![]() What AI is best at are the tasks that humans find boring and repetitive. This can help improve worker productivity and reduce waste. iEnergytics is an energy analytics platform that uses AI and machine learning to collect data and provide cost-reduction suggestions.Īnother way in which AI can be implemented in your organization to cut costs is by reducing the mundane, repetitive tasks. AI can provide companies with a lot more data points, which can be the first step towards finding ways to cut costs and reduce energy usage. ![]() For many organizations, the one data point they get each month is their bill. These costs can add up quickly, especially in big buildings and cities.Ĭonserving energy is another way that organizations are implementing AI to cut costs and save them money. ![]() Whether your company is operating a warehouse or office building, you’ll need to pay for electricity, water, and HVAC. While they are proud of the AI and want it to do well, they also feel competitive, and the need to find new ways of contributing to the company.Īnother big line item for companies is the cost of energy. The humans tasked with training AI that will eventually take over their job have a lot of conflicting emotions. Some employees are even being asked to train the AI that will take over their job. As AI takes over jobs, many humans are left wondering where their place is at the company. While this change is cost-effective for companies, it’s also raising a lot of questions and concerns for employees. An AI chatbot can provide a satisfactory customer service interaction while saving an organization money and reducing the number of customer service agents. This can be done through SMS, messaging apps, or on the organization’s website. Instead of a customer calling a phone number and speaking to a live agent, the customer chats with an AI chatbot. One of the biggest line items for large organizations is customer service agents and call centers.ĪI and natural language processing are changing the way in which organizations provide customer service. One of the most accessible ways that companies are cutting costs for their organization with AI is by reducing the cost of customer service. By using AI to predict problems, Princeton is finding new, more cost-effective ways to produce clean energy. The AI deep learning model is being used to forecast disruptions that can cause damage to the reactors and halt fusions. Department of Energy’s Princeton Plasma Physics Laboratory is using AI and deep learning to speed up the development of safe, clean, and almost limitless fusion energy for generating electricity. Baker Hughes is using AI to reduce the cost of finding, extracting, processing, and delivering oil.Ī partnership between Princeton University, Harvard, and the U.S. AI is able to see larger patterns that humans may miss, which can help them to react faster and take predictive action. What they do is to use AI to study their numbers. Reduce the Cost of Finding Oil Baker Hughes has implemented AI in a number of different aspects of its business. Here’s how these industries are doing it. No matter your industry, there is an organizational solution that AI can provide your company to save money. How AI Data Reduces Costs for OrganizationsĪ number of different companies and organizations are using AI models to reduce costs and increase revenue. No matter your industry, a well-designed and trained AI model can be used to cut costs and generate revenue. AI is being used across industries to reduce overhead costs and save companies money through automating specific parts of processes and tasks. What they don’t recognize off the bat is the long-term goal of reducing costs that may result from applying AI to the right problems. They see the high cost of development and deployment and aren’t sure that AI is right for their company. When it comes to AI, many companies think of these as projects, with limited scope and short term.
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