The life sciences industry has always been propelled by research and innovation, more now than ever, with breakthrough drug development, massive investments to expedite drug launches, and opportunities for medical advancements. To put this into perspective, let’s consider the clinical development trends for the last ten years. There were more than 16,0001 assets in clinical development in 2019, and almost 1,7002 investigational new drug applications (INDs) were filed, up from 9,700 drugs in clinical development, and 1,300 INDs filed in 20103. Along with substantial investments in drug discovery and research and development, life sciences companies are also transforming in the areas of data management, business intelligence, and analytical capabilities by adopting digital transformation, artificial intelligence (AI), machine learning (ML), NLP (Natural Processing Language), and most pertinently, automation.
