The life sciences companies that will gain competitive advantage can harness powerful and innovative technologies to successfully combine data and deliver customer-focused services.
FREMONT, CA: The life sciences sector stands to benefit from significant advancements in technology, research, and collaboration. This is because life sciences companies face mounting expectations about medicines that firms should produce better outcomes than existing ones. Real-time data should show back. Their efficacy claims and the medicines should enable optimized treatments. For realizing these goals, life sciences firms are breaking away from traditional ways of doing business and embracing technological advancements. Here is what the life sciences industry has in store for the future.
• Accelerating Research Through Cloud
As the vast size of genomic data causes storage and collaboration hurdles, the need for enormous computational work in research has slowed the speed of discovery. Fortunately, pay-per-use compute power is here to help, and it is in the industry on a massive scale. Cloud service providers are working with a global pharmaceutical company to complete computational chemistry less time, virtually screening a million compounds against a common drug target.
• Personalized Patient Experience
Digital communication with the patient will open significant opportunities for the industry to provide highly personalized services. As the pace of technological advancement increases, consumer and patient willingness to adopt innovative technologies will also rise. Self-service will become mainstream, and patients will demand an even greater level of personalized services in the future.
• Life Sciences 4.0
The industry is at the beginning of the next industrial revolution, which will impact repetitive, high-volume, transactional processes. Back-, middle- and front-office processes will be automated and integrated, underpinned by infrastructure and services platforms. Process automation and RPA agents have the potential to achieve tremendous productivity benefits. RPA will enable the industry to rethink how clinical, safety, marketing and sales, supply chain, and application development processes are performed. At the core of life sciences 4.0 is a vision of smart factories. These will modernize information and communication technology across supply chains and production lines to provide a higher automation and digitization level.