Leveraging AI to Enhance Customer Experience in Highly Regulated Industries
Viewpoint
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