Digital technology has changed the way new drugs are developed

#digitaltransformation #dx #digitaltechnology
DX (digital transformation) means different things to different organisations. For some it may mean huge investments in new technologies, while for others it will mean strategic application of select digital technologies in key areas of the business. However, it is important to note that improving the short and long-term capability of the business to enable growth and increase profit should be a common goal, and managing the inevitable changes that DX of any kind will bring is a common challenge that must be addressed through the development of a comprehensive change management program.

When we talk specifically about the pharmaceutical industry, where they have extensive experience in imaging and diagnostics, they can build a platform that brings together a strong diagnostic and therapeutic core and specialized digital offerings, and systematically expand it across multiple functionalities. Digital technology has considerably changed the way new drugs are developed. Evolutionary algorithms, neural networks, natural language processing (NLP), machine learning (ML), wearables and IoT optimize the workflows in pharmaceutical organizations, automating the previously routine and manual tasks, and considerably speeding up drug discovery processes. NLP is focused on processing texts and natural language to infer meaning from the words and texts. NLP methods to help in evaluating the possibility of carrying out clinical trials in a specific location, and finding volunteers to ensure compliance with the trial deadlines and budget.

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