AI-deas to Action: Operationalizing Generative AI in Life Sciences
Market Report

24 Jan 2025
by Abhishek AK, Lloyd Fernandes, Aastha Malik, Shashwat Sheel Bharadwaj

Generative AI can potentially revolutionize the life sciences industry, driving innovation across key areas of the value chain. By streamlining drug discovery, optimizing clinical trials, and enhancing decision-making, it can significantly reduce the time and cost required to bring new medicines to market, setting a new benchmark for industry efficiency and innovation. However, adopting generative AI presents challenges including concerns about data privacy, model accuracy, training resource demands, and ethical implications.

As providers work toward addressing these challenges and generative AI becomes a key industry innovation driver, the focus is slowly moving beyond experimental pilot projects to full-scale implementations.

This report examines generative AI’s value promise across the life sciences value chain, its market adoption within the industry, and the capabilities of 15 leading providers driving this innovation from pilots to scaled deployment.

Scope

  • Industry: life sciences
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading life sciences providers, client references, and Everest Group’s ongoing analysis of the life sciences market

Contents

In this report, we examine

  • Generative AI’s value promise across different segments of the life sciences value chain
  • Its market adoption in the life sciences industry
  • 15 leading providers’ profiles

Membership(s)

Life Sciences Business Process

Life Sciences Information Technology

Sourcing and Vendor Management

 

Page Count: 53