The pharmaceutical industry is currently facing various challenges, such as declining profit margins and increasing cost pressures.
To address these issues, companies are adopting innovative technologies as a key strategy. However, the journey towards digitalization is complex and requires substantial investment, commitment, and communication with stakeholders.
Despite the challenges, the pharmaceutical sector is making progress in its digital transformation efforts, with a focus on operations enablement and innovation.
Concerns about digital privacy, data security, and cybersecurity threats have emerged as important issues. Strong leadership is recognized as crucial for successful digital transformation.
Pharmaceutical executives are investing in AI, Big Data, and digital media, which are expected to remain disruptive forces in the healthcare sector.
The current investment priorities include Big Data, digital media, and cloud computing, with AI and Big Data anticipated to dominate future investments.
However, there are obstacles such as insufficient funding, organizational silos, and a lack of specific skills. Overcoming these challenges requires a culture of change and collaboration.
Digital transformation is essential for maintaining competitive advantage and meeting market demands and regulatory pressures in the pharmaceutical industry.