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Off the Shelf vs Custom Software: Making the Right Choice for Your Business

Trigent

Here’s all that you need to make an informed choice on off the shelf vs custom software. While doing so, they have two choices – to buy a ready-made off-the-shelf solution created for the mass market or get a custom software designed and developed to serve their specific needs and requirements.

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Taktile raises $20M to help fintech companies test and deploy decision-making models

TechCrunch

The logic behind many fintech companies’ automated decisions — decisions that determine whether a customer is approved for a credit line, for example — is hard-coded into their app’s backend. “This round will help us further accelerate our ongoing expansion in the U.S., ” Image Credits: Taktile. .

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Generative AI is a make-or-break moment for CIOs

CIO

Examples include GitHub Copilot, an off-the-shelf solution to generate code, or Adobe Firefly, which assists designers with image generation and editing. One example is a model that supports sales deals by connecting gen AI tools to CRM and financial systems to incorporate customers’ prior sales and engagement history.

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Automated Claims Processing: Using RPA and Machine Learning to Manage Insurance Claims

Altexsoft

Look at just one example: WeSure, the insurance platform stemming from the messaging app WeChat, celebrated over 55 million users on its second anniversary. And when it comes to decision-making, it’s often more nuanced than an off-the-shelf system can handle — it needs the understanding of the context of each particular case.

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Next Best Action Marketing: How to Implement Hyper-Personalization with Machine Learning

Altexsoft

In this article, we’ll discuss what the next best action strategy is and how businesses define the next best action using machine learning-based recommender systems. The funnel for each customer is unique as each customer learns about a company or its services at their own pace and style. This changes the game for marketers.

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Know before you go: 6 lessons for enterprise GenAI adoption

CIO

Many organizations know that commercially available, “off-the-shelf” generative AI models don’t work well in enterprise settings because of significant data access and security risks. For example, in customer support, you’ve likely heard “This call may be recorded for training purposes.”

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Palantir alums raise $25M from Peter Thiel’s Founders Fund and other VCs for their finance startup, Mosaic

TechCrunch

Along that journey, we tried all the off the shelf tools that exist and they had a really hard time keeping pace with the needs and the requests of the business,” CEO Moallemi recalls. “We It’s pulling down data from disparate systems, it’s doing ad hoc Excel formulas, it’s often one-off analyses.