Google has announced a new set of cost-saving measures in order to focus more on its AI investments. Numerous services will be reduced throughout the company, including a scaling back of its well-known employee perks and downsizing its office services and equipment costs. These changes could also influence fitness classes, hallway cafés and micro kitchens, and they were written in a letter by Google CFO Ruth Porat and live search leader Prabhakar Raghavan, as seen by Insider.
Google plans to find more “efficient and scalable” ways to train its AI models, and they’ve also stated that they plan to get more out of their servers and data centers. Cutbacks on employee upgrades are also expected, as well as a change in hybrid work habits due to the pandemic.
Ruth Porat is an American business leader, and the Chief Financial Officer of Alphabet Inc., the parent company of Google. She previously held the same position at Morgan Stanley, and has a history of involvement in mergers and acquisitions, financing, and banking transactions. Throughout her career, Porat has championed a heavy emphasis on risk-assessment, profits and return-on-investment.
With its sharp focus on Artificial Intelligence and cost-saving measures, Google is making savvy business decisions in order to remain a top player in the industry. These changes are being made with careful consideration, and the company is looking for the most cost-efficient ways to provide the highest quality services for its users.
