How is Intelligent Automation Unveiling its Potential in the Life Sciences Industry?
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Life Sciences Review | Monday, June 22, 2020
Experts have witnessed an exponential growth of the automation programs throughout the leading life sciences companies at all sizes of the organizations.
FREMONT, CA: The life sciences industry is standing at a transformational crossroads, creating its future by adopting intelligent automation. The deployment of intelligent automation can improve operations, augment time to market, increase the cost savings, and improve the customer experience. Close to one in three life sciences enterprises have adopted intelligent automation. The driving factors behind this growth are the promises of higher efficiency, improved customer experience, and increased compliance.
The anticipated expansion in intelligent automation in the life sciences industry spans in all segments: discovery and research, manufacturing, development, sales and marketing, supply chain, and distribution. The drug and product development field is predicted to expand the most. Still, the growth in the adoption of intelligent automation throughout the value chain ranges between 55 percent and 70 percent.
On the manufacturing area, intelligent automation can offer continuous plant monitoring and help to speed up the advanced decision systems. Sales forecasting and customer behaviour analysis remains to assist in the sales and marketing area.
Intelligent automation can optimize inventory and result in predictive device maintenance in the supply chain and distribution area.
The life sciences industry has traditionally been slow to adopt automation technologies because of the regulatory and conservative processes. Yet, with the advancements of artificial intelligence and automation in life sciences and the recent successes that have been witnessed, the adoption rate has boosted.
Organizations want to embrace automation technologies that will free the staff to focus on strategic initiatives that lead to product innovation and improved business outcomes.
Most of the life sciences companies have shifted from desktop automation/attended Robotic Process Automation (RPA) to adopt software bot performance analytics, work orchestration, and centralized bot management. And they are in the process of transitioning to human-in-the-loop automation, dynamic load balancing, autoscaling, and workflow and business intelligence.
Many are starting to take another leap to realize the complete benefits of intelligent automation that includes predictive and prescriptive analytics, processing of unstructured data, and automation of tasks that includes judgment, as well as diagnostic, self-managing, and self-healing bots, among various other things.
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