Benefits of a ‘good tech’ AI approach in life sciences

With the pressure on life sciences companies to bring new pharmaceutical products and new medical devices into market with speed, the attraction of AI and other automation processes can be irresistible. But smart adoption of AI rests on strategically integrating it into existing processes governing regulatory approvals, administration, data processing, and workforce management.

What that entails often involves an increased emphasis simplifying processes and capturing efficiencies. These have always been worthwhile goals for the sector, but the development of new AI tools simultaneously increases the need to simplify processes (ahead of automation) and creates new opportunities to find efficiencies.

Grant Thornton Life Sciences National Managing Partner Zara Muradali recently discussed various aspects of life sciences integration of AI with Brian Johnson, President of MassMEDIC President Brian Johnson, AI Ethicist Mat Sample of the Institute of Experiential AI, and Modi Ventures General Partner Sahir Ali.

In this excerpt from an hour-long discussion on our webcast, Muradali introduces the issue of bringing company leadership together to make decisions on AI implementation. Sample discusses how the quickly changing nature of regulatory compliance means that C-suite members must have a method of keeping their eye on developments. He suggests that life sciences companies can anticipate regulatory changes by focusing on fundamental questions of good technology design: Develop technology with specific purpose and a specific benefit, then outline the costs and impact.