6 Ways Artificial Intelligence Helps Companies Reduce Waste

artificial intelligence helps companies reduce waste ai energy efficiency business

Running a business is always a challenging endeavor. There are enough difficulties you need to overcome without focusing your efforts solely on reducing company waste and energy output. Luckily there are expert artificial intelligence (AI) companies like Industrial Vision Systems that can help your business to reduce wasted time, materials, energy, and fuel with their equipment and software.

Here are 6 ways that artificial intelligence can help companies reduce waste and energy output:

1. AI QC: Quality Control Prevents Wasted Product

Artificial intelligence and machine learning technology can significantly reduce the amount of wasted product that your business produces. One of the biggest detractors from manufacturing profitability comes from machine or human error. A single production error could hold up the line for minutes or hours at a time, possibly even days depending on the issue. Time is money and even a few minutes of production time lost could cost your company significantly. If enough time is lost or enough mistakes are made, you will lose valuable clients and customers. Improve your quality control (QC) and it will make a major difference.

artificial intelligence helps companies reduce waste

2. Avoid Pricey Product Recalls

Everyone knows that product manufacturing mistakes can be quite costly. But a serious flaw in company production that requires a recall due to safety reasons can cost a fortune, especially if you aren't adequately insured with product recall expense insurance. It could also leave a permanent black mark on your company's reputation that could negatively impact sales for years to come... or cost an enormous amount to correct over time with public relations, marketing, advertising, and branding. Either way, machine vision systems can be the difference between your business floundering or flourishing.

3. Overall Increased Productivity And Efficiency

Artificial intelligence can improve your quality control to avoid major mistakes, but it can also add overall efficiency to your business production. Fewer mistakes, less holdup, and more accurate predictions mean that your business manufacturing capacity and speed will increase significantly. Now you can produce enough product (without sacrificing quality) to fill larger orders and cater to larger clients or marketplaces. And quicker production leads to quicker deliveries, which means more faster sales and more reorders.

4. Fewer Employees Needed 

When your business embraces artificial intelligence, you need to hire and maintain less employees. The same goes for independent contractors, interns, etc. Each staff member that you employee or hire needs to be trained, retained, motivated, and compensated. That saves you a great deal of overhead in salary, overtime, and benefits. 

Also consider that having fewer employees and contractors will reduce energy use and waste in your workplace and in your business transportation. This is a factor that should not be underestimated in its importance.

AI will provide strong ROI when it comes to your hiring needs!

5. Reduce Electricity, Heat, & Fuel Use

Artificial intelligence and machine learning are great for optimizing your energy use. They can lower your electricity use, heat, and other fuel consumption to make a major dent in your utilities bills. Investment in artificial intelligence equipment and software can pay for itself with lowered utilities bills alone!

6. Waste Less Money On Insurance

When you artificial intelligence and machine learning systems in your manufacturing, your liability will go way down. Any smart insurance company will understand that and would probably give you a discount on your policy or improve your coverage. If that isn't a normal option with your existing insurance provider then you could always try negotiating or seek other insurance providers. If you do get a significant discount, your systems could end up paying for themselves in insurance savings or improved coverage alone!

How AI Can Help Your Company Run Leaner, Meaner, And Cleaner

As you can see, artificial intelligence can help your business reduce waste and energy output. Make the investment in AI equipment and software to improve your company ROI. Waste not, want not!

New Frugal Finance Blog Posts & Articles