How Much Does an AI-Powered Assistant Cost?

Intelligent virtual assistants (AI) are widely used in modern businesses to assist human assistants. An AI-powered assistant usually helps run an automated data entry system and perform interaction tasks, allowing employees to focus on core business activities.

An AI-powered virtual assistant directly impacts your business growth, productivity, and profitability. This article discusses intelligent virtual assistants, their core technologies, and their benefits to businesses and shows how to find your best fit. Keep reading to explore this new business growth hack!

What Is an AI-Powered Virtual Assistant?

An AI-powered virtual assistant is a software that leverages artificial intelligence and natural language processing to perform various tasks like a human assistant. Human assistants use them to help with customer interaction tasks, such as order management and appointment scheduling.

AI-powered virtual assistants differ from traditional ones in many ways. For instance, they are more proficient in natural language understanding, facilitating more context-aware and sophisticated conversations.

Additionally, programmers design traditional assistants for basic commands and predefined tasks. In contrast, intelligent assistants perform complex tasks, expressing versatility in task execution. Nevertheless, they still depend on the human touch for more complex tasks like writing and customer service.

Below are three key features and functionalities of AI-powered VAs:

1. Use of Natural Language Processing (NLP): This feature allows intelligent VAs to understand and interpret natural language and mirror human conversation. NLP ensures accurate comprehension of diverse language nuances, fostering seamless communication and a user-friendly experience.
2. Versatile Integrations: You can seamlessly integrate AI-powered assistants into many platforms and devices, not just mobile interfaces. These assistants help users achieve cohesive and omnipresent interactions across various platforms.
3. Continuous Learning and Adaption: Intelligent assistants thrive on machine learning, allowing them to learn through user interactions. This continuous learning aids adaptation to enhance service delivery. It allows intelligent VAs to tailor experiences based on users’ preferences or improve responses to FAQs.

The Cost of AI-Powered Virtual Assistants

The cost of AI-powered assistants varies from one provider to another. While some charge monthly subscriptions, others charge a one-time setup fee.

However, the average cost of intelligent VAs lies between $20 – $500 per month for subscriptions and between $100 – $1,000 for one-timers. Nevertheless, higher-tier subscriptions may cost higher for delivering tasks.

Costs of using different AI Assistants

AI assistant prices depend on the type of problem they are trying to solve. Simple generative AI-assistants such as chat-gpt can be free to use. But more specialized use cases do come with a premium. Here is how much an AI powered assistant might cost in its category:

Chatbots: Starting from $15
Meeting Minutes Taker: Starting from $10
Coding: Starting from $12
Hiring & Resume screening: Starting from $25

Benefits of Using AI-Powered Virtual Assistants

There are several benefits of using a virtual assistant; however, intelligent VAs offer much more. Below are five advantages AI-powered virtual assistants offer:

1. Improved Efficiency

Users delegating routine tasks to AI-powered assistants free up more time for important and value-added activities. Intelligent VAs can easily automate repetitive tasks like updating calendars, scheduling meetings, and managing email correspondences.

Doing this avails users the time, energy, and focus toward strategic activities that contribute directly to increased productivity.

2. Enhanced Customer Support

Your assistant can aid in customer support through order management, inquiry response, and issue resolutions. With human direction, they perform these roles more timely and sometimes accurately than traditional VAs, leading to improved customer support and increased loyalty.

3. Cost Savings

Businesses save significant labor costs with intelligent VAs handling routine tasks. They get more with less, considering the timeliness and all-around availability of IVAs. Additionally, the increased efficiency and productivity from using these assistants reduces the business’ overall running cost, increasing its profit margin.

4. 24/7 Availability

Unlike traditional human virtual assistants, you’ll enjoy all 24/7 availability with Intelligent VAs. They require no sleep or break and are not constrained by location or time zones. So they offer round-the-clock assistance to employees and customers, keeping your business in smooth and constant operation while addressing inquiries promptly.

5. Data-Driven Decision-Making

While interacting with users, intelligent VAs capture and analyze data on customers’ behaviors and preferences. This analysis gives businesses insight into trends, patterns, and users’ preferences, allowing them to make data-driven decisions about products and services for improved customer experience.

Key Considerations When Choosing an AI-Powered Virtual Assistant

According to statistics, 46% of businesses in the U.S. use AI and chatbots. While there are multiple VA options, you must choose one that fits your needs. Hence, this section outlines five factors to consider when selecting one to help you choose the best!

1. Integration Capabilities

Integration capacity is an important consideration when choosing an intelligent VA. Always check whether the application can integrate seamlessly with your preferred platform and software tools. Ensure compatibility with your project management systems, media platforms, and email clients before choosing an app.

2. User-Friendliness

The easier an AI-powered VA is to use and navigate, the more benefits it offers. So, choose an intelligent VA with intuitive navigation and a user-friendly interface. Such a VA encourages continuous engagement and a satisfactory customer experience.

3. Customization Options

When exploring your options, it helps to consider the customizability of an intelligent VA in line with your business needs. Ensure your preferred VA’s backend has customizable options compatible with your automated data entry system.

4. Security

Data loss and hacking through your assistant can cause serious harm to your business. So, check the security your AI-powered assistant offers and verify its reliability. You can also look up the creators’ reputation for further assurance.

5. Pricing Models

Your budget is another important factor to consider when choosing an intelligent assistant. When exploring your options, consider their cost and pricing model compared to your budget and estimated returns. Then, choose an option with the most flexible pricing model and the best returns.

Type of AI Technology Used for Virtual Assistants

Each intelligent virtual assistant uses a different AI technology or tool. This technology or tool may be simple or advanced, sometimes a combination. Thus, this section explores some AI tools used by popular virtual assistants.

1. Chatbots

Artificial intelligence chatbots are software programs that simulate human conversations. Chatbots use NLP to understand and interpret human languages. Their primary function is to discern the intent of a user’s query and provide the most appropriate response.

2. Scheduling Software

Scheduling software uses artificial intelligence, NLP, and machine learning to schedule and coordinate meetings with diverse teams and organizations across different time zones. It saves businesses time and labor for manual scheduling and helps improve meeting attendance and engagement while providing automated CRM updates.

3. Natural Language Processing (NLP)

NLP is an artificial intelligence technology that allows computers to recognize and understand written or spoken natural human languages. This is an advanced AI technology all intelligent virtual assistants use. They use it to convert human speech to form that computers understand for processing.

4. Machine Learning

Independent and adaptable assistants use machine learning to perform operations without direct instructions. Machine learning is an advanced AI technology where algorithms and statistical models help computers draw inferences from data patterns and perform tasks independently.

Scope of Services of an AI-Powered Assistant

An intelligent virtual assistant can perform many services, from standard administrative tasks like scheduling to specific ones like customer support. The scope of service of a VA depends on the AI tools and technology embedded and what the human assistant wants to delegate. Consider four popular services AI-powered assistants deliver.

1. Email Management

Intelligent virtual assistants help human assistants manage email by categorizing, sorting, and replying to emails. Since they function as email management tools, they optimize email communication for a streamlined workflow to avoid information overload and missed deadlines.

Here are some key responsibilities of an email management VA:

• Prompt response
• Email sorting and filtering
• Decluttering and unsubscribing
• Inbox organization

2. Scheduling

AI-powered scheduling assistants assist with timely and efficient meeting coordination for internal teams and external clients. Automated meeting scheduling saves time and labor while eliminating errors and conflicting schedules.

Below are some top functions of a scheduling VA:

• Time blocking
• Efficient Scheduling
• Automated Reminders
• Team coordination

3. Data Analysis

Data analysis is a more specialized organizational task, but one you can delegate to an intelligent virtual assistant. Through interactions, AI-powered VAs collect users’ data and analyze it in real-time to learn behavioral trends and preferences. Businesses can then leverage this data to make informed decisions about improving products and services.

4. Customer support

Human assistants can also use intelligent virtual assistants for customer support to promote customer satisfaction and loyalty. Customer support VAs provide swift and accurate assistance when handling customer inquiries, troubleshooting issues, and processing orders. Their services save businesses labor costs and help in resource optimization.

Experience and Expertise of the Assistant

While AI-powered virtual assistants offer many benefits, they do not completely replace human virtual assistants. Some features remain unique to human assistants. For instance, AI-powered chatbots can readily provide basic information, but you need human assistants for complex queries.

These human assistants leverage their skills and experiences to increase productivity and generate reasonable investment returns. Their programming and data analysis skills often allow them to better command AI-powered assistants for increased productivity.

When human VAs receive programming, machine learning, and NLP training, they gain proficiency with AI tools. This allows their employers to enjoy the best of both worlds!

Can you use AI Powered Assistants with Humans?

Thus far, you’ve seen that intelligent virtual assistants are software programs that imitate human assistants to perform automated tasks. The article also showed some key technologies AI-powered assistants use, such as natural language processing and machine learning.

As established throughout the article, an AI-powered assistant has several benefits, but regardless of advancements in AI, they still need human intervention. 

These days many VA providers offer virtual assistants with AI-powered features for various services, from scheduling to sales and customer service assistants. For instance, there are services that integrate dedicated executive assistants for C-executives with AI to screen emails, complete data-entry operations and much more.