Business leaders in today's tech and startup scene know the importance of mastering AI and machine learning. They realize how it can help draw valuable insights from data, streamline operations through smart automation, and create unrivaled customer experiences. However, developing these AI technologies and using tools such as Google Maps API for business purposes can be time-consuming and expensive. The demand for highly skilled AI professionals adds an additional layer to the challenge. Therefore, tech firms and startups are under pressure to wisely use their resources when incorporating AI into their business strategies.
In this article, I will be sharing a variety of strategies that tech companies and startups can use to fuel innovation and reduce expenses through the smart application of Google's AI technologies.
Utilizing AI for operational efficiency and growth
Many of today's cutting-edge companies are rolling out innovative services or products that would be impossible without the power of AI. It does not mean these firms are building their infrastructure and workflows from scratch. By tapping into AI and machine learning services offered by cloud providers, businesses can unlock fresh growth opportunities, automate their processes, and steer their cost-cutting initiatives. Even small companies, whose main focus may not be centered around AI, can reap the benefits of weaving AI into their operational fabric, which aids in efficient cost management as they scale.
Accelerating product development
Startups often aim to direct their technical expertise into proprietary projects that directly impact their business. Although developing new AI technology might not be their main goal, the integration of AI features into novel applications carries considerable worth. In such scenarios, using pre-trained APIs presents a fast and cost-friendly solution. This gives organizations a robust base to grow from and produce standout work.
For instance, many companies that incorporate conversational AI into their products and services take advantage of Google Cloud APIs, such as Speech-to-Text and Natural Language. These APIs allow developers to effortlessly weave in features like sentiment analysis, transcription, profanity filtering, content classification, etc. By leveraging this powerful tech, businesses can focus on crafting innovative products instead of pouring time and resources into developing the underlying AI technologies themselves.
Check out this article for great examples of why tech companies opt for Google Cloud's Speech APIs. The highlighted use cases vary, from extracting customer insights to instilling empathetic personalities in robots. For a deeper dive, browse our AI product page, offering additional APIs such as Translation, Vision, and more. You can also explore the Google Cloud Skills Boost program, specifically designed for ML APIs, which offers extra support and expertise in this field.
Optimizing workloads and costs
To address the challenges of expensive and complex ML infrastructure, many companies increasingly turn to cloud services. Cloud platforms offer the advantage of cost optimization, allowing businesses to pay only for the resources they need while easily scaling up or down based on evolving requirements.
With Google Cloud, customers can employ a range of infrastructure options to fine-tune their ML workloads. Some utilize Central Processing Units (CPUs) for versatile prototyping, while others harness the power of Graphics Processing Units (GPUs) for image-centric projects and larger models – especially those that need custom TensorFlow operations which partially run on CPUs. Some choose Google's proprietary ML processors, Tensor Processing Units (TPUs), while many apply a mix of these options tailored to their particular use cases.
Beyond pairing the appropriate hardware with your specific usage scenarios and benefiting from managed services' scalability and operational simplicity, businesses should consider configuration features that help with cost management. For example, Google Cloud provides time-sharing and multi-instance capabilities for GPUs, along with features like the Vertex AI, explicitly designed to optimize GPU usage and costs.
Vertex AI Workbench integrates smoothly with the NVIDIA NGC catalog, enabling the one-click deployment of frameworks, software development kits, and Jupyter Notebooks. This integration, coupled with the Reduction Server, showcases how businesses can boost AI efficiency and curb costs by leveraging managed services.
Amplifying operational efficiency
Apart from leveraging pre-trained APIs and ML model development for product creation, businesses can amplify operational efficiency, especially during their growth phase, by adopting AI solutions tailored to meet specific business and functional needs. These solutions, including contract processing or customer service, pave the way for streamlined business processes and better resource distribution.
An excellent example of such a solution is Google Cloud's DocumentAI. These products leverage the power of machine learning to analyze and extract information from text, catering to various use cases like contract lifecycle management and mortgage processing. By employing DocumentAI, businesses can automate document-related workflows, saving time and improving accuracy.
Contact Center AI offers valuable assistance for companies experiencing a surge in customer support needs. This solution empowers organizations to build intelligent virtual agents, facilitate seamless handoffs between virtual agents and human agents as required, and derive actionable insights from call center interactions. By leveraging these AI tools, tech companies and startups can allocate more resources to innovation and growth while enhancing customer service and optimizing overall efficiency.
Scaling ML development, streamlined model deployment, and enhancing accuracy
Tech firms and startups frequently need custom models to extract insights from their data or implement novel use cases. However, launching these models into production environments can prove challenging and resource intensive. Managed cloud platforms offer a solution by enabling organizations to transition from prototyping to scalable experimentation and regular deployment of production models.
The Vertex AI platform has gained growing popularity among clients as it accelerates ML development, slashing production time by up to 80% compared to alternative methods. It offers an extensive suite of ML Ops capabilities, enabling ML engineers, data scientists, and developers to contribute efficiently. With the inclusion of features like AutoML, even individuals lacking deep ML expertise can train high-performing models using user-friendly, low-code functions.
The use of Vertex AI Workbench has seen considerable growth, with customers benefiting from features like accelerating large model training jobs tenfold and boosting modeling accuracy from 80% to a whopping 98%. Check out the video series for a step-by-step guide on transitioning models from prototype to production. Furthermore, dive into articles that spotlight Vertex AI's contribution to climate change measurement, the incorporation of BigQuery for no-code predictions, the synergy between Vertex AI and BigQuery for enriched data analysis, and this post on Vertex AI example-based explanations to enable intuitive and efficient model iteration.