Published By: Cognizant
Published Date: Oct 23, 2018
A group of emerging technologies is rapidly creating numerous opportunities for life sciences companies to improve productivity, enhance patient care and ensure regulatory compliance. These technologies include robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), blockchain, the Internet of Things (IoT), 3-D printing and augmented reality/ virtual reality (AR/ VR). This whitepaper presents a preview of five pivotal technology trends remaking the life sciences industry: AI and automation, human augmentation, edge analytics/ processing, data ownership and protection, and the intermingling of products and services.
Whilst the FSI sector races to implement cutting-edge technologies such as AI, blockchain and automation, there are no mutually agreed upon set of best practices to implement these technologies. As a result, organisations are using their own blend of strategic initiatives and company culture to drive innovation, with varying levels of success. To help, this article features advice from five of the leading experts in the FSI and technology sector today.
Blockchain, called the “tech breakthrough megatrend” by PWCą, is rapidly gaining broad acceptance. According to IDC, global spending on this innovative technology is expected to reach $2.1 billion in 2018.˛ Across the globe, industries are investigating ways to use blockchain to increase trust across their business value chains and address primary challenges around complexity, transparency, and security.
Blockchain is reimagining the way enterprises operate. It’s a powerful new
enterprise technology that can be used across vertical and application
domains to realize greater efficiency, support new business models
and revenue sources, and enhance the security and elevate the trust of
How IBM can help
As one of the world’s leading research organizations, and one
of the world’s top contributors to open source projects, IBM
is committed to fostering the collaborative effort required to
transform how people, governments and businesses transact
and interact. IBM provides clients the blockchain technology
fabric, consulting and systems integration capabilities to
design and rapidly adopt distributed ledgers, digital identity
and blockchain solutions. IBM helps clients leverage the
global scale, business domain expertise and deep cloud
integration experience required for the application of these
technologies. Learn more at ibm.com/blockchain.
The IBM Global Electronics practice uniquely combines IBM
and partner services, hardware, software and research into
integrated solutions that can help you deliver innovation,
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your global operations. Please visit ibm.com/electronics
Whilst the FSI sector races to implement cutting-edge technologies such as AI, blockchain and automation, there are no mutually agreed upon set of best practices to implement these technologies. As a result, organisations are using their own blend
of strategic initiatives and company culture to drive innovation, with varying levels of success. To help, this article features advice from five of the leading experts in the FSI and technology sector today.
Several of the most visible tactics to kick-start innovation in FSI organisations include launching innovation or incubation centres, launching hackathons, partnering with or acquiring start-ups, venture investment or simply trying to develop solutions in house. Whilst each of these approaches has potential, there is a risk that organisations fall into the trap of innovation theatre, in other words, failing to effectively integrate cutting edge technology into key business functions.