1、GENERATIVE AIRADARLIFE SCIENCES Generative AI Radar Life sciences|3External Document 2024 Infosys Limited Generative AI Radar Life sciencesGenerative AI is still new,yet enterprises are already exploring its transformative potentialThis year will bring further developments in generative AI as organi
2、zations get to grips with it.Through this study we aimed to uncover how companies use generative AI,how much they spend on it,how its rolled out in organizations large and small,and where it makes an impact.We looked at 3,000 companies across 12 industries:Automotive Consumer package goods Energy,mi
3、ning,and utilities Financial services Healthcare High tech Insurance Life sciences Logistics and supply chain Manufacturing Retail and hospitality TelecommunicationsMany companies told us they are already spending significant sums of money and are set to spend more this year.However,this pattern isn
4、t the same across sectors.In this data book we highlight how life sciences compares with the rest of the pack.4|Generative AI Radar Life sciences External Document 2024 Infosys Limited Generative AI spending growth is slowLife sciences generative AI spending projected to grow slower than most indust
5、ries this yearLife sciences spending set to grow 36%in 2024 Life sciences firmsspent$470 million on generative AI in 2023.This is projected to grow to$637 million in 2024.This ranks life sciences among lowest spending sectors,about the same as telecommunications.Life sciences generative AI spendingE
6、xpected generative AI spending growth by industrySpending in millions($USD)2023202436%Reported spendExpected spend0200400600800$470$637TelecommunicationsRetail and hospitalityManufacturingLogistics and supply chainLife sciencesInsuranceHigh techHealthcareFinancial servicesEnergy,mining,and utilities