The original article is published on the CHI Software blog.
Mobile AI is changing the application market worldwide. In 2020 alone, it reached more than 2 billion dollars, and this number is expected to grow 5 times by 2026. So, mobile Artificial Intelligence is not a temporary trend but a promising area for business development.
Let’s find out the main benefits of mobile AI for business, why you should develop an AI-powered mobile app, how much it costs, and how CHI Software can help you out.
Benefits of AI Mobile Apps for Users and Business Owners
According to Deloitte’s Global Mobile Consumer Survey, 65 % of smartphone owners across 15 markets have already used an application featuring Machine Learning in the past. Many of these apps are designed to make our mobile experience more personalized and convenient.
Benefits of AI for smartphone users
- Voice search
- Voice assistant
- Predictive text
- Route suggestion
- Translation apps
- Email classification
- Automated calendar entries
- Location-based app suggestions
- Automated photo classification
Have a look at some popular examples of mobile apps created with the help of AI.
Advantages of mobile AI apps for business
According to recent research on statista.com, the global market worth of Artificial Intelligence is going to reach $89 Billion by 2025. It plays a key role in mobile app development, which enables businesses to develop intelligent applications that can transform and meet end-users needs more easily.
- Room for intelligent interaction with customers;
- Automation of routine processes;
- Enhanced application security;
- Cost efficiency;
- Opportunity to build a stronger brand.
How Much Does It Cost to Build a Smart App?
There is no unified price for all AI mobile apps. Still, our Project Managers assisted us in creating helpful visuals for you to have a bigger picture of what makes up the AI app cost, what factors influence the total app price, and how to calculate the cost for your AI-powered mobile solution.
We have analyzed our AI mobile expertise and concluded that the average Artificial Intelligence mobile app development at CHI Software costs between $ 16,000 and $ 40,000 with the minimum iteration of $ 5,000 — $ 6,000.
The cost of your AI-powered mobile solution is based on three main factors and some extras:
- Research cost
- Data cost
- Resources cost
Below is a list of additional factors:
- Type of AI mobile app you want to build;
- Number of the required features in the app;
- Number of app development platforms you need the app for: iOS, Android, or both;
- Number of third-party APIs used in the app;
- Software requirements specifications;
- AI mobile app security requirements;
- AI app maintenance and support.
Stages and Timeline of Mobile AI Development Project
Now that we know the factors that influence the AI mobile app price, let’s see how to calculate the cost for your application. The table below demonstrates every app development stage and its corresponding timeline.
Important note: below are the stages of AI app development using ready-made libraries that solve typical ML tasks, for example, Google’s ML Kit. Deep AI expertise is not needed to work with such libraries. It is conventional development.
As for more complex, custom ML solutions, they are solved in cycles, so as a rule, the total cycle quantity and result cannot be guaranteed and estimated in advance.
We also want to share an effective formula we use in our projects, i.e., the estimated hours or time required to build a smart AI app multiplied by the software developer’s hourly rate.
If you are still struggling with calculations, get in touch with our Business Development Managers. They will guide you through the whole research and development process and help with the calculation part.
CHI Software AI & ML Expertise
CHI Software’s AI & ML unit has been working on commercial AI projects since 2017.
Our AI expertise includes, but is not limited to, the following:
- Data Science
- Machine Learning
- Computer Vision
- Natural Language Processing
- Signal and Audio Processing
AI Engineers and Data Scientists use, in one form or another, the CRISP-DM methodology in their work. The main difference between this methodology and the conventional development mentioned above is cyclicality. It means, we can estimate the time spent per cycle, but we cannot predict how many cycles it will take to achieve the required results, nor can we guarantee their achievability.
The core services for business we provide:
- scientific research and consulting;
- full-cycle software products development;
- integration of ready-made AI solutions to your business;
- initial AI solutions improvement;
- improvement of user targeting, risk management, and forecasting.
Our in-house AI and ML experts are Technical Leads, Data Scientists, ML Engineers, MLOPs, Software Testers, Business Analysts, and Project Managers.
Mobile apps still enjoy the most demand and popularity both for business owners and their users. Enhancing AI technologies, the mobile apps market is gaining even more perspectives.
It does not mean your business has to go big and create a complex AI mobile solution from scratch to keep up with the competition. The good news is that there are many ways to succeed. Full-cycle development is optional for AI solutions; sometimes, integration of the ready-made AI solutions to your business, or some initial product improvements, can make a difference.
That’s where CHI Software has the expertise and desire to help. Our AI & ML team conducts profound scientific research before any further steps, so you can receive the AI solution that suits your business needs best.