Humane, the startup founded by former Apple design and engineering team Imran Chaudhri and Bethany Bongiorno, has officially launched its long-awaited Ai Pin ¡ª making a splashy foray into the nascent field of artificial intelligence hardware.

The device can magnetically clip onto clothing and will cost $699 with a $24-a-month subscription ¡ª which will come with unlimited data and phone calls. The company also said it would partner with T-Mobile for phone service and Microsoft and OpenAI for AI technology. The device will be available to order starting Nov. 16.

¡°For the technology you are getting, we set a high bar for ourselves in terms of pricing it at a level we think is approachable and accessible,¡± Bongiorno, Humane¡¯s chief executive officer, said in an interview on Bloomberg TV Thursday. ¡°There will always be improvements over time in terms of driving down cost.¡±