Top trends and priorities focus on modernization, innovation, automation and talent

We met with 35 life sciences executives to understand their top priorities and how they are preparing for and adapting to key trends shaping their organizations. This year, executives are prioritizing:

  • Digital transformation to improve patient and business outcomes
  • Modernization of IT to help drive innovation of new products and services
  • New areas of focus such as process automation and talent acquisition and retention
Researcher working in a lab

Leaders focus on data quality and AI for innovation.

100%
say improving data quality is the top data strategy improvement initiative over the next 3 years
38%
cite AI as the top innovation priority over the next 3 years
70%
are exploring GenAI, while traditional AI implementations are up

Legacy systems, cloud solutions and business model agility are impacting digital strategies

 

  • Legacy systems hinder implementation of digitization strategy
    82% face medium-to-high legacy system challenges; planned modernization to rise
  • Use of cloud solutions supports digital acceleration
    91% are using cloud-based solutions
  • Business model agility is needed to advance digitization strategy
    19% have a highly agile business model to address digitization

 

two medical professionals working in pharmacy

What digital leaders do to accelerate results

Executives stating their organization is generating expected results from their digitization strategies—the digital leaders—share common attributes that enable them to accelerate outcomes compared to others. For example, in life sciences, digital leaders:

connectors icon

Have highly agile business models

+9pp

vs. life sciences industry average

padlock with connectors icon

Extend data protection strategy to ecosystem

+8pp

vs. life sciences industry average

mechanical gear icon

Have business models highly impacted by digitization

+5pp

vs. life sciences industry average

pp = percentage points

Recommendations for enabling data-driven efficiency and innovation

1

Accelerate digital transformation in R&D: leverage digital platforms and data-driven insights.

2

Leverage AI-powered drug discovery and development: optimize clinical trial design and time-to-market.

3

Implement data security solutions: protect intellectual property, research and sensitive information.

4

Automate processes for lab efficiency: streamline workflows, reduce errors and improve reproducibility.

5

Gain insights for commercial success: analyze market trends, consumer behavior and competitor activity.

6

Create an agile supply chain: reliably distribute pharmaceutical products and medical devices globally.

medical professional working in lab holding tablet