5 Ways AI-Powered Content Intelligence Drives Digital Transformation in Life Sciences

By Marc Fuentes | May 7, 2021

To succeed in an intensely competitive environment, the life sciences industry is rapidly maturing and refining its digital initiatives. There is a push to leverage artificial intelligence (AI) and process automation to root out inefficiencies, bring drugs to market faster, and expedite traditionally paper-heavy processes. I recently sat down with Scott Mackey of Adlib and Keith Parent of Court Square Group to discuss what life sciences companies gain when they leverage AI-powered solutions. Read how this technology boosts digital transformation in life sciences.

Manage Risk

A robust Content Intelligence platform discovers and cleans content to remove redundant, obsolete, and trivial information, regardless of the content’s location, age, or format. Automation and AI can then be applied to streamline data classification at scale and extract and export intelligent data to the systems and people who need it. The ultimate goal is to create a single source of truth.

Everyone across an organization should be able to utilize the same source of quality data to answer evolving business questions, no matter which downstream enterprise systems they may be using.

Access to higher quality data results in real efficiencies that translate into bottom line results, whether that’s bringing a drug to market faster, eliminating costly manual processes, or both.

Streamline Processes Across the Compound/Device Lifecycle

When most people think about pharma and life sciences, they think about new, life-saving drugs and devices. But behind every new drug or discovery lies a mountain of unstructured data and a team that struggles to manage it.

From the data that is collected in the discovery and pre-clinical trial phase to the requirements needed for FDA compliance to manufacturing, the volume of data and the variety of formats is staggering.

You have different questions at different phases of a compound lifecycle, and AI helps get you answers to those evolving questions.

AI and automation can digitally transform huge volumes of correspondences, emails, control requests, contracts, agreements, reports, and more, into high-quality structured data at scale. It can also integrate with most existing enterprise systems, including RIM, ECM, BPM, and data and analytics solutions. Trainable AI also adapts to changing content and processes across the lifecycle of a drug or device.

Without clean structured data, companies can only benefit from automation in a limited capacity.

Improve Business Resilience and Compliance

Leverage machine learning (ML) to improve business resiliency and to mitigate risk associated with fast-changing regulations and supply chain disruptions. The secret lies in true data transparency and automating how content is acquired, accessed, and delivered. Strive to proactively address data privacy, GDPR, CCPA, PII, Brexit, LIBOR, IFRS 17, and any other emerging regulations.

Accelerate the ROI for M&A

Advanced Contract Analytics software uses AI and automation to improve time to value for mergers and acquisitions (M&A). For instance, a pharmaceutical company that purchases a compound from another business can discover content from thousands of documents and remove duplicates, redundancies, and obsolete and trivial data. The platform will perform document comparison and signature detection and group the contracts based on similarity.

To improve the time to value for M&A, locate high-value data, address non-compliance issues, and protect your company from liability.

Eliminate Expensive Manual Email Workflows

Replacing expensive manual email workflows with Digital Mailroom solutions is a critical piece of the puzzle. Depend on AI and automation to quickly find answers to your data-driven questions that are locked away in email, PDF documents, scanned images, and within over 300 other possible formats.

Leveraging automation is not about replacing people with machines. It’s about taking away the rote tasks and allowing subject matter experts to add value by utilizing their unique skills.

Let Adlib Empower Your Digital Transformation

Life sciences companies need robust, versatile systems as they continue to evolve their digital transformation strategies. Adlib’s Content Intelligence solution enables life sciences companies to accelerate time to market, improve operational efficiencies, and simplify regulatory compliance in a competitive environment.

Watch the webinar replay to learn how Content Intelligence helps life sciences and pharma companies supercharge their digital transformation strategies.

WATCH THE ON-DEMAND WEBINAR

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