According to a report released on Wednesday, the majority of leaders in the life sciences, including pharmaceutical and medical technology companies, as well as high-tech businesses like semiconductor, electronic component, and original equipment manufacturing, are increasingly anticipating that artificial intelligence (AI) will drive revenue management in 2025.

While 87% of industry leaders are moving toward automated revenue management operations, almost 60% still depend on numerous solutions, according to a survey from revenue management solutions vendor Model N.

Furthermore, 62% are using or want to use generative artificial intelligence (GenAI) for revenue optimization tasks, including forecasting, process automation, and deal analytics.

Companies with over 10,000 workers are 51% more likely than smaller organizations to adopt a unified revenue management system, according to the survey.

According to Suresh Kannan, Chief Product Officer of Model N, “life sciences and high-tech manufacturers are using advanced technologies to automate and optimize revenue operations with data-driven insights.”

The need of integrating GenAI for revenue management and moving toward a single solution is emphasized in the paper. Organizations may increase efficiency, spur development, and uncover more revenue optimization potential by using AI and combining platforms, Kannan said.

According to the paper, the medtech industry is likewise going through a similar transition. The biggest effects on revenue programs are regulatory changes, such as the introduction of the Medical Device Regulation (MDR) by the European Union (40 percent) and healthcare pricing transparency (45 percent).

The integration of AI and automation into healthcare operations is already causing changes for almost two-thirds of MedTech organizations. In anticipation of further effects on revenue optimization activities, over 38% of executives are also concentrating on adjusting to value-based care models.

Many high-tech organizations are using channel data more and more; in fact, 87% of businesses consistently utilize channel sales data to guide their pricing management and optimization procedures. According to the survey, 74% of high-tech manufacturers aim to employ GenAI solutions, the highest percentage across all sectors, demonstrating the industry’s leadership in integrating new technology into business operations.

Due to supply chain disruption, 53% of businesses have diversified their suppliers, 51% have implemented new technology, and 50% have started sustainability projects.

Furthermore, 95% of high-tech executives voice worries about sales on the grey market and are taking steps to address the issue, including eliminating unapproved dealers and strengthening contract enforcement.