How to Keep AI Costs Down

Artificial intelligence has become an essential tool for businesses of all sizes, providing automation, insights, and efficiencies that were once unimaginable. However, for small to medium-sized businesses (SMBs), managing the costs associated with AI can be challenging. For users of Microsoft 365 Copilot, there are several strategies to ensure that AI implementation remains cost-effective while maximising its benefits. This blog will explore how to keep AI costs low for SMBs using Microsoft 365 Copilot and other AI tools.

Use Built-In Tools

Microsoft 365 Copilot integrates AI directly into the applications your business already uses, such as Word, Excel, and Teams. By utilising these built-in AI tools, you can avoid the additional costs of third-party AI solutions.

By using the AI capabilities embedded within the Microsoft 365 Suite, businesses can lower overall costs by avoiding the purchase of separate AI tools. These tools work seamlessly with your existing workflows, meaning that Copilot for 365 can help automate repetitive tasks in Excel, generate reports in Word, and streamline communication in Teams, all without additional software expenses.

Avoid Shadow AI

Shadow AI refers to AI tools and solutions that are implemented without the knowledge or approval of the IT department. This can lead to security vulnerabilities, data inconsistencies, and increased costs.

Unauthorised AI tools can create security loopholes, mostly by causing inconsistent data handling and storage. This can mean that when a company comes to implement a solution, there are hidden AI expenses that have accumulated unnoticed, like the work required to move data into a newly purchased system. To reduce their costs, SMEs should ensure that all AI tools and initiatives are approved and managed by your IT department. This centralised approach helps maintain security and cost control.

Invest in Training

Investing in training your employees to use AI tools effectively can significantly reduce costs. Well-trained staff can maximise the benefits of AI without the need for constant external support.

With the right training, employees can leverage AI tools to their full potential, leading to less reliance on external consultants or support services. Provide training sessions on how to use Copilot for 365’s features in Word, Excel, and Teams to automate tasks and improve efficiency.

Microsoft 365 Copilot offers a range of AI capabilities that, when used effectively, can help your small business thrive without breaking the bank. By following these tips, you can harness the power of AI to drive efficiency, productivity, and growth while maintaining control over your expenses.