• Meghann Chilcott

How Data Analytics And Artificial Intelligence Are Changing The Pharmaceutical Industry

Whether your organization has already begun the necessary process of incorporating data analytics and artificial intelligence into pharmacy operations or it is undergoing a due diligence project to decide if it's time to implement a pharmacy technology upgrade initiative, one thing is for sure: Data analytics and artificial intelligence will have a tremendous impact on how pharmacies operate, both today and well into the future. Pharmacies that are early adopters of such technology will have strategic advantages over those pharmacies that choose to delay.

Pharmacies that embrace pharmacy technology could generate a lot more money than pharmacies that don't. According to McKinsey (via TechEmergence), "Big data and machine learning in pharma and medicine could generate a value of up to $100 billion annually, based on better decision-making, optimized innovation, improved efficiency of research/clinical trials, and new tool creation for physicians, consumers, insurers and regulators."

Here are some ways that data analytics and artificial intelligence are changing the pharmaceutical industry.