The healthcare and life sciences (HCLS) industry operates within a complex set of rules and regulations, a continuous build of evolving knowledge, and a constantly changing market.
Against this backdrop, understanding R&D operational data has become increasingly critical to overcoming obstacles, complying with a growing number of regulations, meeting rising safety standards, and accelerating drug and device discoveries and innovations. Skyrocketing demands for better healthcare, coupled with the need to analyze astronomically large data sets, fuels record-breaking artificial intelligence (AI) adoption rates.
But rapid adoption does not necessarily translate to rapid mastery. Before a tool like generative AI can produce helpful results at superhuman speeds, humans must bring the model up to speed.
Brilliant minds can produce brilliant science; HCLS company R&D efforts repeatedly prove this point. Diverting their focus to training a generative AI model or delaying their progress while data science teams do the training is untenable in an industry where a lot is at stake.
Plug-and-play options that are uniquely pretrained to perform industry-specific R&D tasks are much more efficient solutions—but relatively rare given the recent emergence of generative AI models on the market.
An R&D operations offering developed by PwC on AWS can help. Here’s a look at how it works and what it can do.
The difference AI makes in R&D processes
For years, HCLS companies have searched for a single app that can centralize several key R&D data sets like project and resource management, financial forecasting, and portfolio analysis and reporting. While some of the singularly focused apps come with advanced analytics or AI features, they perform individually, creating silos that could complicate oversight and management—and even create gaps in essential data points between one silo and another.
The key? Combining data on a single platform that provides both the rigidity of industry-specific compliance criteria and the necessary agility to harness AI/ML models and advanced analytics.
The R&D operations service offering by PwC and AWS is designed to provide this unique solution. Built from PwC’s experience and data from decades of advising and partnering with the HCLS industry, it delivers a distinctive infrastructure capable of processing automation, generative AI, ML, and advanced predictive analytics at will.
The final outcome
The R&D operations service offering by PwC and AWS can rapidly ingest data and ease processes. This allows leaders to ask questions and gain better insights through data analysis, in alignment with an industry-standard model, while establishing analytics-ready datasets and forecasts on demand – all integrated into a single dashboard.
The service offering continues to evolve. Currently, PwC is expanding it to include a generative AI chatbot, advanced machine learning capabilities, portfolio and other simulations, and a scenario planning engine.