Study shows that AI will reduce operational costs in companies by 30%

With this in mind, a survey of 3.000 business owners and managers in the United States sought to determine how many are already using artificial intelligence (AI) in the workplace and which tasks are most commonly being replaced by automated tools. Based on their findings, they also examined how much money AI is already saving companies by 2024.

Key findings:

• Nearly a third (31%) of respondents saved between $101 and $500 by replacing tasks with automated tools.
• A significant 83% of business owners and managers surveyed said they use artificial intelligence to help predict customer behavior, followed by three-quarters (76%) of respondents using AI to automate repetitive tasks.
• A quarter (25%) of respondents regularly use AI to reduce costs in the workplace.

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Technology companies are profiting from unprecedented demand for the computing power needed to operate artificial intelligence (AI).

The second largest savings amount turned out to be up to $100, with almost a quarter (23%) of respondents believing that AI helped reduce costs in their business.

While AI has many uses, it can benefit businesses by predicting customer behavior and automating repetitive tasks. Not only does this save time, but it can also reveal potential spending habits.

One in eight (12%) survey participants even revealed that they saved between $1001 and $5000 from implementing AI into your business.

Five percent of respondents in the United States said that by replacing tasks with AI, they saved more than $10.000.

Many companies can achieve these huge savings by utilizing AI in efficient tasks such as budget planning, using new revenue sources, and accurate forecasting to reduce costs.

Less than ten percent (7%) reported that AI did not reduce business costsariais in no way.

Of those interviewed who use AI to reduce business costsariayeah, 83% of business owners and managers in the United States admitted to using AI to predict customer behavior.

By applying artificial intelligence algorithms, companies are able to gain additional insights into customer behavior that they would not have access to previously. This has proven useful for businesses to accurately predict customer behavior by understanding their purchasing patterns and spending habits.

Close behind is the automation of repetitive tasks (76%). Automating repetitive tasks allows employees to focus on more important tasks instead of spending a lot of time on manual tasks.

Budget planning (76%) is classified as the second most used task by companies when employing artificial intelligence, enabling them to make informed and strategic financial decisions.

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