at risk of disappearing. Big, commercial large language models (LLMs) are leading the scoreboards, but smaller and open-source models, including those with commercially viable licenses, are catching up quickly. The cost structure of operating LLMs is currently dominated by a scarcity of specialized hardware for AI clusters, with delivery times of a year or more for large customers. Selecting the right set of tools from an avalanche of unproven and quickly changing open-source projects is another considerable challenge.
It seems hard to pick the right combination of tools, AI models and technology suppliers for long-term tech investments, especially for organizations (including large, established consulting firms and IT service providers) that lack the expertise to implement generative AI. So what is a safe approach to creating an AI strategy if you do not want to miss out on this exciting technology, while hedging your bets and minimize your risk?
Wolfram Consulting Group can help companies to navigate this quickly transforming landscape by beginning with carefully selected and sharply focused use cases, avoiding the pitfalls of premature and costly investments. By rapidly developing prototypes for the most promising application areas, clients can gain experience and build the expertise and confidence to develop a longer-term generative AI strategy in preparation for more profound and transformative changes.
Our client, a globally operating digital marketing agency, develops advertising strategies and executes online marketing campaigns for its customers from a broad range of sectors. Their challenge was to determine the best possible allocation of marketing funds among multiple online channels, optimizing the overall effectiveness and return of investment of its marketing campaigns.
Offshore wind is one of the most important sources of renewable energy and a key area of interest for one of Wolfram Consulting Group’s clients. To get a complete understanding of the multitude of factors that contribute to the technical and financial performance of a wind farm, our client’s challenge was to design and develop a complete software package for modeling offshore wind operations.
As a world leader in ship propulsion development, it is crucial to have an in-depth understanding of system dynamics. Therefore, we collaborate with Wolfram Consulting Group whenever we need to develop and analyze dynamic models of our systems.
When we were about to develop a new engine test bench, we contacted Wolfram Consulting Group and asked them to help us with the vibration analysis. By making a dynamic model, they could study the system dynamics and give us design recommendations that proved to be essential for the success of the test bench.
Working with Wolfram Consulting Services, our new MOLS system enables us to ask the questions we want, that students can answer intuitively and that we can expand out to other topics, without being restricted by the technology.
Finding data science vendors is easy; finding a true data science thought partner is hard. Over the years, Wolfram has been the latter. They have helped us articulate advanced capabilities and delivered those, proving their expertise and demonstrating rare skills. Their unwavering commitment and assistance have been instrumental to our project’s success. Last but not least, working with these folks is always great fun.
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From the beginning, the founders of the biotechnology startup Emerald Therapeutics wanted to develop an ideal research platform that would allow for lab and process automation during experiments as well as easy communication of their findings.
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