Raghu Ramanathan, president, Legal Professionals, Thomson Reuters, and David Wong, chief product officer, Thomson Reuters, shared their insights on evaluating AI vendors during a webinar with Morgan Lewis partner Rahul Kapoor and associate Shokoh Yaghoubi.

They offered advice on evaluating a vendor’s technology expertise, support services, and transparency. Also, they shared how firms and organizations can mitigate the risks posed by acquiring a vendor’s AI services while maximizing their investment in AI.

To start the process of assessing potential AI vendors, Ramanathan noted it’s important to consider whether you want a consumer- grade model – that’s cheaper – or a more reliable professional-grade model. He emphasized three criteria to focus on when choosing an AI vendor:

  1. “What’s your philosophy and principles around how AI should be used?” He said asking a vendor this question allows you to see if your firm’s vision and long-term strategy and roadmap are aligned with the vendor’s approach.
  2. Request a vendor’s references and testimonials. Ramanathan explained that firms and organizations should ask vendors how many customers are already using their solutions. “AI is still a game of scale,” he said. “You don’t want to be the first customer training a model.”
  3. Clarify the level of support and training a vendor provides. Ramanathan said this is key to ensuring that all levels of staff are trained and can use the AI solutions constructively.

To check out more highlights from their conversation, click here.

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