How are you keeping innovation alive while managing tighter budgets? Could you share a specific example of how you've maintained momentum despite cost pressures?

In the manufacturing sector, we've shifted our focus from external innovation to internal optimization. While we've scaled back on industry 4.0 and IoT investments, we've recognized the potential in interpreting existing data from automated solutions on the shop floor. We've gamified the process by challenging our team to propose ideas that enhance data integration and AI use case identification. Successful implementations receive recognition, fostering a culture of internal innovation. This approach allows us to leverage existing technology and data for improved operational quality, rather than seeking external solutions. Although this initiative is in its early stages, we anticipate it will drive significant internal innovation over the coming year.

In the tech sector, we've turned budget constraints into opportunities by investing heavily in AI and its practical applications. We've developed AI models for sentiment analysis to understand customer feedback and predict the next best action. This approach has enabled us to optimize targeted email campaigns and cohort-based communications, reducing costs in other departments. We've also implemented automatic email responses to decrease customer service calls, and utilized GitHub Copilot to assist our developers. Our focus on automation extends to L1L2 process triaging, where we've automated standard operating procedures using Atlassian data. This helps divert user support tickets to automated solutions, reducing manual intervention. Additionally, we've stabilized headcounts by leveraging offshore development centers in India, minimizing external consulting costs. In the past year, we've reduced external costs to zero, demonstrating our commitment to internal innovation and efficiency.

In the face of constant cost pressures, we've embraced technological advancements to streamline operations. Over the past few years, one significant achievement has been transitioning from paper tickets and time cards to a digital platform. For 15 years, our field operations relied on paper, but we've now implemented a SaaS-based software that utilizes iPads already available to our superintendents and foremen. This shift not only reduced costs associated with maintaining a home-grown system but also improved the accuracy and speed of data collection. By eliminating manual data entry, we've freed up personnel to focus on analytics and business operations, rather than paperwork. Additionally, we've upgraded our safety application on iPads, further reducing paper usage in the field. This digital transformation has allowed us to maintain cost efficiency while enhancing operational accuracy.