The progress made in the last 20 years in the field of statistics have made it possible to develop predictive algorithms that are much more efficient, especially in terms of precision. What are the possible applications in the field of cost estimation and modeling? While traditional analytical models based on the manufacturing processes of the product or service are still widely used in our Cartesian society, statistical models are gradually imposing themselves to their formidable efficiency. But rather than an opposition, these two methods are enriched and complement each other.
Project Managers and product owners can easily estimate how much time and money will a standard development project require. However, estimating the time of delivery and internal cost of AI project, the based feature might be tricky. There are a lot more variables influencing the time of delivery and price of such project in comparison with standard software development. Below you will find an information on how to price an AI project.