David Bennett, life sciences advisor, Mind Foundry explains why it's prime time for the pharma industry to embrace data.
Data science
AI and machine learning are rapidly entering the life sciences industry with the promise to boost productivity, speed up innovation and power data-driven decision-making. The next generation of cloud-based solutions are key to the successful adoption of these technologies and moving AI and machine learning beyond the current ivory towers of data science and into the hands of employees.
The pharma conundrum
Life sciences organisations are facing disruption from internal and external sources. On one hand, we are seeing a shifting dynamic of rising payer – or formulary – power in the industry, coupled with a decrease in physician’s prescribing influence and society’s willingness to pay. Deciding where to focus spending sin the face of lagging productivity and R&D returns is compelling more and more biopharma companies to evaluate the possibility of automation.