The concept of MVP and its importance has become a very important concept in the context of software. This notion, although it does not meet the requirements of all clients, it does have enough features to get any of them started and to give you valuable feedback. In the world of AI, the importance of MVP is as important if not more.
In the case for larger companies, the MVP serves very similar purpose to the development of Proof of Concept (POC). As for the smaller companies and startups, the MVP serves in onboarding the early adapters of the clients and allowing you to start getting revenues early on to finance the project, and more importantly to get the needed feedback in order to spend the budget optimally.
What makes the MVP more important in the case of artificial intelligence projects is that, more often than not, the core added value of the entire development lies within the core functionality. Thus building the MVP will be important for:
• Allows you to focus on the core
• It will satisfy more clients than other standard software projects
This means that the initial feedback will be much more valuable as it will be aimed directly at the core. This will also give you flexibility in designing the additional features of the product, making its use easier and thus making the product more and more attractive to the market. It is needless to say that the role that your AI partner plays in all of this is very important and may as well be the deciding factor in determining if the projects is successful or not.