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Powered by AI, Nous manages household bills to help people save money effortlessly

Most people don't read through every line of their household bills. It's not the most engaging task, the paperwork can be confusing and, well, who has the time? Turns out that AI bots aren't easily bored and will ungrudgingly scan documents word by word. UK startup Nous is harnessing those capabilities to help people save money and time on their household expenditures.

After signing up, users receive personalized alerts about cost-saving opportunities and issues to be aware of, like renewal deadlines and changes in terms and conditions. Nous also summarizes every bill and functions as a centralized admin archive. Unlike existing price comparison sites and switching services, Nous doesn't take commissions when people move to a different utility company. Instead, users pay a small membership fee, which employers can cover if offering Nous as an employee benefit.

According to Nous, their new AI assistant can effortlessly save most households at least GBP 141 on energy by switching to a new provider. Nous handles all related admin. The feature currently only works for energy bills, but will soon be rolled out to broadband, mobile phone, insurance and other categories.

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The cost-of-living crisis is a colossal financial and emotional challenge for many households. No wonder consumers appreciate brands that creatively devise strategies to boost their purchasing power.

Integrating 'savings by design' into products and services can prove transformative. In the case of Nous, that involves proactively developing systems and processes that automatically initiate savings for people rather than leaving them to seek out cost reductions themselves. The service also demonstrates how AI can efficiently solve real-world problems.

While some companies are using higher prices to their own advantage — corporate profits were the largest contributor to inflation in 2022, according to the ECB — other business leaders are seeking to help their fellow humans make ends meet. Which side of history and consumer sentiment does your brand want to be on? It's never too late to change course ;-) 
26 July 2023

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