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AN INDUSTRY ON THE BRINK OF RADICAL REINVENTION

Putting patients at the heart of IT innovation

Patients and consumers are taking on an increasingly active role in the management of their health and wellness. Digital health capabilities are becoming a regular component of everyday life -- raising the bar on the choices available to people across the world. As leading companies take bold steps to further personal empowerment, we are seeing products and solutions that are more relevant, more powerful and more emancipating than ever before.

Those companies that design technology solutions shaped to put patients and consumers firmly in control of their own health and how they live with an illness or disability will see returns that go well beyond a healthy bottom line.

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FIVE TRENDS IMPACTING THE LIFE SCIENCES INDUSTRY

The five trends in this year’s Accenture Technology Vision for Life Sciences center around technology empowering patients and consumers--making the world of healthcare a more human place.

AI  IS THE
NEW
 UI

AI is the New UI
AI IS THE NEW UI
Making smarter interactions

In the life sciences industry, Artificial Intelligence (AI) is expanding from a backend capability to taking on a much more sophisticated role in making patient and consumer interactions simpler and smarter. But while diagnostic capabilities powered by AI are advancing at pace, we’ve yet to reach the point where they can take responsibility for the end-to-end diagnosis-to-treatment cycle.

AI’s real promise is in reinventing and enabling individual empowerment and improved health. To that end, life sciences companies must push AI’s capabilities and applications further.

74% OF LIFE SCIENCES EXECUTIVES BELIEVE ARTIFICIAL INTELLIGENCE (AI)  WILL RESULT IN SIGNIFICANT CHANGE (53%), AND EVEN COMPLETE TRANSFORMATION (20%)  OF THEIR INDUSTRY OVER THE NEXT THREE YEARS.
AI's use in key clinical health applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026.

Next Trend

ECOSYSTEM
POWER PLAYS

Ecosystem Power Plays
ECOSYSTEM POWER PLAYS
Accelerating innovation and go-to-market

The life sciences industry is beginning to align on standards and codes of practice that will support platform-based ecosystems. Ecosystems provide an opportunity for companies to accelerate innovation and discovery as well as help in the shift to value-based business models.

With 30% of life sciences executives indicating their organization is aggressively taking steps to participate in digital ecosystems, it’s clear that leading organizations are wasting no time in redefining how they create, deliver and recapture value in the future.

90% OF LIFE SCIENCES EXECUTIVES BELIEVE IT IS CRITICAL TO THE SUCCESS OF THEIR BUSINESS TO ADOPT A PLATFORM-BASED BUSINESS MODEL AND ENGAGE IN ECOSYSTEMS WITH DIGITAL PARTNERS.

Next Trend

WORKFORCE
MARKETPLACE

Workforce Marketplace
WORKFORCE MARKETPLACE
A new approach toward productivity

The arrival of the on-demand enterprise, enabled by a surge of on-demand labor platforms and online work management solutions, will be key to the rapid innovation and organizational changes life sciences companies will need to make in the digital marketplace.

New flexible workforce solutions offer huge potential in many areas of life sciences. To meet the changing demands for talent in the future, life sciences companies must put in place blended workforce strategies and capabilities that provide greater access than ever to qualified talent.

73% OF LIFE SCIENCES EXECUTIVES AGREE THAT THEIR ORGANIZATIONS ARE UNDER EXTREME PRESSURE TO EXTEND INNOVATION INTO THEIR WORKFORCE AND CORPORATE STRUCTURE.
50% OF BIOMEDICAL RESEARCHERS ARE NOW MILLENNIALS.

Next Trend

DESIGN
FOR HUMANS

Design For Humans
DESIGN FOR HUMANS
Personalizing the patient experience

The new era of empowerment implies that products and solutions are designed to give patients control over their lives and health. This means designing offerings that apply technologies that learn from and adapt to human behavior, and not the other way around.

For life sciences companies, a focus on bringing patients into the heart of design and delivery is critical to achieving the health outcomes they need. In turn, companies will gain valuable insights to fuel the next wave of innovation in patient care.

78% OF LIFE SCIENCES EXECUTIVES BELIEVE THAT A NEW  COMPETITIVE DIFFERENTIATOR  WILL BE UNDERSTANDING THE  CONTEXT IN THE CUSTOMER EXPERIENCE AND CREATING TECHNOLOGY CAPABILITIES THAT ALIGN TO HUMAN BEHAVIOR.

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THE
UNCHARTED

The Uncharted
THE UNCHARTED
Keeping innovation in check

Companies are no longer exclusively focused on developing products that cure or treat diseases – they need and want to go further. They want to bring products and services to the market that truly improve patients’ lives while delivering better outcomes across constituents in the value chain.

The overarching shift from “volume to value” is pushing companies into uncharted territory. Life sciences companies and regulators will need to collaborate more closely to ensure new innovations are not held back by a trailing regulatory environment.

74% OF LIFE SCIENCES EXECUTIVES AGREE THEIR ORGANIZATION IS ENTERING ENTIRELY NEW DIGITAL INDUSTRIES THAT HAVE YET TO BE DEFINED. See how we helped Biogen create a first-of-its-kind quantum computing application to accelerate drug discovery.

Next Trend
AI is the New UI
AI IS THE NEW UI
Making smarter interactions

In the life sciences industry, Artificial Intelligence (AI) is expanding from a backend capability to taking on a much more sophisticated role in making patient and consumer interactions simpler and smarter. But while diagnostic capabilities powered by AI are advancing at pace, we’ve yet to reach the point where they can take responsibility for the end-to-end diagnosis-to-treatment cycle.

AI’s real promise is in reinventing and enabling individual empowerment and improved health. To that end, life sciences companies must push AI’s capabilities and applications further.

74% OF LIFE SCIENCES EXECUTIVES BELIEVE ARTIFICIAL INTELLIGENCE (AI)  WILL RESULT IN SIGNIFICANT CHANGE (53%), AND EVEN COMPLETE TRANSFORMATION (20%)  OF THEIR INDUSTRY OVER THE NEXT THREE YEARS.
AI's use in key clinical health applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026.

Next Trend

AUTHORS

Brags Srinivasan

Brags Srinivasan

Managing Director,
Global Life Sciences Technology Lead
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Anne O’Riordan

Anne O’Riordan

Senior Managing Director,
Global Life Sciences
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Gro Blindheim

Gro Blindheim

Managing Director,
Life Sciences Management Consulting

Mail to Gro Blindheim. This opens a new window.

Christina Gunther

Christina Gunther

Offering Development Manager,
Accelerated R&D Services

Mail to Christina Gunther. This opens a new window.

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