In this AWS re:Invent 2023 session, Boyd McGeachie, Director of Go-To-Market for networking and compute services at AWS, presents strategies for optimizing Amazon EC2 costs. He emphasizes the importance of 'smart savings' that enable business agility and innovation while reducing expenses. McGeachie covers key optimization techniques including scaling with Auto Scaling groups, right-sizing instances, leveraging purchase options like Savings Plans and Spot Instances, and adopting new technologies like AWS Graviton processors. He also discusses advanced tools such as AWS Cloud Intelligence Dashboards and Karpenter for Kubernetes environments. Throughout the presentation, McGeachie provides real-world examples and practical advice for implementing these cost-saving measures across different types of workloads and applications. The session aims to help AWS customers maximize their cloud efficiency and reduce compute costs without sacrificing performance or future growth potential.