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The pharmaceutical industry is facing a pivotal time in the evolution of clinical research and trials. Emerging technologies with unprecedented potential are improving trial efficiency, safety, and accuracy. Improved methods of data collection and handling are at the forefront of these developments, leading to better procedures and enhanced outcomes.
Real-time data makes a huge difference. The large volume of scientific and medical data today is doubling at a faster rate than ever before, so analyzing this data in real-time is crucial to gaining knowledge and deriving value. The better the insights the more informed and successful are the decisions.
Miscalculations can result in heavy losses especially in drug development. Leveraging AI-enabled tools can reduce risk. AI technologies can ensure that the data generated from clinical trials and research is utilized optimally. Through the creation of a central repository, data from new studies, literature, events or news around a particular indication or intervention can be captured for analysis and insight generation, which is crucial to successful development.
Technology, particularly AI, is transforming how the industry researches and develops new interventions, reduces costs and improves patient outcomes. AI is also creating a new normal where every stakeholder is always informed in almost real-time, acting faster on insights and results, leading to efficient development and investment opportunities.
The value of tracking research as well as trials in real time could impact the quality of data being generated, decisions taken, and rate of successful developments in the coming years.