Image Analyzer in NAV 2018

Hi Folks. Image Analyzer is introduced in NAV 2018. Please let me know if it works only on Azure / cloud or it works even in on-premises.
I have installed the Image Analyzer Extension in NAV 2018. But if I click on ANALYZE PICTURE in the contact card after importing the picture, I am getting the error- "Could not contact the Computer Vision API. Resource not found. Status Code: Notfound".

Please suggest me what I need to do. Thanks in advance
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