AI To Drive Revenue Operations Of Pharma, Medtech Firms: Report

Life sciences and high-tech manufacturers are using advanced technologies to automate and optimise revenue operations with data-driven insights -- Suresh Kannan, Model N's Chief Product Officer

New Delhi: Majority of leaders in life sciences -- pharmaceutical and medical technology companies -- and high-tech companies like semiconductor, electronic component, and original equipment manufacturing are increasingly expecting Artificial Intelligence (AI) to drive revenue management in 2025, according to a report on Wednesday.

The report by Model N, a revenue management solutions provider, reveals that while 87 per cent of industry leaders are shifting toward automated revenue management operations, nearly 60 per cent still rely on multiple solutions.

In addition, 62 per cent are using or planning to implement generative artificial intelligence (GenAI) for revenue optimisation activities, including deal analytics, process automation, and forecasting.

The report found that companies with more than 10,000 employees are 51 per cent more likely than smaller organisations to use a unified revenue management solution.

“Life sciences and high-tech manufacturers are using advanced technologies to automate and optimise revenue operations with data-driven insights,” said Suresh Kannan, Model N's Chief Product Officer.

“The report highlights the value of integrating GenAI for revenue management and transitioning to a unified solution. By harnessing AI and consolidating platforms, organisations can unlock greater revenue optimisation opportunities, boost efficiency, and drive growth,” Kannan added.

Further, the medtech sector is also undergoing a similar transformation, the report said.