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Survey Surfaces Benefits of Applying AI to FinOps

In General
October 19, 2023

A survey of 200 enterprise IT decision-makers published this week found organizations that have infused artificial intelligence (AI) into financial operations (FinOps) workflows to reduce IT costs are 53% more likely to report cost savings of more than 20%.

Conducted by the market research firm Foundry on behalf of Tangoe, a provider of tools for managing IT and telecommunications expenses, the survey found organizations that embraced FinOps without any AI capabilities averaged less than 10% in cost savings.

The top three drivers for adopting FinOps/cloud cost management programs are the need to increase cloud resource production and performance (70%), reduce budgets (60%) and rising costs (58%), and simpler overall program management (50%), the survey found. Major benefits included productivity savings (46%), cost savings (43%) and reduced security risks (43%). Nearly two-thirds of respondents cited service utilization and right-sizing of services as another reason to embrace…

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