Genpact’s GenAI slashes insight-creation effort for life sciences and healthcare

Real-time data is critical to delivering effective marketing strategies. But turning that real-time data into actionable insight is a costly, labor-intensive process that can slow the enterprise’s ability to respond. Genpact has cut that labor effort by 90% using a generative AI (GenAI) solution for a life sciences and healthcare products business in Latin America (LATAM).

Large healthcare organizations turn out daily reports on the media coverage of their products. These reports give leaders a heads-up on how their products are faring with the public and medical professionals, alerting them to issues and providing guidance on where, when, and how to focus marketing efforts.

Analysts must read media coverage and analyze and interpret news articles, social media posts, consumer comments, and more to write such media-monitoring reports.

GenAI solution saves 90% of the effort

Genpact’s solution eliminates 90% of the effort for analysts by assimilating information from multiple information channels in more than 10 LATAM regions, extracting metadata such as title, date, location, and author. It then applies natural language processing (NLP), powered by ChatGPT, to deliver automatic categorization, article summaries, and brand sentiment analysis. The solution speeds the time to insight by offering real-time access to public perception, enabling media analysts to focus more on providing guidance to support decision making.

Genpact tailored the prompt engineering required to help call out the prominence and tone of relevant media articles, identifying risks and opportunities the enterprise should prepare to act on. Firms can get data-driven and region-specific insights on the market perception of their products with less analyst effort.

Improving insights for sales, marketing, and customer services is proving to be the first GenAI target for many enterprises

Our report The bots ARE coming for your job after all predicted that sales, marketing, and customer services would be among the first functions to be impacted by GenAI—all sectors in which GenAI is now being applied to drive better and faster access to insight. Genpact has implemented GenAI case studies in customer care (saving 40% in resources) and cut the resources needed to analyze consumer and promotions data, for example. Exhibit 1 provides evidence that enterprises are indeed identifying sales, marketing, and customer services for the early adoption of GenAI. Case studies from those three sectors make up nearly half of all GenAI case studies shared with HFS to date. We will be gathering more case studies as we conduct our inaugural Horizons report on generative enterprise services, but it seems clear the sales, marketing, and customer services sectors will continue to dominate in the near term.

Exhibit 1: Sales, marketing, and customer service case studies are proving the first step in almost half of enterprise case studies shared by service providers to date

Sample: N= 78 case studies shared by service providers, Q3 2023
Source: HFS Research, 2023

Software engineering (denoted as “code” in Exhibit 1) is the next largest function impacted to date, but just six cases show up among our 78. Our regular conversations with industry leaders suggest this may be an under-representation, which may be explained by our collective hunger to hear stories of the value impacts of improved customer experience compared with the imperative-driven “cost-of-doing-business” of modernizing applications.

The Bottom Line: Apply GenAI to accelerate actionable insights, and you’ll augment your people’s ability to make decisions.

Genpact’s LATAM case study is one of many emerging in which service providers respond to live and current enterprise needs (see Exhibit 1). In this case, Genpact has taken the spade work out of gathering and analyzing data to give media analysts more time to focus on guiding what to do, based on insight. Enterprise leaders should take inspiration and consider where accelerating the development of actionable insights can give their people the time to provide better guidance and drive better decisions.