Brief:
As companies move to adopt AI, finance teams still lack capabilities to use AI in their financial processes. There is still no AI framework available for corporate finance. So how much does it cost to implement AI?
Cost Breakdown
Here are cost breakdown of a simple use case to start with:
All costs are average salaries based in the US.
Data scientist: $200K
Machine learning Engineer: $200K
Software engineer/ SRE: 180K
Product Manager/Analyst: 180K
Cloud costs: 50K
Total cost: $810K/Year
The Opportunity
By using Tadaa.ai, our client reduced the complexity of AI adoption and the cost by multifold. It also enabled finance teams to focus on their core activities of insights than spending majority of their time on day to day execution.
Points to consider
Few points to consider after implementing AI in finance
- Quantification of the benefits
- Speed of AI adoption
- Finance team training
