Digital technologies and big data tools are transforming organisational structures, including that of healthcare. Digital solutions can help regulate the research process for new medicines and extend reach to previously underserved and understudied groups of people. Digital technology will also help to advance the method of data collection and analysis to better understand patient needs and advance medical treatments.
Three emerging technologies that will propel the next medical innovation revolution include the Internet of things, AI and machine learning, and emergence of data platforms.
Data from smart devices provide us with realistic information and helps us better understand beyond typical R&D approaches. Further AI and machine learning are changing the way we utilise data, resulting in quicker clinical trials process. They allow for a better comprehension of data sets so as to determine distinct observations from the many clinical trial experience. These additional information can help drug makers create new medicine more quickly, smartly and at a lower cost compared to conventional methods. In addition, the emergence of data platforms allow the storage, organisation and optimisation of data for analysis and insight generation.
The healthcare sector is also currently exploring the possibility of tapping onto tech companies’ compelling data processing potential to carry out real time data analysis on clinical trial datasets. Quantum computing can boost extensive processes on clinical and biological data manifolds. If adapted to create medicine design and target selection, this can increase the ability to carry out in silico research. Blockchain also helps to address the present challenges such as interoperability of data systems and data security.
The integration of emerging technologies into everyday processes will be challenges. However, it is also important for the creation of medical innovations. Hence, it is essential to merge technology industry’s culture with the pharmaceutical industry’s expertise, and is an aspect all professionals within the healthcare ecosystem should acknowledge.
Source: World Economic Forum
Participate in the upcoming QS Subject Focus Summit – Medicine under the theme of “Advancing the Medical and Health Sciences: Education, Research & Collaboration” from 23-25 January 2019 in Surabaya, Indonesia.