Businesses in highly-regulated industries like financial services, insurance, pharmaceuticals, and health care are increasingly turning to AI-powered tools to streamline complex and sensitive tasks. Conversational AI-driven interfaces are helping hospitals to track the location and delivery of a patient’s time-sensitive cancer drugs. Generative AI chatbots are helping insurance customers answer questions and solve problems. And agentic AI systems are emerging to support financial services customers in making complex financial planning and budgeting decisions.
“Over the last 15 years of digital transformation, the orientation in many regulated sectors has been to look at digital technologies as a place to provide more cost-effective and meaningful customer experience and divert customers from higher-cost, more complex channels of service,” says Peter Neufeld, who leads the EY Studio+ digital and customer experience capability at EY for financial services companies in the UK, Europe, the Middle East, and Africa.
For many, the “last mile” of the