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4 Benefits of Making Your Own AI Tool

November 8, 2023

by Sydney Wess

2023 may have been the year of AI, but companies are taking the new tech a step further in 2024. With plans to make their own custom AI tools, businesses are confident that they have the tools to create a solution that’s better and more specific to their needs than anything else on the market.

The introduction of ChatGPT from OpenAI catapulted artificial intelligence and AI assistants to the forefront of business operations. However, over the course of 2023, businesses have made notable changes to the way they engage and adopt artificial intelligence.

While tech giants continue to refine AI models and introduce new tools, natural language processing (NLP), or AI-powered tools, small businesses are moving toward creating custom AI tools of their own.

According to new Clutch research, building their own AI technology is the most popular digital transformation project on small business agendas for 2024.

The top two digital transofmration initiative are creating AI-powered tools and improving cybersecurity threat detection.

It’s no small task for businesses to produce training data, machine learning, and data science expertise, and AI algorithms to build their own artificial intelligence. They’re choosing to do so despite the challenge in order to enhance customer satisfaction and employee productivity.

These are just a few of the benefits of creating your own AI app or generative AI solution. Stay tuned for the top advantages companies are already capitalizing on by investing in internal AI projects.

Looking to build AI tools next year? Find an AI development company to work with on Clutch.

4 Benefits of Building Your Own AI

Innovation is the driving force of success, and all eyes are on AI for the upcoming year. Here’s why small businesses are building their own tools:

  1. Address specific needs with tailored solutions
  2. Improved customer satisfaction
  3. More productive employees
  4. Data-centric decision-making

Do you know the cost of AI systems and services? Discover what companies pay with our AI pricing guide.

Tailored Solutions for Specific Needs

There are endless use cases for AI depending on your goals and industry, and many companies have already tested existing AI tools to discover how the technology improves their operations.

Now, these companies are leveraging machine learning algorithms and automation to match their unique internal requirements. Building custom tools means that companies can design solutions with their audience and common pain points in mind and are able to anticipate needs downstream.

For instance, Clutch launched ClutchAI, an AI chatbot that can recommend service providers on the Clutch website based on user inputs.

ClutchAI uses data to provide fast, personalized, and conversational results

The training process for the chatbot focused on service provider data that can already be found on-site, but ClutchAI’s interactive Q&A format streamlines the shortlisting process and connects users with best-fit providers in seconds.

Off-the-shelf AI tools often come with generic features that may not precisely match a company's unique requirements, but building custom tools using your own datasets can.

Enhanced Customer Satisfaction

The ultimate goal of any business is to satisfy its customers. Custom AI tools offer a competitive edge by providing personalized and efficient customer experiences.

AI-driven chatbots, recommendation engines, and predictive analytics can significantly enhance customer interactions. Additionally, new tech can contribute to making your customer journey more user-friendly by making it easier to access and find information.

All of these factors play a big role in increased customer loyalty and retention, which will certainly boost ROI over time.

Improved Employee Productivity

In addition to enhancing the customer experience, custom AI tools can revolutionize internal processes.

Tasks that are repetitive and time-consuming, such as data entry, can bog down employees and take up valuable time during the workday.

AI is known for its automation capabilities, which can take tedious work like this off staff plates. This means that employees can focus on more valuable, creative, and strategic tasks.

Of course, this will make employees more productive in other areas, but there’s also a residual effect: job satisfaction. Employees with more time to do their mission-critical work will feel less stress in their days, creating a more satisfying work life.

Indirectly, this could mean reduced turnover and less time spent backfilling vacant positions.

Data-Driven Decision-Making

Custom AI tools empower businesses to harness the full potential of their data. It’s likely that your company is sitting on insights that could be brought to life with some AI and computer science.

With the ability to collect, process, and analyze vast amounts of data in real-time, AI is an essential for companies looking for fast and accurate insights from their database. Using AI’s reliable analytical capabilities, companies can rest assured that they will be able to make data-driven decisions that drive growth and efficiency.

AI tools can provide valuable insights and recommendations from marketing campaigns to supply chain management. Regardless of your industry or the types of AI you’re looking to introduce, data analysis can be a part of your custom solution.

Accessibility of Custom AI is Expanding

One of the most exciting aspects of companies experimenting with in-house, personal AI is that it highlights the democratization of AI. It’s no longer out of reach for beginners and enthusiasts, and it’s far from the exclusive realm of tech giants with substantial R&D budgets.

Companies of all sizes, from startups to well-established corporations, are discovering that building custom AI tools is both feasible and advantageous. Recent advancements in AI development frameworks and cloud-based services have significantly lowered the barriers to entry, making AI accessible to companies regardless of their scale or resources.

As the AI field continues to evolve, more companies will recognize the potential of custom AI tools to drive innovation, streamline operations, and create a customer-centric environment. It's clear that the future of business is intimately tied to the ability to harness the power of AI, and the time to start building custom AI solutions is now.

Get started with your AI development project today with a Clutch provider.

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