Demand for AI consultants is on the rise $$$$

Good Morning AI Runners

Here's what we've got for you today:

• Demand for AI consultants on the rise

• Untapped Healthcare AI market

• The Generative AI Landscape

Demand for AI consultants on the rise

The demand for AI consultants is expected to skyrocket as more companies adopt AI technologies in an effort to remain relevant in their chosen markets. This means that there will likely be a strong and growing need for AI consultants or maybe even an AI consultancy / agency in the coming years. These consultants will often work closely with business leaders, data scientists, and engineers to design and implement AI solutions that meet the specific needs of their clients.

You should consider getting into AI consulting if you are interested and have a good track record in technology and solving complex problems. We're not talking about McKinsey or other consulting firms, but your own practice or agency.

To get started with AI consulting, it is important to have a strong foundation in computer science and machine learning, as well as a good understanding of business operations and strategy. AI consultants will mainly assist businesses in utilizing AI to streamline their operations and reduce costs.

It's a valuable service that can help businesses run more efficiently and effectively and they'll pay big in exchange for these niche services. Industries that may benefit from AI consulting include healthcare, finance, retail, and manufacturing.

Ok sounds interesting. But what will I be working on as an AI consultant?

here are a few examples:

• Build proof-of-concepts: Clients can come to you with an AI solution in mind and ask you to create an MVP and find a target market.

• Machine Learning and artificial intelligence software development: This one doesn't need much explanation. You can help clients develop and build full enterprise products or MVPs.

• Build automated processes that reduce or eliminate repetitive tasks, and automate data management and data collection, to reduce business costs.

• Boost the product's capability: Find ways to incorporate additional features using AI to enhance the user experience and the overall utility of the product. Identify pain points pain in your client's market and implement AI solutions to tackle them from a new angle.

What companies will decline these services / offers? not many.

Unless they want competition to run laps around them!

Untapped Healthcare AI market

The healthcare AI market is considered to be in its early stages due to its small size compared to the overall potential market. In 2019, the global market for healthcare AI software was estimated to be $823 million, making it the sixth largest industry for AI revenue, but only a small portion of the total $16 billion AI software market. However, it is expected to grow significantly in the coming years, reaching over $10 billion in 2025. This growth will be driven by the large size of the healthcare equipment market and the availability of investment for the healthcare industry. Despite the potential for healthcare AI, the market remains largely untapped due to the technology still being in the early stages of development and facing regulatory barriers. There is also a lack of understanding about the value of AI among many healthcare providers.

This is a really interesting topic, which is why we decided to look around to find out current use cases for AI in healthcare to get a better idea of what's possible today.

here are a few that we found:

• ClosedLoop.ai: Healthcare's Data Science Platform

• Isomorphic Laboratories: AI for drug discovery (side note: 90% of the AI healthcare startups/companies we came across were in drug discovery) but this one is founded by Google's parent company and their CEO is Demis Hassabis, who is also the CEO of DeepMind.

• Cleerly: AI for cardiac imaging

keep in mind the space is relatively new and we hope none on this list will go on to become a future Theranos.

Run The AI: PPPs

Pick up (learn):

Scroll down to see the pic of the day -The Generative AI Landscape.

[If you don't know what Generative AI is] it is a type of ai that is able to create new things (images, audio, video, etc) based on a set of rules or patterns that it has learned. It can be used to create things that are similar to things that already exist, or to create entirely new things. For example, a generative AI system might be trained on a large dataset of images of animals. It could then use what it has learned to generate new images of animals that look realistic, even if they are not based on any specific real-life animal.

Pilot (play):

Instant 3D Asset Generation Tool:

Person:

Person of the day in today's post is Dr. Jim Fan, a great recent follow on twitter.

Checkout his 2022 AI rewind:

Pic of the day: The Generative AI Landscape (by Antler)

How many of these tools have you used before?

That's it from RuntheAI for today.

THANK YOU FOR READING AND SEE YOU TOMORROW, SUBSCRIBE TO STAY UPDATED!