Use AI to raise the life sciences commercial IQ
August 31, 2018
In this unprecedented period of technology innovation where data, analytics and artificial intelligence are completely changing our understanding of disease, wellness and patient outcomes, life sciences commercial organizations should embrace artificial intelligence (AI) as a co-worker, collaborator, trusted advisor and enabler of more rapid response to patients’ and healthcare ecosystems' needs.
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Four applications in commercial
Artificial intelligence can significantly accelerate growth, profitability and sustainability for businesses on the commercial side of the life sciences industry.
Intelligent Automation
Automates time-intensive/redundant tasks to drive increased profitability
Enhanced judgement
Augment human decision-making and drive growth by improving the quality and efficiency of business intelligence
Enhanced interaction
Deliver superior customer experiences through dynamic brand interactions, personalization and real-time content
Intelligent products
Accelerate growth by creating intelligent/digital therapeutics
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Overcoming barriers & building foundations
Many life sciences companies perceive the application of AI to their business as a huge undertaking, involving broad-based transformation. That's at odds with what we have seen. In fact, our experience shows that the best way to capitalize on AI's potential is to start small, with highly targeted use cases as outlined.
We have identified a few general principles which can serve as guideposts when you embark on your AI journey:
- Ensure you have senior sponsors, appropriate budget and a task force
- Accept the fact that "failure is an option"
- Have enough data to draw conclusions / generate recommendations
- Know precisely what questions you would like your computer model to answer and what are the actions / next steps that can be taken once you know the answers
Download the full report to see all 8 guideposts and to see examples of how AI can be used in commercial operations, marketing operations, sales operations, and patient engagement.
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