April 30, 2024: Apexon, a digital-first technology services company, today unveiled key findings from a Forrester Opportunity Snapshot Study “Regulated Industries Are Making Generative AI Core to Their Digital Strategy.” The study commissioned by Apexon and conducted by Forrester Consulting highlights significant insights into the adoption, challenges, and future of Gen AI in highly regulated industries such as Financial Services, Healthcare and Life Sciences. A critical finding is that while organizational readiness may not impede Gen AI adoption, the absence of governance proves to be a significant barrier.
The study surveyed 125 US-based CXOs and key decision-makers responsible for AI strategy, representing organizations.
According to the findings, a significant 71% of organizations prefer to procure Gen AI solutions from technology vendors, underscoring the strategic shift towards leveraging external expertise for technological advancement. The findings also throw light on the transformative potential of Gen AI to enhance employee productivity and customer experience.
Key highlights from the study also include:
- Enhancing employee productivity has emerged as the primary use case surpassing customer experience, traditionally the most prevalent industry use case. 70% of the surveyed organizations are directing their investments in Generative AI towards elevating employee efficiency for more impactful activities.
- Investments in building a strong Gen AI ecosystem are expected to increase significantly in 2025.
- Financial Services prioritize customer service improvements, while Healthcare Life Sciences focus on digital operations enhancement with Gen AI.
“Generative AI is arguably the most disruptive technology, set to revolutionize industries and redefine work paradigms,” said Sriniketh Chakravarthi, Chief Executive Officer, Apexon. “This study has unearthed crucial insights for regulated industries aiming to harness Gen AI’s true potential. The findings underscore the importance of an effective AI governance program, a human-in-the-loop approach to manage accuracy risks and the pivot employees will make from routine to more strategic and creative elements of their work.”
Apexon’s Gen AI capabilities:
Specializing in customized Gen AI solutions, Apexon addresses unique organizational needs and industry challenges by leveraging deep industry domain knowledge and advanced AI/ML expertise to design contextualized, human-centric applications that drive real-world outcomes. Genysys, a proprietary platform by Apexon, combines over 10+ LLM models into a versatile platform, streamlining content creation and workflow while ensuring fast processing and minimal latency. It unlocks Generative AI’s full potential for innovative, tailored content, enhancing operational efficiency and engagement.
Click here to download the full study, titled “Regulated Industries Are Making Generative AI Core to Their Digital Strategy,” and discover more insights.
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