The AI in Business Podcast
A Blueprint for AI-Driven Process Optimization for Regulated Industries - with Vrinda Khurjekar and Paul Pallath at Searce
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.
29:04
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Quick takeaways
- Regulated industries face significant challenges in AI adoption due to outdated IT systems and strict compliance requirements restricting innovation.
- A process-first mindset is essential for effectively integrating AI into workflows, enhancing efficiency while ensuring adherence to regulatory standards.
Deep dives
Challenges in Regulated Industries
Regulated industries like financial services and healthcare encounter significant hurdles due to outdated IT systems and a restrictive regulatory environment. These sectors have been slow to adopt new technologies, primarily because legacy systems are deeply embedded and compliance needs dictate IT investments. Additionally, there is often a skills gap, as organizations within these industries may lack the necessary talent to implement current technological solutions effectively. Consequently, traditional companies often find themselves at a crossroads between the urgency to innovate and the caution required to adhere to regulatory frameworks.
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