While we are a few years out from realizing the true impact of AI, investment must begin now. Investing in AI early is crucial to stay ahead of the competition with a sustainable competitive advantage, and if AI isn’t captured within current IT budgets, companies may be left behind. As spending on AI escalates, companies may face mounting pressure on capital reserves which would otherwise be used for other revenue-generating activities.
The upshot? Leasing or financing can help companies acquire the necessary tools and equipment to integrate new technologies in the timeframe that works for them, and without placing additional pressure on capital reserves.
By strategically partnering with a payment solutions provider, companies can preserve liquidity. For example, at DLL, we assume the capital expenditure burden for our partners, empowering them to prioritize growth and other strategic objectives.
Future-Proofing AI
The evolution of AI has led to significant advancements in today’s sophisticated systems. Large language models (LLMs) and EvolutionaryScale (ESM3) have already contributed to groundbreaking discoveries and continue to improve each day. While AI adoption offers substantial benefits, integrating these systems with up-to-date technology, hardware, and equipment is even more important, as:
- Newer technologies often provide better performance, efficiency, and accuracy. For AI models, this can mean faster inference times and improved predictions.
- Up-to-date systems address vulnerabilities and security risks. AI applications handle sensitive data, so robust security measures are crucial.
- Staying current ensures compatibility with other software and hardware components. Mismatched versions can lead to integration challenges.
- The latest tools offer enhanced features, such as better model architectures, optimization techniques, and scalability.
As with other technology, obsolescence is an important reality for companies to consider. All technology evolves rapidly, and acquiring and owning AI hardware can present risks if the technology becomes obsolete. Accessing the latest technology and hardware isn’t always so simple. Depending on unique IT, financial, and business needs, it can be challenging to access the right technology promptly. The solution? Leasing or financing AI integration.
Leasing or financing can mitigate this risk as leasing agreements often include provisions to allow for planned or unplanned upgrades to newer technology, ensuring businesses can benefit from the latest AI technology. Technology financing provides companies with the flexibility to scale operations up as needed; companies can adjust the number of AI tools as needed, avoiding unnecessary costs.
Collaboration as a Competitive Advantage
Embracing AI technology is no longer a choice—it’s a strategic imperative in today’s dynamic business landscape. While AI implementation presents challenges, it also opens doors to unprecedented growth and innovation. For those committed to AI transformation, developing a clear roadmap is essential to harness its full benefits. This includes working with an experienced financial solutions provider that understands your business, offers flexible solutions, and supports the growth of your bottom line.
In addition, a strategic financing partner will consider companies’ needs beyond the asset lifecycle. For example, for companies with sustainability at the forefront of their business strategy, working with a tech financing partner that promotes more sustainable and responsible business models, is vital. At DLL, we offer our partners solutions based on lifecycle asset management, such as IT asset disposal services, extended usage, redeployment, and second life finance. Some customers may not yet be prepared to upgrade to the latest technology. Simultaneously, may not want to take ownership of the equipment at the end of the lease, for different reasons. In this situation, DLL offers a flexible lease renewal for 6-12 months, allowing the customer to bridge the gap until they’re ready to take the next step.
Regardless of your companies’ requirements, a strong collaboration with a financial partner who understands the business, financing and your companies’ unique financing needs is paramount.
Unlock Your Company’s AI Potential
By preserving capital, acting with agility and utilizing up-to-date technology, and partnering with a financial solutions provider, companies can develop a path for successful AI implementation.
Discover how embracing the power of technology financing can propel your company’s AI journey. Contact us to learn more.
References
Gartner, How D&A Leaders Are Shaping Generative AI Initiatives, Data and Analytics Practitioner Research Team, 30 October 2023 (For Gartner Subscribers only)
*Gartner, We Shape AI, AI Shapes Us: 2023 IT Symposium/Xpo Keynote Insights, Mary Mesaglio, Don Scheibenreif, et al., 16 October 2023 (For Gartner Subscribers only)
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
IDC Research, IDC FutureScape: Worldwide Artificial Intelligence and Automation 2024 Predictions
IDC News Release, Worldwide Spending on AI-Centric Systems Forecast to Reach $154 Billion in 2023, According to IDC
