According to payscale, you need to spend around $125k annually to hire an Artificial Intelligence developer. Depending on the IT firms, individual freelancers, location, skill, experience, and engagement models, it can be more or less.
As a reputed software development company with expertise in artificial intelligence and machine learning, we often receive plenty of questions from our prospective clients. And the most asked is regarding the cost of hiring remote AI/ML developers. So, we are with a detailed article that not just reveals the factors that affect the cost of hiring Artificial intelligence engineers but also how to hire the right on under budget.
Factors that Affect AI/ML Developers Hiring Costs
When it comes to hiring AI developers, you have plenty of things to consider. But first, you need to have answers to the following questions;
- The project size
- Number of features
- Complexity of features
- Expertise level of developers
- And the type of engagement you want with the developers
When you have answers to these questions, you will precisely understand your expectations from AI developers. You might be puzzled seeing whether these factors impact the cost to hire an Artificial Intelligence developer. So, let’s explore them one by one.
The Project Size and Scale
Every project differs in requirement based on the project size/ scale, and so the cost varies depending on the type of project, features, and complexities. In short, the size of the project will directly impact the cost of hiring Artificial Intelligence or Machine Learning developers. Based on the project size, you can decide the level of expertise you require and the duration you need to engage an engineer.
Small Scale AI Projects
When a project size is small, you may not require an army of AI developers. A single AI expert or a group of two consisting of a developer and a QA can fulfill your requirement. At the same time, it will consume less time for small-scale projects.
A small-size project also consumes less time as it comes with limited features requiring minimal integration, lower development time, and engagement of Artificial Intelligence developers. All these lead to a lower cost of hiring AI developers.
Mid-Sized AI Projects
Mostly, mid or medium-sized projects require more work than small-sized projects. For example, you may need to have additional features such as;
- AI Voice Assistants Integration
- Chat Powered by Artificial Intelligence
- Other AI-Powered Modules
So, the number of developers and hours will be a little more than that of it is required for small-sized applications.
Enterprise or Large Application
Usually, when it comes to Ai modules development for enterprises, it could be pre-or custom-built solutions. For example, AI solutions like Chatbot come in both pre-built and custom-built. If you opt for a pre-built solution, you grab this ranging from $99 to $1500 based on your requirement. But, you cannot expect 100% customization. That means a pre-built AI solution, like Chatbot, costs $99-$1500.
The other option is to get it developed by hiring AI/ML developers or outsourcing your project to a software development company specializing in Artificial Intelligence development. Custom-built AI solutions come with plenty of benefits. It’s not just about chatbots; AI and ML can help you build plenty of solutions for various industries. For example, you can integrate Ai into your medical devices, smart wear, and more. Recently, we have built a solution for MedTech and Smart OR.
These are custom build solutions, and you get the flexibility to make them more personalized for your business endeavor.
Number of Features and Their Complexities
Features are an essential part of any solution. For example, there are plenty of smartwatches powered by AI available in the market, but it is features that make them different from each other.
The features you want in your AI solution will also impact how much the AI/ML solution will cost. Even the cost of a pre-built solution will depend on the number of features it has. Now, coming to the custom build Software, you may need to choose what you want to integrate. For example, the components will differ when you integrate them with your company’s CRM or medical devices. Some of the common characteristics of Ai include;
- Data Ingestion
- Deep Learning
- Facial Recognition
- Automate Simple and Repetitive Tasks
- Quantum Computing
- Cloud Computing
These are standard modules, or you can say the features you might need to integrate into your Ai solutions. Now, the cost of the Ai solution will depend on the complexity of these features, the number of hours it takes, and the skill level of the developers.
How to Hire AI/ML Developers
As you have understood the factors that impact the hiring cost of ai developers, now the need to understand the other aspect of hiring AI/ML developers. You need to play smart to find the right developers and develop the solution that perfectly fits your requirements.
Evaluate your requirement
You need to evaluate your requirement as everything, whether features or hiring ai/ml developers, will depend on the type of project you have. Your requirement evaluation should include;
The type of project you want to build requires a brainstorming session. Prepare a project scope, and you will easily find what you need and what you require for it.
Depending on the project scope, you can decide the skill level of the AI/ML developers you hire. Skills can be distinguished between;
- Basic skills
- Advanced level skills
Basic skills: If you want to build a basic solution, such as a weak AI chatbot to perform basic tasks, you can hire AI developers with basic skills. Now, the cost of hiring developers will range anywhere between $30k to $128K depending on developers’ region and skills level.
Advanced level skills: Developers will have advanced skills when building mid or enterprise-level solutions. For example, these developers are experienced and have worked with various industries, and hence they understand the project scope perfectly. However, the cost of hiring those developers will widely differ.
|Regions||AI Developers (Hourly rates)||ML Developers (Hourly rates)|
The costs we have given here are based on the inquiry done by our team. Hence, it can differ from one software development company to another.
When it comes to hiring a/ml developer, the project requirement should be kept in mind, and after going through proper inquiries and consultation, the final decision should be made. Suppose you want to explore more in detail or explore more about AI development. In that case, you can connect with us. We shall help you hire developers who will not build a robust solution and provide comprehensive Artificial Intelligence development services cost-effective. Let’s connect.
We’re technology experts with a passion for bringing concepts to life. By leveraging a unique, consultative process and an agile development approach, we translate business challenges into technology solutions.
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