Cary: A new global study conducted by SAS and Coleman Parkes Research highlights the growing optimism for Generative AI (GenAI) in healthcare and life sciences.
The survey, which included 477 industry leaders across life sciences, pharma, and healthcare, reveals significant opportunities and challenges in leveraging GenAI technology.
In healthcare, 46% of organizations are already using GenAI, with 95% planning adoption within the next two years.
The top benefits include improved efficiency in processing large data sets (89%) and better risk management (88%).
However, leaders remain concerned about data privacy and security, with 77% of healthcare executives highlighting it as a top challenge.
In life sciences, 58% of organizations have adopted GenAI, with 97% planning to implement it in the coming year.
The technology has led to increased efficiency and operational cost savings, particularly in data processing.
Despite its promise, data privacy and governance remain major concerns, with 79% of life sciences leaders expressing unease about security issues.
The study also found that synthetic data is gaining traction as a solution to data privacy and scarcity concerns.
About 56% of life sciences organizations and 46% of healthcare entities are already using or considering synthetic data for AI training.
Both industries are poised for a GenAI-driven transformation, but data privacy, governance, and integration remain critical challenges to address. For more insights, the full report is available on SAS's website.
