GeekyAnts Launches Generative AI-Powered Tool to Revolutionize Software Cost Estimation
In the software development industry, where project delays and cost overruns are almost the norm, Bangalore-based technology firm GeekyAnts has presented a solution that could change how companies approach their planning and budgeting of their digital projects. Their new AI-powered Estimation Builder represents a significant leap forward in addressing one of the tech industry’s most persistent challenges: accurate project estimation.
From Spreadsheets to AI: A Journey of Innovation
“Every software project starts with a question: The most common questions that arise when it comes to implementing innovation are, ‘How much will it cost and how long will it take?’ says Rajesh Kumar, Head of Innovation at GeekyAnts. “Unfortunately, estimation has been more of a black art in the past, with clients getting disappointed and development teams under pressure.”
The background of GeekyAnts’ Estimation Builder can be traced back to an industry problem. As with most software development businesses, GeekyAnts once used spreadsheets and basic arithmetic to perform project cost assessments. While this approach is standard across the industry, it often resulted in various issues and mistakes that could propagate across the entire project life cycle.
The change process started when the leaders of GeekyAnts noticed a pattern in their project data. ‘We had years of historical data to indicate how the first estimates were with the final deliverables,’ Kumar said. “The patterns were there, but humans alone could not compute such high-level variables efficiently.”
New Grounds in AI Integration
The artificial intelligence incorporated into the Estimation Builder is more complex than that of most other tools. The system then draws information from hundreds of previous projects, factors that human estimators may overlook or underappreciate. These include:
- Historical durations of similar features
- Team composition and experience of the team
- Regional cost variations
- Technology stack implications
- Risk factors and their likelihood
Dr. Maya Patel, an AI researcher who reviewed the technology, notes its significance: What GeekyAnts has developed is not simply the next tool for project management. It is a learning system that gets more refined each time it goes through a project.”
Real-World Impact
First findings are encouraging: The results from early implementations are encouraging. In a controlled study involving 150 projects over 18 months, the Estimation Builder demonstrated remarkable improvements:
- The estimation accuracy was increased by 45 percent.
- The pre-sales cycle duration has been cut short by 70%.
- The scores of client satisfaction improved by 35%.
- Resource allocation efficiency has been enhanced by 40%.
‘These are actual business figures,’ said Sarah Chen, Principal Analyst, TechVision Research. ‘If you take into account that about 66% of software projects go over their budget, the tool that can increase the estimation accuracy by a few folds becomes a necessity.’
Beyond Traditional Estimation
The Estimation Builder introduces several innovative approaches to project planning:
MOSCOW Integration
The system uses the MOSCOW prioritization framework (Must have, Should have, Could have, Won’t have) but includes an AI layer. “The AI doesn’t just categorize features,” says Kumar. “It also takes cognizance of the relationships between them and how these impact the project schedule.”
T-Shirt Sizing Enhancement
Standard T-shirt size estimations (S, M, L, XL) are used for feature estimation, but with more refinement. The AI uses past information to assign more accurate size, and this takes into account aspects such as technical difficulty and team experience.
Automated Sprint Planning
Possibly the most impressive feature is that the system is capable of creating elaborate sprint plans depending on the feature size and the team’s load. “This level of automation in sprint planning is unheard of,” says Chen. ‘It is like having all the experience of an experienced Scrum Master within the system.’
Industry response and future implications
The response from the software development community has been remarkably positive, but not without critical thinking. “Any tool that promises a solution to the estimation problem requires a second look,” states Marcus Rodriguez, the Chief Technology Officer of Global Tech Solutions. ‘However,’ the early results from GeekyAnts’ system are encouraging.
The consequences are not limited to the provision of reasonable estimates. Companies testing the system report:
- Better client confrontation
- Better resource allocation
- Reduced project stress
- Improved team morale
- Less time overruns
Looking Ahead: Project Estimation in the Future
GeekyAnts is not content with the success it achieved at the start. The company has announced an ambitious roadmap for the Estimation Builder, including:
- Compatibility with Jira, HubSpot, and other widely used project management platforms.
- Improved feature prediction for machine learning
- Market rate changes in real-time
- Blockchain for the verification of the estimate
“We are only beginning to see the potential,” Kumar added. “Project estimation will become more and more automated and precise, and we are happy to be a part of this process.”
Industry-Wide Implications
The fact that GeekyAnts was able to create a tool like the Estimation Builder brings into question the future of project management in software development. Will AI-driven estimation replace estimation as we know it? What impact will this have on project managers and business analysts?
Dr. Lisa Wong, Director of Digital Transformation at Enterprise Solutions Corp, offers perspective: Such tools will not supplant judgment, but they will augment it to a great degree. Project management in the future will probably be a combination of human experience and artificial intelligence.”
Accessibility and Implementation
As of now available for enterprise adoption, GeekyAnts is set to release the public version of SaaS in Q1 of 2025. This could bring about the democratization of complex estimation tools, which could be a boost to the small development firms.
‘The goal is not just to enhance the processes that we follow,’ agrees Kumar. “Our goal is to raise the level of the whole industry in terms of project estimation and planning.”
Why GeekyAnts: A Legacy of Innovation
Behind the revolutionary Estimation Builder, there is a company with a long history of using technology in construction. GeekyAnts was started in 2006 and has grown from a small software development company to a leading technology solutions provider today, and the company’s portfolio shows the company’s potential to transform the software development industry.
Excellence Through Experience
GeekyAnts has been involved in software development for nearly two decades and will be working on the Estimation Builder. The company has successfully delivered over 1500 projects across various industries, including:
- Software solutions for large organizations and companies on the Fortune 500 list
- Modern, widely used applications for mobile devices
- Global corporate Internet sites
- Internet of Things solutions for industrial use
- AI and ML applications
“We have had a long journey in software development and have been able to understand the estimation problems that teams all over the world encounter,” said Sanket Sahu, the CEO of GeekyAnts. The Estimation Builder is one of the direct outcomes of hands-on experience with these issues.
Innovation DNA
GeekyAnts has consistently demonstrated its commitment to innovation through various initiatives:
GeekLabs: An internal innovation division where the Estimation Builder was first developed
Open Source Contributions: More than a hundred open source projects that are currently in use
NativeBase: A UI component library with over 16k stars on GitHub
Tech Education: Monthly seminars and technical sessions for the developer community
Global Footprint
The company has offices in Bangalore, India; San Francisco, USA; Dubai, UAE; and Singapore, which gives the company an international outlook towards software development and has worked with clients in over 40 countries.
Industry Recognition
GeekyAnts’ expertise has been recognized through numerous accolades:
- Clutch’s Top Mobile App Development Company List (2022-2023)
- The Innovation Excellence Award by CII
- The Tech Ventures’ Best Workplace Culture Award
- Present in Deloitte’s Technology Fast 500 companies
Technical Excellence
The company’s technical prowess spans multiple domains:
- Mobile Development (React Native, Flutter, Native iOS, and Android Development).
- Web Development with React, Angular, Vue.js
- Backend Development (Node.js, Python, Java)
- Cloud services include Amazon Web Services, Microsoft Azure, and Google Cloud.
- AI/ML Solutions
- DevOps and Infrastructure
‘We are not just a technical company, but we understand business problems,’ says Abhishek Narain, CTO of GeekyAnts. ‘The Estimation Builder is a quintessential example of this convergence of technical and business thinking.’
Client-Centric Approach
The company’s success is built on a foundation of client satisfaction:
- 92% client retention rate
- 85% of business through word of mouth
- Clients from the emerging businesses to the large enterprises.
- Long-term relationships, which have been active for at least 4 years.
The Road Ahead
With software becoming the driving force for the world, applications such as GeekyAnts’ Estimation Builder might be crucial in handling the growing complexity of digital solutions. It is still early to talk about the triumph over the problem of software project estimation, but this AI-based approach is a major step forward toward making the process more predictable when it has been historically unpredictable.
Future Vision
Building on their success, GeekyAnts plans to:
- Enhance the Estimation Builder with the help of constant AI/ML advancements.
- Introduce specific estimation models for the industry.
- Design of integrated project management solutions
- Develop a feature suggestion mechanism that is run by the community.
- Develop educational programs that will assist organizations in improving their estimation activities.
‘Our vision is not just to create tools.’ Sanket Sahu. Our goal is to revolutionize the existing model of planning and managing the software development process in the industry.
The effectiveness of this tool may be the start of a new generation of software development in which the difference between the estimated and actual results continues to shrink, to the advantage of both development teams and clients. Established as a highly innovative and technically sound software development house, GeekyAnts is ready to transform the Estimation Builder into one of the most sought-after tools in the modern software development industry.