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15 Remarkable Applications & Examples of AI in Business
Heard the buzz about the many benefits of AI, but curious about how it actually delivers? Here are 15 remarkable applications of how companies used AI to transform their business.
Life Sciences
Make the best use of data to improve customers’ lives and also establish and maintain market leadership.
Helping life sciences get the most out of useful data
With AI and machine learning, life sciences companies are empowered to make use of all the data available to them – from research to clinical trials, the production line and customers themselves. RapidMiner’s leading data science platform helps life sciences organizations around the world improve their customers’ lives, and establish and maintain market leadership.
Life Sciences Industry Use Cases
Drive Revenue
- Analyze market opportunities for better product portfolio and revenue optimization
- Predict product lifecycles in more detail to manage every stage optimally
Cut Costs
- Use analytics to increase the speed and success rate of clinical trials
- Conduct connected trials, merging data for faster insight & lower cost
- Improve supply chain management, boosting efficiency & reducing costs
Avoid Risks
- Spot signs of adverse effects sooner and take action to minimize effects
- Capture and analyze customer voice to address negative sentiment early
- Monitor product quality and fix issues before widespread impact
Why AI Now?
Just as the life sciences are transforming lives, the industry itself is being transformed. Competition from new start-ups and shifting regulations are creating pressure to conduct R&D and clinical trials faster, but also with more transparency and precision.
The growing levels of investment needed for successful product development and production is reducing room for error and driving a need for more certainty in every step on the path to revenue. At the same time, the growing volume of data available for research and analysis represents incredible opportunity to find new cures and exciting innovations faster than ever.
Data science can better equip life sciences companies to make the best possible use of data.
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Thinking about what digital transformation means for your organization? This study conducted by Forrester Consulting outlines how organizations are achieving success and planning for the future.
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