In recent years, enterprises in regulated industries such as banking, financial services, insurance (BFSI), and healthcare have leveraged AI to automate tasks and improve Customer Experience (CX). Technologies such as Conversational AI (CAI) and Intelligent Document Processing (IDP) are transforming interactions and data handling. Integrating generative AI and Large Language Models (LLMs) further enhances these solutions by improving Natural Language Processing (NLP) capabilities, allowing for more complex query handling and efficient processing of unstructured documents. Despite these advances, AI adoption in regulated industries faces significant hurdles due to data security, privacy, decision explainability, and compliance with regulations such as General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), Health Insurance Portability and Accountability Act (HIPAA), and Food and Drug Administration (FDA). In this report, we examine the current AI landscape in regulated industries, the impact of generative AI and LLMs on customer engagement, and the top AI use cases in BFSI and healthcare. The report also provides key considerations for companies when evaluating AI solutions and outlines best practices for AI adoption. Finally, it discusses the outlook for generative AI-powered applications and their potential to elevate CX in regulated industries. Scope Industry: Customer Experience Management (CXM), healthcare, insurance, banking and financial services (BFS) Geography: global Contents In this report, we examine: The current AI landscape in regulated industries The transformational impact of generative AI and LLMs on customer engagement Top AI use cases in BFSI and healthcare Key enterprise considerations when evaluating AI solutions Best practices for AI adoption Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Service Optimization Technologies (SOT) CXM Technology Sourcing and Vendor Management

In the realm of Intelligent Automation (IA), enterprises are increasingly turning to Intelligent Document Processing (IDP) to automate document processing and realize various business benefits. Generative AI, with its advanced Natural Language Understanding (NLU) and content generation capabilities, is poised to disrupt the IDP landscape, bringing transformative enhancements to product capabilities. While language models such as BERT have traditionally been part of IDP solutions, the integration of advanced Large Language Models (LLMs) such as GPT-3.5 (and above) is expected to revolutionize how enterprises handle and process documents. This integration offers effective tools to transform their operations, drive innovation, and unlock new opportunities. In this viewpoint, we help enterprises and providers understand how advanced IDP solutions integrated with generative AI can help achieve key business objectives. The report provides insights into potential industry-specific and horizontal use cases and discusses key considerations such as cost and privacy concerns. We also explore some of the best practices to maximize RoI from generative AI and IDP integration. Scope All industries and geographies Contents In this report, we examine: Generative AI’s evolution in IDP and its applications Generative AI’s role in enhancing IDP solutions Potential use cases and benefits of generative AI and IDP integration Key considerations and best practices for businesses Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

Everest Group defines process orchestration as software that enables business users to design, manage, and monitor end-to-end business processes. It includes key capabilities, such as process modeling, managing business rules, designing user interfaces for capturing/presenting data, overseeing hybrid (human + digital) workforce management, and providing process-related insights. The process must orchestrate the flow of work across workers (such as robotic process automation, intelligent document processing, and conversational AI) and enterprise applications in long-running workflows. In this report, we analyze the process orchestration market for buyers, software providers, and third-party enablers (including providers and system integrators). The report offers a comprehensive view across various dimensions, including market size and adoption trends, buyer expectations, key barriers to adoption, and best practices. The analysis covers solution characteristics, product capabilities and trends, the technology provider landscape, and the outlook for 2024. Scope Process orchestration software products that are sold on license, irrespective of any ongoing business or IT process outsourcing or managed services All industries and geographies Contents In this report, we examine:Market size and adoption trends across buyer geography, industry, and business function Buyer expectations including key barriers to adoption and best practices Process orchestration solution characteristics and key product capabilities and trends Process orchestration provider landscape Outlook for 2024 Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

In recent years, enterprise adoption of automation technologies has been on the rise, with Robotic Process Automation (RPA) emerging as a key enabler of enterprise automation, adapting to organizations’ evolving needs. The emergence of generative AI is further transforming RPA product capabilities, offering unprecedented functionalities to automate complex and cognitive tasks. Despite recessionary headwinds, the RPA market is experiencing steady growth as organizations worldwide adopt RPA solutions to achieve cost savings and enhance productivity. RPA solutions are rapidly advancing in terms of product features, deployment options, product architecture, training and support, partner ecosystem, and commercial models. However, to realize the full benefits of automation, it is vital for enterprises to stay well-informed about the latest trends in the RPA market and carefully select the best-fit RPA provider for their needs. In this report, we provide accurate, comprehensive, and fact-based snapshots of the RPA market and analyze it across various dimensions such as market size and adoption trends, buyer expectations, key barriers to RPA adoption and best practices, solution characteristics, product capabilities and trends, RPA market competitive landscape, and outlook for 2024-25. Scope All industries and geographies RPA products sold on license, irrespective of any ongoing business or IT process outsourcing or managed services Contents In this report, we study: RPA market size and adoption trends Buyer expectations Key barriers to adoption and best practices RPA solution characteristics RPA product capabilities and trends RPA market competitive landscape Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

Process orchestration enables business users to design, manage, and monitor end-to-end business processes. It is gaining traction across industries and geographies due to its numerous business applications that help enterprises realize greater business value. Its benefits include improving workforce productivity, ensuring strict process governance and compliance, and enhancing customer experience. The advent of generative AI is further transforming process orchestration product capabilities, and technology providers have been quick to enhance their products’ features and functionalities to catch up with the latest AI trends and market demands. However, enterprises must select the right-fit process orchestration technology partners to achieve success. In this report, we assess 24 leading process orchestration technology providers and evaluate their offerings and capabilities. The research will help buyers select the right-fit technology providers for their needs and enable providers to benchmark themselves against the competition. Scope Process orchestration software products that are sold on license, irrespective of any ongoing business or IT process outsourcing or managed services All industries and geographies The assessment is based on Everest Group’s annual RFI process for calendar year 2023, interactions with leading process orchestration technology providers, client reference checks, and ongoing analysis of the process orchestration market Contents In this report, we provide: Company overviews Recent deals and announcements Market adoption and client portfolio mix Product overview and partnerships Product features and functionalities and key enhancements Capabilities across PEAK Matrix® dimensions Key strengths and limitations Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

The post-pandemic era is repeatedly stress-testing organizations’ abilities to adapt to a volatile world marked by rising inflation, economic slowdown, geopolitical tensions, supply chain disruptions, and talent shortage. Amid these uncertainties, corporate executives are increasingly adopting automation as a strategic initiative to emerge successful in the marketplace. Robotic Process Automation (RPA) continues to be a key enabler for enterprise automation and is strengthened by new technologies such as Intelligent Document Processing (IDP), process mining, task mining, API-based automation, process orchestration, and conversational AI. RPA provides a host of benefits to enterprises, including cost savings, improved operational efficiency, and enhanced customer and employee experience. However, despite its benefits, it is vital for organizations to select the right enterprise-grade RPA solution for their needs. In this Compendium, we provide accurate, comprehensive, and fact-based snapshots of 23 RPA technology providers, covering the providers’ recent deals and announcements, market adoption and client portfolio mix, product overview and partnerships, product features, functionalities and key enhancements, capabilities across PEAK Matrix® dimensions, and key strengths and limitations. The Compendium will enable providers to benchmark their capabilities against their competitors, while buyers of RPA software will be able to assess the providers based on their desired set of capabilities. Scope All industries and geographies Contents In this report, we evaluate 23 RPA technology providers and share the following provider-specific details: Company overview Recent deals and announcements Product overview Market adoption and client portfolio mix Product features, functionalities, and enhancements Capabilities across PEAK Matrix® dimensions Key strengths and limitations Short description This report provides accurate, comprehensive, and fact-based snapshots of 23 Robotic Process Automation (RPA) technology providers’ offerings and capabilities. Each profile includes the provider’s recent deals and announcements, market adoption and client portfolio mix, product overview and partnerships, product features, functionalities, and key enhancements, capabilities across PEAK Matrix® dimensions, and key strengths and limitations. The report will enable providers to benchmark their capabilities against their competitors, while buyers of RPA software will be able to assess the providers based on their desired set of capabilities. Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

Process orchestration enables business users to design, manage, and monitor end-to-end business processes. It is gaining popularity worldwide, offering numerous applications across various business functions and industries. Its benefits encompass improving workforce productivity, ensuring strict process governance and compliance, and enhancing customer experience. Technology providers have been quick to adapt, enhancing their products’ capabilities, features, and functionalities to meet market demands. However, enterprises must select the right-fit process orchestration technology partners to achieve success. In this report, we study 24 process orchestration technology providers and position them on Everest Group’s PEAK Matrix®, categorizing them as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. The research will help buyers select the right-fit technology providers for their needs and enable providers to benchmark themselves against each other. Scope Process orchestration software products that are sold on license, irrespective of any ongoing business or IT process outsourcing or managed services All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading process orchestration technology providers, client reference checks, and an ongoing analysis of the process orchestration market Contents In this report, we provide: Everest Group’s PEAK Matrix® evaluation of 24 process orchestration technology providers and their categorization as Leaders, Major Contenders, and Aspirants An overview of process orchestration products and different applications Competitive landscape of the process orchestration technology provider market Key process orchestration technology trends Providers’ key strengths and limitations Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

In today’s competitive business landscape, organizations recognize Customer Experience (CX) as vital for market differentiation. Despite economic uncertainty, companies are adopting digital Customer Experience Management (CXM) to navigate the downturn, gain a competitive advantage, and retain customers. Using digital CX technologies such as automation, AI, and Data and Analytics (D&A), organizations are transforming CX operations to enhance customer experiences. D&A and AI solutions play a vital role in digital CX transformation. They offer valuable business and operational insights into customer interactions and improve agent performance in real time throughout the customer journey and associated touchpoints. To gain a deeper understanding of how D&A and AI are driving digital CX transformation and yielding tangible business impact, Everest Group conducted a survey among 35 organizations with annual revenues exceeding US$500 million. These organizations have embarked on digital CX transformation journeys for over two years, leveraging D&A and AI solutions. Drawing insights from this survey and leveraging Everest Group’s continuous research on digital CXM, this viewpoint provides insights on how D&A and AI solutions contribute to delivering great CX. Scope All industries and geographies Content In this viewpoint, we examine: The current state of digital CX transformation and the role of D&A Adoption trends for CX D&A solutions Achievement of business objectives through the use of CX D&A and AI CX D&A and AI services’ key operating models Challenges and best practices for harnessing the full potential of CX D&A and AI Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Sourcing and Vendor Management

The post-pandemic era marks a pivotal period for organizations worldwide, as they grapple with the challenges of a global economic slowdown, geopolitical complexities, supply chain disruptions, and ongoing talent shortages. In the face of these multifaceted challenges, corporate leaders are increasingly turning to automation as a strategic lever to not only weather the storm but also emerge stronger and more resilient. Robotic Process Automation (RPA), which has been a critical enabler of enterprise automation for years, has evolved and adapted to the changing needs of organizations. While the overall automation ecosystem is rapidly evolving through new technologies – such as Intelligent Document Processing (IDP), process mining, task mining, API-based automation, process orchestration, and conversational AI – in this dynamic landscape, a new force is making its presence felt: generative AI. This transformative technology is reshaping the RPA space in profound ways, offering unprecedented capabilities to automate complex and cognitive tasks. RPA provides a host of benefits to enterprises, including improved operational efficiency, enhanced customer and employee experience, and a workforce engaged in strategic activities. RPA has become a popular investment for numerous enterprises, GBS organizations, and service providers, making it one of the fastest-growing software markets in the last decade. In this report, we study 25 RPA technology providers and position them on Everest Group’s PEAK Matrix®, categorizing them as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. The research will help buyers select the right-fit technology providers for their needs, while technology providers will be able to benchmark themselves against each other. Scope All industries and geographies Contents This PEAK Matrix® report examines: Everest Group’s PEAK Matrix® evaluation of RPA technology providers and their categorization into Leaders, Major Contenders, and Aspirants Competitive landscape of the RPA technology provider market Key RPA technology trends Key strengths and limitations of each RPA technology provider Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

The evolving economic landscape and changing customer behavior are transforming the Consumer Packed Goods (CPG) and retail industries. These changes have presented multiple challenges related to supply chain, customer loyalty, and meeting employee needs. To address these challenges, enterprises in the CPG and retail sectors are leveraging various operational, technology, and people levers such as omnichannel strategy, Intelligent Automation (IA), and change management. However, a majority of these enterprises adopt these levers without thoroughly understanding their existing business processes, resulting in failure to achieve target Key Performance Indicator (KPI) levels and lower Return on Investment (RoI). In this viewpoint, we present the findings of a survey conducted with 53 CPG and retail enterprises. The research will help CPG and retail enterprises understand how process mining, using a data-based approach, can assist in understanding, documenting, and improving their existing processes. This, in turn, will enable a seamless implementation of operational, technology, and people levers. Additionally, we examine the progress of process mining adopters in achieving their business objectives after implementing process mining. Scope All industries and geographies Contents In this report, we discuss: CPG and retail industries’ current state, including key trends and challenges Key levers to overcome the challenges The role of process mining in achieving superior outcomes and RoI Key barriers and best practices for accelerating process mining adoption Membership (s) Service Optimization Technologies (SOT) Sourcing and Vendor Management