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Products & Services Medical Affairs Medical Affairs Excellence

Current and Anticipated Applications of Artificial Intelligence (AI) in Medical Affairs

ID: POP-344


Features:

30 Info Graphics

55 Narratives


Pages: 40


Published: 2021


Delivery Format: Shipped


 

License Options:


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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Medical Affairs leaders are still grappling with how best to leverage artificial intelligence (AI) technologies for maximum impact. But while the advancement of AI presents many opportunities for Medical Affairs to enhance its strategic value, the current use of AI is still in its nascent stages.


In this critical benchmarking study, Best Practices, LLC has examined both current applications of AI within Medical Affairs today, and also innovative uses which drive AI strategy over the course of next 3 years. This report explores a litany of key AI strategy and operational components, including business opportunities for Medical Affairs, working with consultancies and/or software vendors, measuring success, navigating regulations, structuring, staffing, and innovative opportunities for Medical Affairs using artificial intelligence.

Medical Affairs leaders can use to this benchmarks and insights in this report to understand the current landscape, identify gaps and opportunities, and accelerate the adoption of AI within their organizations.


Industries Profiled:
Technology; Medical Device; Biopharmaceutical; Consulting; Health Care; Pharmaceutical; Consumer Products


Companies Profiled:
Atomo; Baxter International; ECT Technologies; Eisai; FERMA.AI; Huma.AI; NextGen Healthcare; Novartis; Sorcero; Takeda Pharmaceuticals; ZoomRx

Study Snapshot

Best Practices, LLC conducted 11 deep-diving interviews with 4 bio-pharma leaders, 4 software/AI firms, and 3 consulting agencies, supplemented by 2 consultancy published secondary sources.

Key topics covered in this report include:

  • AI Opportunity in Medical
  • Working with Consultancies and/or Software Vendors
  • Evaluating Success
  • Navigating the Regulatory Landscape
  • Structure and Staffing
  • Opportunities Ahead

Key Findings

Select key insights uncovered from this report are noted below. Detailed findings are available in the full report.

  • Three A’s for KPI Formulation: KPIs targeting improvements in consistency, error reduction, and productivity per worker are most likely to add value. The three A’s for KPI formulation are
    1. Aim for: consistency, error reduction, and productivity per worker
    2. Assess Value-added to the Firm
    3. Ascertain KPI Targets

  • Regulatory: Close relationships with compliance bridge better business understanding to mitigate nonregulatory AI risks. Data privacy varies country to country and necessary to adhere to strict compliance within the regulatory landscape.

Table of Contents

Sr. No.
Topic
Slide No.
I.
Executive SummaryPg. 3
II.
Business OpportunityPg. 7
III.
Opportunity EngagementPg. 11
IV.
Measuring SuccessPg. 21
V.
Regulatory EnvironmentPg. 24
VI.
Building Staff and StructurePg. 28
VII.
Opportunities AheadPg. 36
VIII.
About Best Practices, LLCPg. 40

    List of Charts & Exhibits

    I. Business Opportunity

    • Setting the AI mandate
    • Using AI to capitalize Medical Affairs’ strategic value
    • Ethical transparency in the use of artificial intelligence

    II. Opportunity Engagement

    • Factors influencing pharma decision to work with a consultancy and/or a software vendor
    • Project need success story
    • What pharma looks for in a consulting company
    • Pharma success story around the use of consultants
    • What pharma looks for in a software firm
    • Pharma success story around the use of software firms
    • Why and when consultancies build internal software capabilities or acquire software firms
    • Payment models
    • Success story around payment methods

    III. Measuring Success

    • Boosting productivity and output in Medical use of AI
    • Three A’s for KPI formulation

    IV. Regulatory Environment

    • Compliance partnership best practices
    • Maintaining strict compliance with requirements that vary from region to region and country to country
    • Regulatory and data privacy

    V. Building Staff and Structure

    • Consultancy staffing model
    • Core team: Fundamental to success
    • Core team: Filling leadership ranks
    • Core team: Expanding analytic team
    • Collaboration to get powerful insights
    • Collaboration to fill in Medical Affairs’ gaps
    • Offshoring

    VI. Opportunities Ahead

    • Artificial intelligence as a means to improve insights
    • Creation of new roles and processes as AI permeates Medical Affairs
    • AI research trends impacting Medical Affairs use of AI tools