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      15 May 2025 TCS Recognized as One of the World’s Top 50 Brands by Kantar BrandZ; Brand Value Soars 28% YoY to $57.3Bn
      14 May 2025 TCS Partners with Khan Bank to Future-Proof its Operations, Enhance Customer Experience and Propel Innovation leveraging AI and ML
      12 May 2025 TCS Partners with Dhofar Insurance Company to Transform its Core Insurance Platform
      View all
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      11 Apr 2025 TCS Partners with Google Cloud to Accelerate AI-led Transformation in the Retail Sector
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      22 Apr 2025 TCS Ranked #6 Amongst Banking Technology Providers and Recognized as a Regional Leader across all Geographies by Everest Group
      17 Apr 2025 TCS BaNCS Named a Leader Among Wealth Management Products by Everest Group
      01 Apr 2025 TCS Positioned as a Leader in Worldwide Discrete Manufacturing Product Lifecycle Management Strategic Consulting Services and Systems Integration by IDC MarketScape
      View all
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    From potential to performance by design

    TCS AI for Business Study–key findings for life sciences

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    TCS AI for Business Study - Key Findings for Life Sciences (26 pgs)

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    Reimagining business with AI

    The latest advances in artificial intelligence (AI) offer life sciences companies enormous potential to help patients live healthier lives. The TCS AI for Business Study shows that nearly half of senior executives in life sciences are optimistic about the potential impact of AI in their organization. The report provides this and other unique insights about how life sciences companies are moving forward to create effective AI strategies for their enterprise. This report explores:

    • The driving factors for AI implementations in life sciences companies.
    • AI’s role in redefining the life sciences industry.
    • Emerging AI trends in customer experience.
    • AI’s impact on the workforce.
    • AI strategy for life sciences.
    • Alignment of AI implementations with business results.

    Download the full report

    The transformative power of AI

    Many life sciences executives we surveyed have a positive sentiment toward AI.

    the report

    An image depicting the life sciences executives have a positive sentiment towards AI end period.

    Power of AI

    Close
    Power of AI
    the report

    Our study shows that the majority of life sciences companies are preparing for AI or have already embarked on their AI journey.

    • 70% currently reworking or planning to rework their business strategy or operations.
    • 92% of life sciences companies have AI implementations planned, in process, or already completed.

    Yet there’s no consensus on AI adoption strategies and not enough metrics to measure success with 76% saying they need better KPIs for their AI implementations.

    Current state of AI

    • 65% of corporate functions have AI implementations in process or have completed AI projects.
    • 27% of corporate functions are planning AI implementations.

    Yet there is a gap between aspiration and reality with:

    • Only 1% of senior life sciences executives saying AI is a differentiating factor for business transformation.

    What is hampering AI progress in life sciences companies?

    Top AI challenges for LS

    A figure depicting the top three challenges for the life sciences companies such as short-term thinking, current IT service providers, and current IT infrastructure.

    Surveyed executives identify their main challenges

    Close
    Surveyed executives identify their main challenges
    Top AI challenges for LS

    Challenges around generative AI

    When it comes to concerns about AI, especially with the hype around generative AI (GenAI), five strategic challenges are top of mind for life sciences companies.

    • Lack of IT readiness
    • Ethical and responsible AI use
    • Compliance challenges
    • Increased investment in AI research and development
    • Redesign of customer experiences

    Not enough metrics for ROI

    As the integration of AI into business processes accelerates, expected financial return on such an investment becomes increasingly significant. But only 20% of life sciences companies said they have "good enough" metrics and KPIs for their current stage of AI deployments.

    Without adequate KPIs for AI-enabled operations, proving ROI and getting future buy-in is challenging.

    Key findings—future of AI

    Most life sciences executives believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities that require creativity, empathy, and strategic thinking.

    72% think human strategic decision-making and creativity will remain essential to their competitive advantage.

    As AI becomes more advanced and part of “business as usual,” the role of humans in the workplace will evolve. Within the next three years, 48% of life sciences companies expect most of their employees will be using GenAI on a daily basis.

    Innovation and revenue growth will be a focus for future AI implementations. 61% of Pacesetters in life sciences—the more financially successful companies we surveyed—are primarily focused on using AI to spur innovation.

    TCS recommendations

    • Begin
    • Sustain
    • Stop
  • Begin
  • Sustain
  • Stop
  • Begin

    Get started. Focus on a few use cases to begin with. Identify those low-hanging fruits, which will help you to demonstrate the value of AI early on in your pilot phase. This will enable you to gain the buy-in of your business stakeholders. Don’t linger on an idea for too long. Try to take it into production to gain the first-mover advantage.

    Sustain

    It is important to understand that AI transformation cannot be one size fits all. It will have to be contextualized according to the business scenario and intended outcome. Ensure that the implementation is flawless before eyeing effectiveness. Be open to initiatives that are focused not only on productivity, but also on revenue multiplier opportunities.

    Stop

    Not everything needs AI. Weigh ROI vis-a-vis total cost of ownership and carefully choose areas for AI implementation. Like with any other technology, monitor usage by business units and functions with a consumption tracker and distribute costs as per usage. Based on the outcome evaluation, know the focus areas to sustain or stop AI implementation.

    Ensure talent spans ecosystems.

    Collaborate with partner ecosystems in the areas of accessing specialized expertise and talent, technology and resource sharing and innovation, to accelerate and enhance scaled AI adoption. Strike a balance between building the in-house AI talent and expertise and utilizing specialists from technology partners.

    Build in an AI governance framework.

    To harness AI responsibly, CMI enterprises need to build an AI governance framework covering fairness and transparency, ethical principles, security and privacy standards, observability, governance and risk management and regional and telecom industry regulatory controls. This ensures AI is used ethically and delivers value for both the organization and the society.

    About the study

    TCS’ Thought Leadership Institute conducted an anonymous study of approximately 1,272 senior executives with P&L responsibilities in 12 industry sectors across Asia, Europe, Nordics, LATAM, North America, and the United Kingdom and Ireland, with respondents having an annual revenue of $5 billion to $100 billion. The life sciences industry findings are based on feedback received from 90 survey respondents.

    This global study examines how CEOs, LOBs, directors, and business line managers are preparing their business to be AI-ready, focusing on aspects such as their strategy around operations, talent, and future implementation plans. The study also provides best practice recommendations based on these insights.

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