Gen AI Can Revolutionise Pharma In India, But It's Not Quite That Simple, Says EY

Generative artificial intelligence has the potential to revolutionise India's pharmaceutical and healthcare sectors by fostering efficiency and innovation. In the healthcare industry, gen AI is speeding up patient experience, revenue cycle management, and clinical operations.

According to an EY study, gen AI could drive productivity improvements of 30% to 40% across healthcare and pharma by 2030.

The EY study reveals a growing momentum in gen AI adoption, with 66% of healthcare organisations and 50% of pharmaceutical companies initiating proof-of-concept projects. In pharma, gen AI applications are in production in 25% of companies. 

Gen AI is being used to solve some of the most pressing issues in healthcare, from increasing access to high-quality care in remote areas to enhancing telemedicine and improving diagnostic accuracy. Operations was cited by 56% of organisations as a top priority for implementing gen AI, followed by clinical services, finance, and operations by 44%. Additionally, 33% identified customer service and sales as AI-impact areas.

Among pharmaceutical companies, 50% are focusing on customer service, manufacturing, supply chain, and operations, whereas 25% are prioritising procurement.

According to the study, these investments are delivering measurable impact: 44% of healthcare companies reported increased revenue and customer satisfaction, while 75% of pharmaceutical firms saw cost reductions and increased customer satisfaction.

The study identified some key areas that can be transformed by gen AI.

Healthcare: AI-driven automation in clinical documentation, revenue cycle management, patient engagement, and compliance could boost efficiency by 30% to 35%.

Pharma: With an estimated 32% to 34% overall impact and 500-plus roles analysed in pharma, AI-powered enhancements in sales (40%), supply chain (38%), and production (35%) could drive 35% to 40% productivity gains.

AI-powered medical documentation assistants are assisting healthcare facilities in creating and managing patient records more effectively, relieving physicians of administrative duties. Gen AI-powered revenue cycle management systems are also increasing accuracy, cutting expenses, and simplifying billing. AI-powered chatbots are improving patient engagement by automating common questions and offering round-the-clock assistance.

Gen AI-assisted R&D solutions in pharma are speeding up regulatory submissions and improving drug discovery. Golden Batch Analytics and other manufacturing AI technologies are increasing production efficiency and product quality. Sales teams are analysing market trends and providing healthcare providers with more data-driven recommendations.

Given the sensitive nature of patient data, data privacy and regulatory compliance continue to be top concerns.

Infrastructure modernisation is another issue because many healthcare organisations still use antiquated IT systems incapable of handling AI.

The lack of qualified AI specialists capable of implementing and overseeing these technologies is another significant obstacle.