Should we hire in-house AI talent or use a consultant?
Depends on your firm's size, AI ambitions, and ability to recruit. A senior AI engineer costs $200K-400K+, takes 3-6 months to find, and still needs PE domain knowledge they will not have on day one. A consultant gives you an experienced team immediately, with the domain expertise already built in.
Most firms that get this right start with a consultant to build the first systems, then hire internally to maintain and extend them. The consultant transfers knowledge, the internal hire runs with it. You get speed at the start and ownership over time.
The worst outcome: hiring someone internal first, waiting a year for results, then bringing in a consultant anyway. Start with the consultant. Hire when you know what to hire for.