“The technologies like AI, Machine Learning, Big Data, etc. have impacted the industries big time. AI is the marching force for digital transformation and data is the fulcrum of the digital transformation lever. Artificial Intelligence, Machine Learning, Cognitive Learning that entails your big data/ smart analytics along with cloud computing and IoT are driving the new age digital transformation”, said Atul Rastogi, VP & Head IT, APCER Life Sciences.
Out of the world’s population of 8 billion people, almost 14 billion use mobile devices, and more than one billion people use wearables. Medical devices also have inbuilt sensors. It is all due to digital transformation. If we look at Amazon’s Alexa or Google assistance, all of these are very good examples of Artificial Intelligence. They don’t exactly mimic a human being but they do what they are told to do. We need to understand that AI and its churning of data is no more a privilege of the organisation instead it is a necessity now”, Atul said, expressing her viewpoint on AI use in the industry.
While talking of AI use in the pharma industry Atul mentioned, “Talking from the perspective of pharma industry, the reasons are many that are challenging the industry to adapt technology, one is a service provider and the other part is the customer. Pharmacy is all about knowing or learning drug advocacy, diagnosing a case and verifying the right drug. AI-powered systems and cognitive computing are changing the pharma industry used to work.”
“We are using AI to perform a molecular composition of chemicals, people are connecting with peers through various applications. In fact, detecting the symptoms of a disease and the cures can also be embraced through AI and Big data. Technology is no longer a cylinder, its no longer a silo, it is now integrated with the business and organisations and paving the roadmap ahead for all”, he concluded.
Digitalisation, Big Data, and Artificial Intelligence has transformed the pharmaceutical industry. From understanding diseases, diagnosis, and manufacturing medicines to clinical trials, it has provided a great helping hand to pharma companies.
With the growing technology penetration in the industry, what are the trends and innovations taking place in the Indian pharmaceutical industry?
We can’t deny the fact that covid has opened up new opportunities and innovations, taking place in the Indian pharmaceutical industry. In meeting the challenges faced by covid, the pharma industry started various trends and innovations regularly which helped them gather pace in the future. It was seen that many Indian firms came up with different COVID-19 vaccines under the national Covid-19 immunisation program and once it was approved, vaccines were not only given to Indian people but also exported to different countries which contributed to the economy of the country, hence boosting Indian Pharmaceutical industry. The biggest change that the pharma industry saw was everything going online, from consultations to ordering medicines. Everyone was worried about their safety and therefore opted for online options rather than being physically present at the store or in the hospital. This eventually led to having teleconsultations as an option post-covid as well. This practice was also supported by the government by providing the necessary push required. Artificial Intelligence and Machine Learning gave a shift to the innovation pattern of the pharma sectors. The Pharma industry around the world has started using AI tools and advanced machine learning rules to facilitate their process. This led to the creation of more affordable drugs and reduced operational costs.
What are the factors driving the growth of the Indian pharma industry?
The Covid-19 pandemic caused various problems for people around the globe. Despite it hitting hard, the pharma sectors turned the crisis into an opportunity. The demand for vaccines along with saving the lives of people became strong, and this led to various innovations in the pharma sector and India became the largest provider of medicines across the world at the most affordable prices. This eventually helped in boosting the Indian pharma sector. The world has started looking up to India for affordable and best-quality medicines. The government also played a very important role in the growth of the Indian pharma industry. It provided all the necessary push required for boosting the production of medicines. India has become one the largest producers of low-cost drugs without compromising on the quality of the medicines.
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