Latest news with #costreduction
Skift
7 hours ago
- Business
- Skift
Amex GBT, Amadeus: AI Usage is Getting Cheaper, Voice May Be a Gamechanger
Generative AI is becoming more accessible in several ways: At large businesses, costs per transaction are falling, and voice-to-voice interactions may provide an ease of use that brings AI to the masses. While building cutting-edge AI models remains an expensive proposition, the actual cost to use them is nosediving. That's the view of Rodrigo Acuna Agost, head of research and the AI Center of Excellence at Amadeus. "In 18 months, I think it's decreased ... 240 times less," Acuna Agost said, referring to the cost per token in GPT-4. He estimated the cost of using "voice-to-voice and phone" is roughly $1 per conversation. Marilyn Markham, vice president, AI strategy and automation at Amex GBT, agreed that the "cost per transaction is decreasing ... it's actually quite inexpensive," but pointed to other factors that need to be considered in the financial equation. "But the investment to transform the systems still needs an ROI," Markham said. "So because of that, it doesn't automatically decrease the price of service because of all it takes to actually get to that point and maintain it. And all of that is done by people, so it's kind of displacing where the cost actually is for servicing our customers." The two discuss these trends during an on-stage discussion at the Skift Data + AI Summit in New York Wednesday. Here are some other takeaways from the session. AI May Be More Useful in Leisure Than In Business Travel "I think business travel restricts us in using the full power of AI unless we decide to do more bleisure," Amex GBT's Markham said. She said leisure travel is more collaborative — you plan trips with your friends — than business travel, which has strict rules and policies. "So applying rules ... going to Gen AI for that is not going to be your best bet," Markham said. The Effort to Get Employees to Adopt AI Markham said sometimes when the company onboards generative AI, "the rumble in the room is there goes my job." It takes "a lot of human labor," including team meetings and town halls, "to bring people along," she said. "Sometimes just giving them a taste of the drug and getting them a little addicted, and going like this is amazing, it helps me in my work." Voice to Voice Interactions Could Be the Next Big Thing Acuna Agost of Amadeus said voice-to-voice interactions — talking to an AI agent and listening to its answer — may democratize AI because writing skills are not required. His research team is experimenting with voice-to-voice in multiple languages. "We switch from Spanish to French to English, and you get the response in natural language," Acuna Agost said. "So imagine all people, different nationalities, all will have access to AI." Data for Personalization 'Is Not Fully Exploited' Business travel is not taking advantage of the data it already has to enhance personalization. "You're not the only person who travels for this project," Markham said. "I have your data, and I have the data of all your colleagues who go back and forth. If we could extract and use that data, you would find that we can leap forward in personalization and get something that's pertinent, even if it's your first time traveling to the New York office. Others have done it. We know how it works. We can recommend. So I think there's this data. It's not fully exploited yet."
Japan Times
17 hours ago
- Business
- Japan Times
Japan's top banks consider teaming up on ATMs to cut costs
MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank are considering jointly operating ATMs to reduce costs, said people familiar with the matter. The units of Japan's three biggest banking groups are discussing details of joint operation, said the people, who asked not to be identified discussing private matters. The banks are seeing whether costs can be reduced for tasks needed to run ATMs such as monitoring, security and cash transportation. Spokespeople for MUFG, Sumitomo Mitsui and Mizuho all said nothing has been decided. Despite posting record profits, the three banking groups still lag behind some global peers by metrics such as return on equity, suggesting they have room to make their operations more efficient. Japan's ATMs have high functionality, being able to open deposit books inside the ATM and type up past transactions, for example, but features like those require significant costs for development, operation and maintenance. It is also meant that people have come to rely on them, making it harder for banks to phase out the machines. Meanwhile, Fujitsu, a Japanese electronics firm, said Tuesday that it will quit the production of ATMs and devices for bank counters at the end of March 2028 as part of efforts to focus on software and other digital services. In line with the move, Fujitsu reached a basic agreement with Oki Electric Industry, another Japanese electronics company, on hardware procurement. Fujitsu will combine Oki's products and general-purpose hardware with its own software for supply to customers. The company will end maintenance support for its hardware by the end of March 2036.
Bloomberg
a day ago
- Business
- Bloomberg
Japan's Top Banks Said to Mull Joint ATM Operation to Cut Costs
MUFG Bank Ltd., Sumitomo Mitsui Banking Corp. and Mizuho Bank Ltd. are considering jointly operating automated teller machines to reduce costs, said people familiar with the matter. The units of Japan's three biggest banking groups are discussing details of joint operation, said the people, who asked not to be identified discussing private matters. The banks are seeing whether costs can be reduced for tasks needed to run ATMs such as monitoring, security and cash transportation.
Associated Press
4 days ago
- Business
- Associated Press
Research Presented by The US Oncology Network at ASCO 2025 Demonstrates Significant Cost Savings in Community Oncology Setting with Pharmacist-Driven Interventions
THE WOODLANDS, Texas--(BUSINESS WIRE)--Jun 1, 2025-- To address the rising costs of cancer drugs, investigators from The US Oncology Network (The Network), the largest organization of its kind dedicated to advancing local cancer care and better patient outcomes, explored the impact of engaging a remote clinical pharmacist in reducing the total cost of care (TCOC) within the Enhancing Oncology Model (EOM) from the Centers for Medicare and Medicaid Services (CMS). From July 1, 2023, to December 31, 2024, seven ClinReview pharmacists (CRPs) within five EOM-participating practices in The Network evaluated more than 5,600 patients for medication initiatives. During the same period, The Network had 12 practices in the EOM nationwide, accounting for approximately 50% of all providers participating in the program. A total of 1,271 interventions were identified, with 1,180 accepted. The sum of TCOC reduction amounted to $8,982,235. Six medication initiatives were implemented and the breakdown of each initiative and average TCOC reduction per intervention are shown in the table below and will be presented in a rapid oral presentation at the 2025 American Society of Clinical Oncology ( ASCO ) Annual Meeting: In addition to the six medication initiatives outlined above, the CRPs contributed an additional $1,201,326 in medication savings associated with drug selection. 'With the national cost of cancer care estimated to exceed $245 billion by 2030, this study provides a clear roadmap for oncology practices looking to reduce costs and improve patient outcomes,' said lead author Daniel Kendzierski, PharmD, senior clinical pharmacist, The Network. 'These findings underscore the critical role of pharmacist-driven medication interventions in driving the success of value-based care models in oncology.' Study Methodology Medication initiatives were clinically evaluated and adopted at an individual practice level and included moAB dose rounding, pembrolizumab dose banding, biosimilar TIC to preferred products, use of a preferred PD-1 agent in metastatic NSCLC, decreased upfront usage of long-acting GF in metastatic cancer, and preferred use of zoledronic acid over alternatives. CRPs remotely reviewed oncology treatment orders for cost-savings opportunities, updated eligible treatments per practice protocols, or reviewed with the treating oncologist. Interventions were submitted by the CRPs into a tracking system and marked as an EOM-related intervention. TCOC reduction was calculated using the difference between the CMS allowable for the original treatment ordered and the new order. Other Research at ASCO 2025 Physicians in The Network are affiliated with dozens of studies being presented at ASCO 2025. Their research highlights clinical and operational findings covering key topics such as the impact of AI on care delivery, access to oncology resources for minority patient populations, and patient experiences with novel therapies. 'As cancer care costs continue to escalate, community oncology practices need novel therapies and innovative solutions to deliver high-quality, affordable care,' said Leslie Busby, MD, Pharmacy & Therapeutics Committee chair and incoming chief medical officer, The Network. 'Research presented at this year's ASCO around digital transformation and patient care delivery in community settings highlights the direct impact practices in The Network have on the communities they serve. This research helps inform how we can continue driving value-based care forward and improving cancer care for all oncology patients.' The Network is supported by McKesson, which has an unmatched portfolio of oncology businesses and partners that provide research, insights, technologies, and services that are helping address barriers and improve cancer and specialty care. At ASCO, McKesson-supported businesses including The Network, Ontada, and Sarah Cannon Research Institute (SCRI), are part of approximately 170 accepted abstracts and presentations. These are inclusive of oral and poster presentations, educational sessions, late-breaking studies, and early-phase studies. Click here for a full list of SCRI-affiliated studies and presentations and here for Ontada-affiliated abstracts. Expert Panel on Precision Medicine in Community Oncology during ASCO 2025 Additionally, McKesson will be participating in a thought leadership panel hosted by Endpoints News on June 4, 2025, at 12:10pm ET, titled, 'The Future is Now: Digital Transformation Unleashes Precision Medicine in Community Oncology.' Click here to register and join the panelists as they share their insights and perspectives on actionable steps and solutions for community oncology practices to seamlessly integrate precision medicine into their care offerings: ### About The US Oncology Network Every day, The US Oncology Network (The Network) helps more than 2,700 independent providers deliver value-based, integrated care to patients — close to home. Through The Network, these independent doctors come together to form a community of shared expertise and resources dedicated to advancing local cancer care and to delivering better patient outcomes. The Network provides practices with access to coordinated resources, best business practices, and the experience, infrastructure, and support of McKesson Corporation. This collaboration allows the providers in The Network to focus on the health of their patients, while McKesson focuses on the health of their practices. The Network is committed to the success of independent practices, everywhere. About McKesson Oncology and Specialty Solutions It's an unprecedented time for patients living with cancer as life sciences companies race to create new, cutting-edge therapies. With cancer care becoming more targeted, providers, life sciences companies, and payers face a multitude of challenges and complexity in the development of new treatments and making them accessible to patients in need. At McKesson, our unmatched portfolio of oncology businesses and partners provide research, insights, technologies, and services that are helping to address these hurdles and improve cancer and specialty care. View source version on CONTACT: Media Contact The US Oncology Network Claire Crye, Communications [email protected] Health on behalf of The US Oncology Network Christine Murphy, Media Relations [email protected] KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL PRACTICE MANAGEMENT MANAGED CARE ONCOLOGY SOURCE: The US Oncology Network Copyright Business Wire 2025. PUB: 06/01/2025 08:00 AM/DISC: 06/01/2025 08:01 AM
Globe and Mail
26-05-2025
- Automotive
- Globe and Mail
Volvo Cars to cut 3,000 mostly white-collar jobs as part of restructuring
Sweden's Volvo Cars will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric-vehicle demand and trade uncertainty, it said on Monday. The layoffs represent around 15% of the company's office staff, with close to three-quarters of job losses expected to occur in Sweden and the rest in the company's global operation, Volvo Cars said in a statement. With most of its production based in Europe and China, Volvo Cars is more exposed to new U.S. tariffs than many of its European rivals, and has said it could become impossible to export its most affordable cars to the United States. The group, which is majority-owned by China's Geely Holding, on April 29 unveiled a program to slash costs by 18 billion Swedish crowns (US$1.9-billion) and hit the brakes on investments, warning that redundancies were inevitable. Plummeting EV sales unlikely to rebound anytime soon without incentives, expert says In the first quarter, the auto maker had 43,500 full-time employees and 3,000 staffing agency personnel, according to its earnings report. White-collar staff make up more than 40 per cent of its work force. 'The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs,' CEO Hakan Samuelsson said. The group withdrew its financial guidance as it announced its cost cuts last month, pointing to unpredictable markets amid weaker consumer confidence and trade tariffs causing turmoil in the global auto industry. On Friday U.S. President Donald Trump threatened to impose a 50-per-cent tariff on imports from the European Union from June 1, but on Monday he backed away from that date, restoring a July 9 deadline to allow for talks between Washington and Brussels. Volvo Cars' shares were up 3.7% at 1145 GMT on Monday to 18.20 crowns, with most of the rise coming before the layoff announcement. They are still down 24% year-to-date.
