Digital Lifescapes

The global COVID-19 pandemic has accelerated changes in many industries. One of the most impacted was the pharmaceutical sector that had to reimagine business processes and rapidly adopt new technologies. It's yet another example where applying cloud computing had become a strategic imperative. Today, next-generation pharma concepts are fueling ongoing innovation. In particular, the industry’s unique characteristics are driving investments in Digital Transformation by forward-looking pharmaceutical manufacturers.  According to the latest worldwide market study by ABI Research, digital factory revenue will top $4.5 billion in 2030 with spending by pharma manufacturers on data analytics forecast to grow by a 27 percent CAGR and reach $1.2 billion in 2030, as these companies evolve to boost productivity. Pharma Digital Transformation Market Development That said, the industry’s competitive dynamics require pharmaceutical firms to optimize their production lines to maximize yield for t...

Especially in times of crisis, technology can be the catalyst for much-needed change. The vendors that enable the Global Networked Economy have become essential to all forward-looking leaders that seek innovation as a tool to uncover new solutions to significant challenges. Medical-related industries have discovered their New Normal. The Coronavirus outbreak has proven that healthcare institutions can no longer ignore the role of Artificial Intelligence (AI) in their daily workflow. And, cognitive systems are essential components of their solutions to the current crisis. AI systems infrastructure spending in the healthcare and pharmaceutical industries is expected to increase from $463 million in 2019 to more than $2 billion over the next 5 years, according to the latest worldwide market study by ABI Research. Medical AI Apps Market Development "Artificial Intelligence is playing a key role in responding to the pandemic," said Lian Jye Su, principal analyst at ABI Res...

Digital trust is the measure of confidence in an organization's ability to protect and secure the data and privacy of individuals. An increase in related government regulations has motivated CIOs and CTOs to explore technology combinations to secure data assets and thereby improve stakeholder trust. As an example, the majority of Internet of Things (IoT) technology adopters in the U.S. are also adopting blockchain technology and combining it with their IoT networks, according to the latest market study by Gartner. "The integration of IoT and blockchain networks is a sweet spot for digital transformation and innovation," said Avivah Litan, vice president at Gartner . "It is actually moving ahead at a much faster pace than expected, according to the survey." IoT and Blockchain Market Development Seventy-five percent of IoT technology adopters in the U.S. have already adopted blockchain or are planning to adopt it by the end of 2020. Among the blockchain ad...

How can artificial intelligence (AI) technology improve traditional medicine? With 97 percent of all drug discovery programs reportedly failing, the development of a single new therapeutic involves an average cost of $2.6 billion. Helping to improve that process is a huge upside opportunity. Today, the complex research framework that's involved in the discovery and development of new therapeutic products makes drug innovation an extremely laborious process, according to the latest worldwide market study by Frost & Sullivan. Pharmaceutical AI Market Development More than 60 percent of known diseases remain untreatable. Meanwhile, life sciences companies are making progress in the fields of gene and cell therapies, omics technologies, and smart molecules approaches, creating the need for advanced, cost-effective technologies that can parse large quantities of data. "Pharmaceutical companies are increasingly recognizing the value of deploying AI-based platforms that c...