This research paper explores the transformative applications of GenAI-driven Intelligent Document Management Systems (DMS) for the complex and intricate landscapes of biotech and healthcare organizations. These industries are grappling with huge generation of data and documents due to challenges in handling them with efficiency, accuracy, and compliance. Traditional DMS are valuable but depicts limitations in processing and handling the complex and multifaceted nature of such data produced in healthcare and biotech organizations. The aim of this research study is to focus on the integration of Artificial Intelligence (AI), particularly GenAI as a solution to these challenges. GenAI, which is characterized by its advanced level generative capabilities, depicts potential to revolutionize the document management system by comprehending and producing responses like humans. The primary objective of this research paper is to understand the existing challenges, explore the potential role of GenAI with its features, applications, and benefits and its real-world implementation in biotech and healthcare organizations. This paper contributes valuable insights for the practical implementation of GenAI in the healthcare industry. By synthesizing past research studies, case studies, and an in-depth analysis, it addresses the specific needs of document management in the biotech and healthcare sector. Furthermore, the paper analyzes the benefits, challenges, and prospects of integrating GenAI-driven intelligent document management systems that provide a foundation for organizations requiring improved efficiency in document handling within the specialized domains of biotech and healthcare.