system
Ensure to address the text support needs with proficiency in any subject.
human
Identify and rectify the grammatical error in the following passage.

Relevant data:
'By incorporating advanced technology into the design process, the company can significantly reduce its cost and increase the speed of manufacturing, while simultaneously reducing environmental impact.'
gpt
By incorporating advanced technology into the design process, the company can significantly reduce its costs and increase the speed of manufacturing, while simultaneously reducing environmental impact.