When you’re trying to run and manage AI projects, there’s a lot that needs to be considered in terms of determining project budgets and cost. All technology projects have three major aspects of cost: software, hardware, and services. But when it comes to AI projects an additional aspect needs to come into play: data.
If you’re trying to generate a return on investment, you need to know what the investment part is. You have to know what the return is, too. But of the two things, you’re guaranteed to spend at least what the investment part is, if not more, but you’re not guaranteed anything about the return. People underestimate the complexity and cost of dealing with data. So, it’s crucial to think about how big your AI project is. Because when it comes to AI projects, size really does matter.
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