Artificial Intelligence(AI) and Machine Learning(ML) have been influential in the IT industry in recent years. The AL-based solutions that transform the various industries’ business processes offer an enhanced customer experience, bringing more revenue. The custom AI solutions cost around $6000 to $300,000.
The ongoing AI services include consulting and depend on the consultant’s hourly rate. A most consultant usually charges around $200 to $350 per hour. Suppose your company uses third-party AI software for the pre-built chatbot. They charge up to $40,000 per year.
Factors that determine the cost of AI Developers
Artificial intelligence in which a range of factors influences the AI software costs. With your preference, which includes the custom AI solutions or pre-built solutions, the dozens of decisions influence your business’s investment in the AI. The same factors also suit for hire machine learning developers. Some of the important source of factors are listed below:
- Chatbots
- Virtual Assistants
- Project type
- Artificial intelligence features
Chatbots
Chatbots usually help your business streamline and automate and also help to improve customer support interactions. You can use your chatbots on the websites as well as on the social media platform.
With both the custom or the pre-built chatbot, a business can offer the business buyers product recommendations and even for the convenience of making a purchase.
Virtual Assistants
A virtual assistant helps the company complete the general, everyday tasks, which saves time. The virtual assistants mainly include Cortana, Siri and, Google Assistant. Some businesses require a custom virtual assistant that uses company data to respond to customer or employee questions.
Your artificial intelligence choice, whether a chatbot, virtual assistant or data analysis system, impacts how much your business pays for the AI. Hire machine learning developers in which companies ready to pay more than we expect. The pay of the company mostly depends on the employee skill and talent. The custom-built chatbot begins at $6000. Prices for the custom-built data analysis system begin at $35,000.
Project Type
For the AI companies, you can choose from pre-built solutions or custom-built solutions. If you want to incorporate a chatbot for your website, you can choose a pre-built option like TARS, HubSpot or Drift. Generally, the pre-made an options cost less than the custom-built ones.
For example: Drift usually costs from $400 to $1500 per month, while the TARS costs up to $99 to $499 per month.
For developing the custom chatbot, the price ranges from $6000 to $15000. If you want a custom solution, prepare a larger budget than the pre-built product.
AI features
AI solution usually involves how much your artificial intelligence may cost if you need a chatbot which usually integrates with the custom relationship management(CRM) software.
Or, if you are using a custom data analysis system, you can use the best AI software, such as
IBM Watson, for the high price AI software.
How much does it cost?
Some years ago, tech powerhouses such as Google, Microsoft, and Amazon afforded to have their AI solutions developed for the business. Still, now the company accompany the power of machine learning technology at a reasonable cost.
In general, With the increasing advancement of the various tools and frameworks for developing AI-based solutions. The companies can hire ai developer and set up their own in-house AI team to engage the long-term projects or outsource the AI project to an external client. Some of the price tags of the AI positions. Some of the recent research on the AI
salary is usually classified according to the following:
- AI Engineer’s salary
- Outsourcing
- Hire mi developer and dedicated AI development team
AI engineer’s salary
According to recent research, the average salary for the machine learning engineer in the USA is about $142,859 per annum, whereas other AI job makes around $100000 per year.
The data scientist earns around an average of $126.927 per annum, and the algorithm engineers make around $109,313. From this report, you can understand that hiring an AI/ML engineer can pay high compared to the other software developers.
Outsourcing
It is pretty challenging to determine precisely how much it costs to develop an AI-based solution.
The cost varies from case to case, depending on the project size, scope and complexity, and the client’s requirement.
Hire mi developer and dedicated AI development team
AI development projects usually require multiple teams: artificial intelligence, machine learning engineers, data scientist, and web developer.
The salary and the cost of hiring IT talents and training them could be extremely high due to the high market demand.
Conclusion
In recent years, the cost of hire AI developers has been very high, and there are many opportunities available for AI developers in the market.
The AI developer cost generally depends on the above mention factors. Cost generally involves the project’s structure and according to the client’s requirement.
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