Estimating AI Project Costs: 4 Rules of Thumb

There’s no consensus yet on the “right” approach to AI projects. Nor agreed, proven estimating models or benchmarks for estimating AI project costs and durations.

For now, useful AI project estimating often relies more on personal experience and expectations than something more objective.

Here are four rules of thumb that may help you estimate AI projects or assess estimates presented to you. They’re especially useful when starting out with AI.

This article is for business leaders considering or using AI, as well as AI professionals responsible for artificial intelligence projects.

The Fundamentals of Reliable IT Project Estimates
Rule of Thumb 1: Get Credible AI Project benchmarks
Rule of Thumb 2: Allow for “Experimental” Phases of AI Work
Rule of Thumb 3: Balance “Optimal” and “Good Enough”
Rule of Thumb 4: Don’t Overlook Data “Gruntwork:
Estimating AI Project Costs & Timescales: Wrap-up

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