Artificial intelligence for cost reduction: User example Xerox

Companies are constantly looking for efficient ways to reduce costs and optimize their processes. One of the most promising technologies that more and more companies are adopting is Artificial Intelligence (AI). In this tutorial, we take a look at the example of Xerox, a company that has managed to achieve significant savings by using AI technology, especially in the areas of video production and voiceover.

We will explore how this technology works and the steps to implementing a similar solution in your own company.

Key Insights

• Xerox saved 50% of costs for video and voiceover productions by using Synthesia, an AI-generated video platform.
• The technology is used not only for external communication but also for internal training.
• AI can help scale processes and improve efficiency in many business areas.

Step-by-Step Guide to Implementing AI in Your Company

1. Understand what Artificial Intelligence is

Before diving into integrating AI into your business, it is fundamental to develop a basic understanding of Artificial Intelligence. AI encompasses a wide range of technologies that enable computers to simulate human-like decision processes. The applications range from simple automations to complex algorithms capable of analyzing large datasets and deriving patterns from them.

2. Analyze your company's current status quo

Each company has different needs and challenges. Before investing in AI, you should conduct a thorough analysis of your current processes. Consider where there are bottlenecks or where costs could be saved. Identify recurring tasks that could potentially be automated through AI.

3. Choose the right AI solution

As Xerox demonstrates, choosing the right AI technology can have significant impacts on your company's costs and efficiency. In this case, Xerox opted for Synthesia, a platform that enables the creation of AI-generated videos and voice recordings. Compare different providers and their solutions to find the one that best fits your company's specific needs.

4. Implement the technology

After selecting the appropriate technology, the implementation phase follows. It's important to carefully plan the integration of the new technology into existing processes. Ensure that your employees are properly trained to effectively use the new tools. At Xerox, voiceovers for their products were created using AI, which means internal teams had to be trained in the use of this new technology.

5. Create internal training resources

Xerox uses AI technology not only for customer communication but also for internal employee training. Create your own online courses or training resources to help employees better understand the new technologies. This can be done through creating explanatory videos or e-learning modules that illustrate the benefits and applications of AI in a clear way.

6. Measure and optimize

After the technology has been implemented, it is important to continuously measure the results. This means regularly analyzing the costs and benefits of the new systems. Xerox experienced a significant reduction in overall operating costs through savings in voiceover expenses. Set KPIs (Key Performance Indicators) to evaluate success and adjust your strategy if necessary.

7. Scale the solution

Once the new technology proves successful, consider expanding it to other areas of your company. Xerox's AI-driven solution was used to train over 1000 sales employees. Think about other departments or processes where AI could also be employed to further increase efficiency.

Summary

Artificial Intelligence offers companies like Xerox the opportunity to significantly reduce costs and optimize processes. By selecting the right technologies and implementing them sensibly, you can achieve similar cost savings and efficiency improvements in your own company.