You can save up to 50% on compute costs by choosing the right VM instance type for your workload, considering factors such as CPU bursting, storage transfer limitations, and network bandwidth. Selecting a "good enough" instance type that meets your application's minimum requirements is crucial, rather than choosing an over-provisioned instance with strong performance characteristics you don't need. Cloud providers offer various pricing models, including on-demand, reserved instances, savings plans, spot instances, and dedicated hosts, each with its pros and cons. CPU bursting allows teams to take advantage of burstable performance instances that offer a baseline level of CPU performance with the option to burst to a higher level when needed. Optimizing storage transfer limitations and network bandwidth can also help maximize cloud cost savings. By using automation engines like CAST AI, you can analyze your workload requirements and pick the best machines for you, achieving significant cost savings and improving overall performance and security.