Supercharge Strategy with Targeted Innovation

Authored by: Amanpreet Singh Loomba, Director, Data Products & Platforms, Putnam (Inizio Advisory)

Innovation in data and AI will revolutionize decision-making in the pharmaceutical industry, but identifying where to start can challenge even technical leaders. Choosing the right use cases for technology can be daunting, yet when done right, it amplifies strategic insights.

With our proprietary platform, InizioNavigator.ai, we believe the key lies in combining real-world pharmaceutical expertise with cutting-edge technology to tackle tasks with the highest potential impact.

What we see at Inizio: Data Challenges

Before we discuss identifying tasks ripe for innovation to deliver strategic insight, it’s important to examine the challenges our clients face. Data, for instance, is now part of our everyday work lives, and the pharmaceutical world requires unprecedented amounts of data to support decision-making. At Inizio, we see many challenges in the industry around the capacity to process large volumes of data efficiently and sustainably. Secondly, there is a need to harmonize diverse data sets, be they text, audio, or video.

With so many important data points, such as internal Enterprise Resource Planning (ERP) sources, websites, and social media, the task has become as exciting as it has been overwhelming. Unlike other industries, the pharmaceutical landscape also has another layer of data—a highly nuanced and scientific nature. As technology advances, the right skills for pattern recognition and predictive analysis to extract actionable and relevant insights from scientific data sets also present a problem.

And then there’s the regulatory and compliance with the arrival of generative AI, which has somewhat thrown a spanner in the works of a previously mature data compliance landscape.

Strategic Human Oversight Meeting Challenges

As our team of data scientists and engineers navigates these challenges for our clients, it’s become abundantly clear that as access to data increases and technology advances, the reliance on expertise has to rise to meet it. Data science in pharmaceuticals is unlike any other industry; it relies on those with a specific skill—a very nuanced one—to oversee, question, and retrieve actionable insight.

By developing a state-of-the-art data platform that is scalable and secure with human oversight for governance, we have created an ecosystem designed to help solve data and AI challenges.

We have developed very targeted tools as part of InizioNavigator.ai in specific areas of focus to answer current challenges for our clients, and there is no doubt that these will evolve to meet tomorrow’s evolution of data and AI. The following tools address use cases or tasks that present the most significant market challenges and deliver the greatest insight:

1. Analyzing nuanced scientific data. AssetNav supports clinical trials and the nuances associated with that data. It helps you analyze the pipeline and in-market assets efficiently.
2. Disparate data sources and data generated during the Medical Affairs activities. ClarityNav is designed to make sense of near real-time data to gain quick depth and breadth of actionable insight at speed.
3. Mass qualitative survey data with integrity. SurveyNav provides near real-time analysis of quantitative surveys (text, image, and video). It is also a bot-proof survey analysis tool that uses pattern recognition to determine whether bots are taking the surveys.

The Value of AI: Workflow Automation, Accurate Research, and Pattern & Correlations Humans Might Miss

When selected for the most aligned tasks, the value of AI is tenfold. On its most basic level, workflow automation meets the fundamental value of executing a task faster to free up an expert’s time to strategize and identify actionable insights. Notch this up a level, and there is the deep, profound, and accurate research work where consultants can narrow the focus even further. However, the real value comes with figuring out patterns and correlations, which humans can only do slowly. At this point, pharmaceutical companies can see deep insight and take advantage of every opportunity for action or spotting adverse events in data files for high-level accuracy and gain.

Summary and key takeaways

With so much potential in data and AI, it can take time to figure out where to start. The key is to focus on the right areas. With their deep understanding of the pharmaceutical industry, human experts can help identify the most promising tasks (use cases) to apply innovation. By aligning technology with specific challenges and opportunities, we can unlock the full potential of data and AI to improve patient outcomes and drive business growth.

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About Inizio Advisory

Through our combination of people, solution-orientated work, and data-driven insights, we help our clients navigate the commercialization journey confidently. We connect the power between our four connected businesses to provide unified solutions that not only tackle the ‘dilemmas’ but deliver long-term value for global healthcare leaders and their patients.