4. Quantum computing
Large, multifaceted computations are handled much more quickly with quantum computers than with traditional computers. As a result, they can compare larger and more complex molecules, which can ultimately lead to increased speed and reduced costs in R&D. Quantum computing is not yet in wide use, but it is advancing quickly. Accenture Labs has collaborated with a quantum software company to conduct quantum business experiments through newly available quantum hardware platforms and software application programming interfaces (APIs). With one pharmaceutical company, for example, this technology was used to improve the molecular comparison model, and comparatively weigh different molecular variables, providing a clear advantage over the traditional “black box” comparison model.
5. Intelligent knowledge management
Capturing and sharing knowledge is central to R&D, and chemical companies can enhance those capabilities with AI-powered knowledge management solutions. These solutions can help address some of the key challenges of conventional knowledge management, such as struggling to keep up with ever-expanding amounts of information or the difficulty involved in finding the specific knowledge needed to solve a given problem. Intelligent knowledge management can improve the ability of those in R&D to efficiently capture, retain and leverage information, giving decision makers real-time access to critical knowledge to help drive innovation.
6. Co-creation platforms
Understanding and incorporating the customer is key to effective R&D and, ultimately, growth. As a result, many chemical companies now collaborate with customers—and suppliers—on innovation. Innovation management platforms can enhance this process by integrating R&D and IT and connecting them with partners. These platforms can help companies tap into the knowledge and expertise of suppliers, startups and others, and provide access to a wide range of skills, technologies and data. This can support an agile innovation-incubation process and help companies complete innovation projects more quickly, from the identification of new ideas to proofs of concept and deployment.