The AI in Business Podcast A Blueprint for AI-Driven Process Optimization for Regulated Industries - with Vrinda Khurjekar and Paul Pallath at Searce
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Jan 30, 2025 Explore how regulated industries like finance and healthcare are navigating AI adoption challenges while enhancing customer experiences. Discover the distinctions between Robotic Process Automation and agentic AI, and how effective integration requires a process-first approach. Delve into ethical dilemmas in healthcare, emphasizing patient care and collaboration with regulators. Finally, examine the evolving dynamics between banks and regulators in the UK, and the transformative role of AI-driven solutions in improving customer service.
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Challenges in Regulated Industries with Traditional IT
- Regulated industries like financial services and healthcare face challenges with outdated IT systems and rudimentary processes.
- These traditional solutions hinder innovation and create a need for modernization.
The Adoption Dilemma in Regulated Industries
- Traditional companies in regulated industries face a dilemma regarding AI adoption.
- They fear missing out but also hesitate due to regulatory complexities and the fast-paced innovation of FinTechs and health techs.
AI vs. RPA: A Fundamental Shift
- AI solutions offer a fundamental shift from RPA by understanding processes contextually.
- AI can interpret documents and make decisions based on the context, unlike RPA's hard-coded approach.