- The AI Exchange
- Is AI In Your Budget?
Is AI In Your Budget?
Box's unique AI pricing strategy; creating custom illustrations with DALLE-3 and Bing Chat
Welcome to another edition of the best damn newsletter in AI.
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Our #1 goal is to be useful. So please shoot us an email 📩 if you have questions or feedback, and especially if you implement something we share!
Here's what we're covering today:
Why there aren’t easy to follow blueprints for AI-powered businesses (at least not yet)
4 actionable steps to go from one-off ChatGPT uses to working AI-first
A soft announcement for you 🤫
Let’s get to it! 👇
Is AI a line item in your budget?
AI is no longer a novelty. It's becoming a staple in many companies' budgets, and as such, cost management is becoming increasingly important. And this latest move by Box, a cloud content management platform, caught our eye.
How Box is pricing AI
Box has AI features that let you summarize and chat with your Box documents. And they just unveiled their new pricing plan for business.
Here’s how it works:
Users get a certain amount of “credits” per month
If they use those, they can use “rollover” credits paid for by their organization.
It kind of sounds like cell phone minutes, and feels like a unique approach to recovering the high cost of operating large language models.
Now obviously, software products like Box, which have AI usage and rack up hefty OpenAI bills, are thinking ahead.
But it's not just them.
Companies and businesses across the board are starting to see AI as its own line item in their budgets.
Just last week, we started discussing having a distinct budget for AI in our operations. Previously, we had bundled it into software costs, but as AI becomes more prevalent, it's clear that it needs its own category.
4 trends in AI “costs vs pricing vs value” we are watching:
As AI becomes more integrated into our operations, the cost of using it is becoming more apparent.
Yes, $1000 a month on a piece of software might seem insane. But if that AI can save you about 30 hours per month of a $35 employee's time, it more than pays for itself.
As AI becomes more prevalent, companies need to start planning for its costs. This means creating a distinct budget for AI and ensuring that it's cost-effective.
Companies like Box are coming up with unique pricing strategies to recover the high cost of operating AI. This could set a precedent for other companies in the future.
As AI continues to become more integrated into our operations, it's clear that we need to start thinking about its costs. It's no longer just a part of software costs; it's a line item in its own right.
And it’s clear that AI product providers are thinking about this too.
Using DALLE-3 and Bing Chat to get custom illustrations
Custom art and illustrations are getting easier and easier for non-artists.
We loved Alvaro’s share on how to get DALLE-3 to make an illustration that looks like something hand-drawn.
Draw a logo or illustration by hand
Go to Bing Chat and upload the image, and ask it to describe it in detail
Then ask Bing Chat to generate an image based on that description
For your reading list 📚
Old tools are getting more upgrades…
Dropbox is jazzing things up with a sleek new interface and an open beta for its AI-powered universal search feature, Dash. We’re fans!
Klarna launched an AI-powered image-search tool for shopping.
Adobe's Illustrator is getting a generative AI upgrade - the world's first for vector graphics.
Copyright and transparency are still sticky issues…
And if you're really nerdy...
AI's environmental impact is under scrutiny, with new analysis suggesting generative AI could increase Google Search's energy use tenfold. Time to power down, perhaps?
We'll see you again on Tuesday. Thoughts, feedback and questions are much appreciated - respond here or shoot us a note at [email protected].
🪄 The AI Exchange Team