From artificial intelligence (AI) to data analytics and algorithms, life sciences companies are faced with the challenge of how best to leverage digital technologies. Capitalizing on the continuing digital transformation of the industry is key to driving innovation, remaining competitive and increasing profitability.
AI Applications in Life Sciences
The life sciences industry has seen an enormous rise in AI, as early adopters pioneer new uses and solutions and technology leaders create incentives to spur further innovation.
Virtual Diabetes Clinics: Companies like Onduo, Omada, Livongo, and Virta Health use AI to create patient journeys and interventions based on predictive analytics and deep data analysis. When combined with remote patient monitoring and virtual coaching, individuals are better able to maintain glucose levels in a healthy range.
In Vitro Fertilization: Researchers are using AI to assess embryo quality before insemination based on a massive set of images initially reviewed by trained embryologists. Automating and standardizing the process increases success rates.
Early Detection: AI is a powerful screening and diagnostic tool. Bayesian Health built an AI platform to glean clinical insights and early alerts from data in a patient’s electronic medical record (EMR) and improve patient outcomes. And a number of hospitals are using algorithms that scan patient records and clinical notes to pinpoint possible symptoms of sepsis – a common and preventable killer – to enable early intervention with life-saving treatment.
Fall Prevention: In September, Apple will announce a Walking Steadiness function in the latest iPhone and Apple Watch, which tracks and analyzes mobility data and sends alerts to users about their potential risk of a fall.
Disease Prevention: The Mayo Clinic formed Anumana, a company using AI to scan electrocardiogram data to detect cardiac conditions. The Mayo Clinic will seek FDA approval to share the tool with customers throughout the United States.
Unified Digital Tools in Life Sciences
With the high volume of digital technologies, companies need to consistently deliver more precise and accurate information to patients and physicians that allows them to make faster and efficient decisions.
Several companies have accomplished this through mergers and acquisitions. One successful example is Evernorth’s acquisition of MDLive. Evernorth — which provides pharmacy services, medical benefits management and health services – added the MDLive’s telehealth capabilities and potential expansion into areas such as chronic care and dermatology.
Supporting the Digital Lab
Laboratory automation simplifies operations, increases data integrity, and accelerates throughput. These improvements make it easier for companies to meet the demand for innovation, better manage data and analytics, control costs and deliver value. With overall compliance efficiency, these companies will stand ahead of their competitors in the digital landscape.
Emerging Technologies in the Life Sciences Industry
It is clear that while a number of digital technologies are already present in the industry, more will continue to emerge as companies continue to invest and innovate in the field.
On July 23, Amazon Web Services will select ten U.S. healthcare start-ups to partake in their four-week digital health accelerator program. Through this program, businesses will focus on leveraging technologies like voice technology, analytics, and virtual care.
Ensuring Quality and Remaining Compliant
Recently, The World Health Organization issued its guidance on the ethical use of AI in health care. With more and more digital technologies emerging, it has become difficult to ensure that each platform meets the set standards.
For example, while algorithms appear to be a promising healthcare tool, they are not the most reliable or accurate. Depending on the algorithmic settings, the tool may generate false positives or, on the other hand, may miss the identification of an individual with sepsis altogether.
These emerging technologies enhance the digital landscape within the industry. However, it is crucial that businesses understand and effectively manage the data and analytics behind them to ensure quality care and regulatory compliance.
Here at Clarkston, we bring leadership and expertise to help life science companies with digital transformation. From digitalization strategy and training to implementing AI, robotics and automation, our team at Clarkston helps to optimize operations and enhance efficiency in the digital sphere.
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Contributions by Rachel Ruth