How Pharma, Telecoms, Finance & Governance are Navigating Digital Transformation

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Jarif
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Joined: Mon Jan 09, 2023 7:23 am

How Pharma, Telecoms, Finance & Governance are Navigating Digital Transformation

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Digital transformation is underway in many organizations, as companies exploit the opportunities and benefits presented by digital technology to build their brand, connect with customers, and enhance sales models. However, there are some differences from one industry to the next. The culture, systems, processes, and capabilities of each industry all come into play when embarking upon digital transformation. As a result, the pace at which industries are changing differs. In this article, we take a closer look at four major industries - pharma, telecoms, finance and governance (as well as government) - that are leveraging digital to drive business success, and consider what challenges and opportunities the future holds for each. Have a read of our recent blog for a refresher on What is Digital Transformation? A Guide for Businesses. Health & Pharma Traditionally, the health and pharma industry has been slow to incorporate digital technologies.

However, at the start of the Covid-19 pandemic, pharma companies prioritized investments in digital innovation and incorporated it across the business. According to Deloitte’s survey of biopharma leaders, their organizations need to solve fundamental issues such as dedicated funding (59%), a better digital innovation strategy (49%), and the right talent (47%) to scale digital innovation. In addition, certain digital technologies such as the cloud, AI, data lakes and wearables have been adopted in day-to-day Bitcoin Email Leads operations while others such as quantum computing and digital twins are still nascent. Biopharma digital technologies Biopharma digital technologies With the internet offering people information at the touch of a button, patients behave differently today. Eurostat found that 53 percent of EU citizens sought online health information related to injury, disease, nutrition, or improving health. As patient behavior changes, the pharma industry has responded. Now, with digital at the forefront of their strategies, innovative practices are helping to enhance healthcare.

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Our recent podcast dives into healthcare marketing if it’s an area you are interested in. Use cloud for data storage and analytics Cloud technology has enabled pharma companies to provide scalability and agility so employees can collaborate, securely store and share data, build data lakes, and run AI and machine learning (ML) algorithms. Global pharma company Takeda recently collaborated with Accenture and AWS to take a cloud-first technology approach. Speaking on the move to adopt cloud technology, Takeda’s CEO, Christophe Weberda said: “My vision is to deliver transformative therapies and better experiences to patients, physicians, and payers faster than previously possible.” A cloud approach will help the pharma industry to: Enable data and analytics Allow demand forecasting Standardize processes Enhance scale Reduce integration time and costs Reduce technology and innovation cycles Harness the power of Artificial Intelligence (AI) for R&D and clinical trials Global AI in the pharma market is expected to grow to $2.8 billion in 2025 at a rate of 32.9% and reach $9.1 billion in 2030. The reason for the growth.
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