succeed in the digital age. Many
companies are recruiting outside of the life sciences sector for
digital expertise. Currently, only
20 percent of companies feel they
have matured in their journey to
becoming a digital enterprise. See
To advance digital transformation
in 2019, life sciences companies
should start with determining
and articulating their ambition.
This means prioritizing initiatives,
anchoring decisions, and focusing
on the future. Leaders can then be
poised for adapting new operating models, transforming work
culture, implementing technology,
and scaling solutions.
A greater percentage of digitally-maturing biopharma companies
are exploiting new ways of doing
business as opposed to exploiting
organizational competencies. Collaboration is seen as a key differentiator. Leaders should not only
encourage collaboration internally
across functions, but also externally. They also need to provide a
clear vision and purpose for their
organization’s digital investments
and empower people to think differently.
The future of work requires a fresh
perspective and the sector is be-
ginning to embrace new recruits,
like chief digital officers (CDOs),
coming from outside the life sci-
ences sector. In addition to having
a digital-first attitude, outsiders
will increasingly be sources of
expertise for advanced data ana-
lytics and machine learning. The
increased use of advanced technol-
ogies does not mean human effort
will be replaced, rather, it will be
leveraged for high level tasks so
that efficiencies can be optimized
and adversaries are eliminated. See
To maximize the potential value of
advanced technologies today and
minimize the potential adverse impacts on the workforce tomorrow,
organizations should put humans
in the loop—reconstructing work,
retraining people, and rearranging
the organization. Companies can
create incubator spaces in innovation clusters around the globe,
specifically designed to support
early-stage companies that need
facilities, mentoring, and networking to progress. •
More than 3/4 of biopharma companies agree that their organizations
need new leaders to succeed in the digital age.
Many companies are recruiting outside of life sciences for digital expertise.
Currently, only 20 percent of companies feel they have matured in their
journey to becoming a digital enterprise.
Advancing digital transformation in life sciences
Life sciences companies should start with determining and articulating their
ambition—prioritizing initiatives, anchoring decisions, and focusing on the future.
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