Ortbals also warns of the challenges in building an AI-powered platform for cost optimization, such as visibility issues and the need for oversight. He suggests that companies should balance between in-house resources and providers with advanced AI platforms. He concludes by stating that while AI is a necessary component for cost management, the human touch is still essential in guiding enterprises to fuel innovation faster.
Key takeaways:
- Companies often overspend on IT by 20%, with most of the waste coming from cloud, mobile and telecom services. Effective IT expense management can help identify and reduce this waste.
- Artificial Intelligence (AI) can significantly enhance IT expense management by identifying waste in real time, providing actionable recommendations, and automating problem-solving.
- Building an AI-powered platform for cost optimization can be challenging due to visibility issues, the need for high interconnectivity, and the necessity for oversight. DIY approaches often require significant resources and may take years to yield results.
- While AI is an effective tool for managing IT spending and accelerating digital innovation, the human touch is still necessary. Companies should consider balancing in-house resources with providers that offer advanced AI platforms and professional services.