he decade’s most popular buzzword is “AI” (artificial intelligence), which you can use before anything to make it sound more upscale and advanced. As a result of its ability to streamline processes and provide individualised insights, artificial intelligence is attracting a lot of attention. The world around you is now directly or indirectly interconnected with AI.
Let us say that you are reading this blog using a device. A virtual assistant that responds to your commands, such as Cortana, Siri, Google Assistant, etc., must be accessible on every device, whether it runs on Android, iOS, or Windows. In your opinion, how do you think it is achievable? Technologies like AI and ML hold the key.
Various mobile applications harness the power of AI to provide users with improved services abound on the market. A contemporary method of creating mobile apps that offer more than just a solution is artificial intelligence.
Whether we like it or not, artificial intelligence-based mobile applications are now a part of our daily lives, and users rely on them more than ever. We constantly seek out new experiences since the human mind has a shorter attention span. AI assists us in developing original solutions to entertain people. People frequently believe that it must be expensive when taking into account all these insights. Continue reading to learn how much it costs to create an artificial intelligence app.
Statistics on the Artificial Intelligence Market
Several innovative solutions have come to light during the past decade and most of them have employed AI. As a result, it can be claimed that artificial intelligence is helping the software industry expand. The rising use of AI and similar technologies is due to the fact that they lessen the overall effort, time, and cost of developing a mobile app.
The current market projection for the creation of AI-based applications predicts growth at a CAGR of 22.5% from 2020 to 2025. By 2025, the total market is anticipated to be worth 580 million USD.
Because of the exponential growth of apps worldwide, enormous amount of data need to be managed. It is therefore appropriate to claim that big data is propelling the software industry. In addition to data management, these data sets are used to discover more about the users and provide them with products and services that perfectly match their needs. The frequent usage of NLP technologies is the root of all this.
Asset tracking apps are among the types of applications that are or will be popular between 2020 and 2025. Companies all around the world are increasingly more concerned with managing their resources; AI aids in asset tracking and lowers operational costs. Although this industry still has some challenges to resolve, it’s the ideal genre overall.
Since businesses began to understand the full potential of AI-related technologies and the advantages that come with AI, demand for commercial applications of AI has increased.
Factors that determine the cost of overall app development with AI
It does take resources, effort, money, and many other things to turn an idea into reality. Depending on specific factors, every app development process progresses through various stages. Each stage of the development process is interconnected, and this influences the overall cost to vary.
The cost of marketing, advertising, distribution (in some scenarios), and maintenance must be included even after the mobile application has been developed and delivered. Nevertheless, a few mobile app development companies provide free maintenance for a while after delivery. Let us determine what influences the total cost of the development process.
1. Defining the Ideal Business Goal
There are many different company models on exhibit in the current market scenario. Since this stage of the development process contains market research and planning that will have an impact on the app’s future, it must be regarded as the first and most crucial stage. AI applications differ in some ways from traditional applications and their development demands special consideration.
It is crucial to conduct diligent market research to guide the process. In order to lay the foundation for an amazing AI-based app, you will need both time and money to conduct market research. In-house marketing is great, but if you want to hire a marketing firm, it will cost you money. Alternatively, you can purchase a market research report directly on the web, which is genre-based and delivers factual information.
2. Determining the variables
Artificial intelligence-based app development involves a huge number of factors. Your expectations and the potential users will determine how many of these factors you need. These factors include:
- Number of features in the app
- Types of AI
- Platform Selection
1. Number of features in the app
The first thing a user will check is the features of any app they intend to use. The probability of the app being used largely depends on the features’ compatibility with the user’s needs. On the other hand, integrating features requires expensive tech stacks.
Consider the scenario where you wish to create a laundry app for the users. It must provide a list of essential features like login, account, payment, etc. Now, the price will change when we include AI in the app and include a feature that determines the date for the following laundry order based on the user’s preferences or prior purchase history. With every additional feature, the same process will be repeated. Consider one more instance. It will take a lot of extra time and the integration of the Google Maps API to show users the feasibility of location tracking.
Nevertheless, this does not imply that your app should have fewer features; rather, it should have features that fulfil its basic core purpose.
2. Types of Business Application of AI
AI-based apps should be designed with the right application that fits with the app’s business requirements since every industry has its own processes; some sell services, others manufacture products. The following are some examples of AI applications that you might want to integrate into your app.
- Process Automation: A whole business process is automated by this application, such as assembly lines and application testing.
- Machine Learning: It learns previous experiences and creates accurate results. It is mostly used in service-related businesses.
- Voice Recognition: Users’ voices are recognised so that various tasks can be carried out using them. Additionally, it allows the use of voice commands for a number of related tasks.
- Machine Vision: It is frequently used in the healthcare sector to learn more about image-based automatic inspection and analysis.
- Chatbots: This is used to either manage the customer’s queries or the whole operation in some cases.
3. Platform Selection
The world gets divided into two camps when it comes to Android and iOS users. Both prefer their platform more than anyone else. In order to build an app, developers must consider these factors when choosing the platform. It is not only the user base that determines the cost of each platform-based development, but also the features, tech stacks, etc. that make them unique. You can also choose the third option, which is to develop a cross-platform app, but it will be a little more expensive than developing a single-platform app.
3. Development Phase
It is best to begin the development phase as soon as you are sure about all the variable factors. However, they can still change during development. Costs are also influenced by the development process being followed by the development partner. Companies deliver accurate results through different development sequences.
4. Application’s Complexity
Developing mobile applications is a unique process, just like everyone has a unique way of thinking; every project is different. If you are truly committed to delivering a unique experience to your users, you want to make the app as enriched as possible, which means investing in tech, time, and money. The app development process is complex and takes a lot of time. Let us take a closer look.
- Simple Apps: It will take about 350 to 450 hours to finish the AI-based apps with basic features and tech.
- Moderate Apps: There are some advanced features in these apps and they are tailored to the specific requirements of the clients. It usually takes about 500 to 800 hours to be completed.
- Complex Apps: The apps offer multi-language support, custom animations, and advanced features. In general, it takes about 800 to 1500 hours to complete.
5. Team Requirements
The specific needs of an app will determine the ideal team size. There are numerous uses and implementations for any artificial intelligence-based mobile application. You need to assemble a team to carry out the process if you want to create a great mobile app. However, you can choose to hire a team in accordance with the project’s requirements. Hiring a team will cost you money.
How much does it cost to create an artificial intelligence app?
App complexity is primarily caused by the app’s functionality and features. A simple AI-based app with just a few features will cost around $20,000 to develop. Additional factors include the need for custom integrations, animations, etc. A complex app with many features can cost up to $60,000.
If you want to create an artificial intelligence app, you can get in touch with CloudXperte. We are a professional web and app development company that has won the trust of many customers. We offer comprehensive app development services. Using our developers, you can save money on AI-based app development costs and get your app developed to its full potential. CloudXperte’s highly skilled developers can work on complex projects and deliver them on time.