Managing costs and pricing – AI is expensive

As you may recall, we discussed the costs associated with building an AI/ML program in Chapter 2 and Chapter 3. Formulating a pricing strategy will be a highly personalized experience that will involve a number of factors, from the comparative prices of your competition to the operating costs for managing your AI/ML infrastructure and workflows. In this section, we will briefly cover the various aspects of AI product management that impact costs and how to use this knowledge to inform your pricing strategy so that you’re aware of the main contributors to your AI/ML program costs.

Given the high cost of operating, you’ll want to be sure that your product serves the needs of your market and your customers as quickly as you can. Keep in mind that your costs are likely high when managing an AI/ML program, but they’re also dependent on how many AI features you’ve built into your product, particularly if...