Five technology trends – AI and automation, human augmentation, edge analytics/ processing, data ownership and protection, and the intermingling of products and services – are currently changing the life sciences industry.
Emerging digital technologies are fueling innovation and transforming the life sciences industry by introducing new business models, products and services and enhancing patient experience. These technologies include robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), blockchain, the Internet of Things (IoT), 3-D printing and augmented reality/virtual reality (AR/VR).
As always, these technologies are unlocking great opportunities as well as enormous risks. Life sciences companies will need to speed decision-making before adopting new technology to keep pace with more nimble, fast-paced, digital-savvy players who are beginning to pose a threat by introducing technology-enabled new business models.
This white paper explores the five themes, together with key technological advances and evolving business models that are transforming the life sciences industry.