Is GPT4 a herald of The Singularity for the modern hype times of post-truth technologies? How much does artificial intelligence cost?
By 2030, artificial intelligence could contribute from $15.7 trillion to an X-fold increase to the global economy, with increased inhuman productivity and hyper-automation and hyperintelligence.
These are the top 5 factors behind AI cost:
- The type of software you’re eyeing to build;
- The level of intelligence you’re aiming for;
- The amount and quality of data you’re going to feed your system;
- The algorithm accuracy you’re hoping to achieve;
- The complexity of an AI solution you’re working on.
Analysts predict spending on AI systems reached nearly $118 billion in 2022 and will surpass $300 billion in the next few years.
Custom AI solutions cost anywhere from $6000 to over $300,000. This price tag includes development and rollout. Ongoing AI services, like consulting, generally cost less and depend on the consultant’s hourly fee. Most AI consultants charge $200 to $350 per hour.
If your company uses third-party AI software, like for a pre-built chatbot, expect to pay up to $40,000 per year. In some cases, your business may find free chatbot applications that meet your needs, though these mostly work for entrepreneurial operations.
Your AI choice, whether a chatbot, virtual assistant, or data analysis system, can impact how much your business pays for AI. Rates for a custom-built chatbot, for example, start at $6000. In comparison, prices for a custom-built data analysis system begin at $35,000.
If you’re looking to incorporate a chatbot into your website, for instance, you may choose a pre-built option like Drift, HubSpot, or TARS. As expected, these pre-made options cost less than custom-built ones.
Drift, for example, costs $400 to $1500 per month while TARS costs $99 to $499 per month.
In comparison, prices for developing a custom chatbot can start at $6000 and go up to almost $15,000.
Building a complete AI analysis system can encompass several stages, from a minimum viable product (MVP) to a full product rollout. That process can take up to a year in some cases. An AI MVP, for example, often takes four to six months to generate.
Depending on the type of training data (e.g., abstract vs. figurative art), image resolution (HD vs. low-resolution output images), and deployment approach, the cost of building an MVP version of an AI-driven art generator system could reach $19-34 thousand.
A basic version of a video/speech analysis AI platform may cost $36-56 thousand.
The development, testing, and deployment of a similar artificial intelligence platform (MVP) would cost you anything between $20 thousand and $35 thousand.
When the tech giant aims to remain at the forefront of generative artificial intelligence after the arrival of OpenAI’s ChatGPT and generativeAI only a few years after the hype cycle over the metaverse has attracted both the AI bulls and bears as tech pursues its next big thing.
