7 TCS AI for Business Study TCS AI for Business Study – Life Sciences Report Executives want to innovate and make money with AI While innovating with AI is among the top priorities, Life Sciences executives are less focused on using AI to spur innovation and grow revenue than are executives in other industries. On a 10-point scale between “optimization” and “innovation,” Life Sciences executives averaged 5.84; the average for all other industries was 6.79. Q. On a scale of 1 to 10 — where 1 is solely interested in using AI to lower costs and optimize operations and 10 is solely focused on spurring innovation and revenue growth — where would your company's current approach toward AI fall? 34% 26% 16% 25% 6% 32% PACESETTERS Life Sciences 32% 29% Solely or mostly focused on using AI to lower costs and optimize operations Focused on optimization, but with an eye toward innovation Focused on innovation, but with an eye toward optimization Solely or mostly focused on using AI to grow revenue and spur innovation Life Sciences Pacesetters closely followed their industry’s trends: of respondents at Pacesetter organizations said they were primarily focused on innovation 61% 39% said they were more interested in using AI to cut costs