As an industry that is constantly innovating and adapting, there is often the perception that life sciences developments have the potential to shape the industry for the future.
This is particularly relevant when discussing big data, Artificial Intelligence (AI), and analytics in life sciences.
Unlike industries such as financial services that have had a strong reliance on capturing, managing and using data to improve, the life sciences industry had its true realisation of the potential of data during the pandemic response.
In fact, healthcare and life sciences are part of a significant area of growth in data usage, initially with the intention of gathering big data to forecast case rates, mortality, and vaccine development.
In recent years, there has been a significant rise in data investment and initiatives within life sciences, with a greater optimism towards achieving more data-driven business outcomes moving forwards.
How is data emerging in life sciences, and what are the benefits?