Affordability: AI and the Price Barrier
Updated: Oct 9, 2020
(Image credits: singularityhub.com)
The easiest way to make technology ubiquitous is to make it affordable. The digital revolution and platform economies became mainstream only after cellular technology reached the common people. There is a crucial price point, below which adoption rates skyrocket.
Business-focused AI needs a similar disruption. Currently, AI integration into business processes is neither cheap nor fast. Following are some use cases and the time required to implement:
A Document Sorting AI costs between $20,000 to $30,000 and takes over three to four months to implement.
An Official Facebook Chatbot costs over $40,000 and requires six months to develop.
An Insurance Fraud Detection tool costs a whopping $200k and over a year for custom implementation.
A Demand Forecasting AI Application can cost anything between $80,000 to $150,000.
Getting experienced personnel is a challenge, as freelancers often don’t deliver products at par with industry standards and there is little or no assurance of after-sale service. A team of multiple professionals, with different skill sets (AI Engineers, Data Scientist, Developers, etc) is required to develop the product. All these aspects make AI out of reach of small to mid-sized businesses.
Neuralastic is trying to change this. We developed customized AI plugins that can be easily integrated into your website or mobile application. The plug and play model helps us host the AI on our servers and ensures that our clients get the best service 24*7. Our team of AI engineers and Developers ensures that the model we provide can cater to your business efficiently. We provide business automation tools that come in all shapes and sizes and cater to a spectrum of industries from Healthcare to Hospitality. The most important aspect of the solutions that we develop is the price, starting at $149/month. Visit us at www.neuralastic.com to know more.
(Image credits: chatbotsmagazine.com)
Till there is no conscious effort to reduce the price of AI applications, we cannot see the phenomenal gains of this promising technology. The complementarities would fail to materialize and all we would be left with would be another half-baked revolution.