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Organisations need to take a strategic view and maintain a pipeline of use cases that helps them reconfigure and prepare for the new normal. PwC’s Enhance and Explore framework assesses the typical footprint of AI-based use cases that firms have implemented or are planning to implement.
Enhance: AI-enabled use cases in this category have high current use and are also expected to have high adoption in the future.
Explore: Use cases in this category are at the exploratory stage and are expected to have wider acceptability and usage in the medium-to-long term.
While the above chart mostly lists use cases that have cross-industry applications, there are numerous industry-specific use cases (e.g. drug discovery and anti-money laundering) that can be plotted similarly along the Enhance and Explore spectrum.
On doing this, we discovered some interesting insights into the future of AI usage. For example, 35% of the firms in the healthcare and pharma sector are exploring AI-enabled demand forecasting and inventory management. This use case can have a significant impact for early adopters before the other 65% of the firms in the sector explore it. The figure below details the categorisation of AI implementation across sectors, as per the Enhance and Explore framework.
|Travel and hospitality||Dynamic pricing model (71 %*)||Context-aware, targeted marketing (20%)|
|Healthcare and pharma||Clinical trial and drug discovery (67%)||Demand forecasting for inventory management (35%)|
|Financial services||Fraud detection and anti-money laundering (79%)||Reducing loan underwriting bias and risks (34%)|
|Retail and consumer||Hyper-personalisation of customer experience (75%)||Personality profiling of call centre agents/ customers (1 1 %)|
|Industrial products||A1-based virtual assistants for improved learning and development (64%)||Intelligent sanctions and compliance monitoring (10%)|
|Telecom, media and technology||Network threat prevention and detection (68%)||Intelligent and faster ticket management (12%)|
*Percentage figures reflect the percentage of firms in that sector currently implementing the use case or that will do so in the next couple of years. The list of use cases is not exhaustive.
Source: PwC analysis