pillars of the fourth industrial revolution

Now we have the fourth Industrial Revolution, merging the cyber and physical worlds. 1. By leveraging, and carefully institutionalizing all the data and technology at their disposal, pharma companies can rise to this occasion and leap forward for commercial and sustainable success. The analysis performed on such data-sets helps pharma companies to discover and create new drugs, HCPs to identify disease and therapy trends, and patients to benefit from better treatment outcomes at reduced overall costs. As integrated, centrally available data lakes open doors for cross-functional analyses, collective decision-making towards common goals can never be emphasized enough. https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/, https://healthitanalytics.com/news/big-data-to-see-explosive-growth-challenging-healthcare-organizations, https://www.pwc.com/gx/en/consumer-markets/consumer-insights-survey/2019/report.pdf, https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Life-Sciences-Health-Care/gx-lshc-2017-pharmaceutical-rd-leader-survey.pdf, https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Life-Sciences-Health-Care/gx-lshc-ls-outlook-2018.pdf, https://www.biospace.com/article/biotech-companies-investing-in-key-technologies-for-the-fourth-industrial-revolution/, Health Economics & Outcomes Research (HEOR), track the complete patient treatment journey, self-serve AI-ML-based data management and analytics platforms, next-generation cloud-based AI-ML platforms, https://www.nitrd.gov/rfi/ai/2018/AI-RFI-Response-2018-James-Madara-AMA.pdf, https://scipol.org/track/augmented-intelligence-health-care-white-paper/augmented-intelligence-health-care-white-paper, Top Three Opportunities For Medical Device Sales Operations, Top Life Sciences AI Content for the Self-Quarantined Geek, A Roadmap for Establishing and Maturing Omnichannel Marketing Within Life Sciences, The Fourth Industrial Revolution: what it means, how to respond -, Big Data to See Explosive Growth, Challenging Healthcare Organizations -, PWC’s Global Consumer Insights Survey 2019 -, Deloitte’s Big Data to See Explosive Growth, Challenging Healthcare Organizations -, Deloitte’s 2018 Global life sciences outlook -, Biotech Companies Investing in Key Technologies for the Fourth Industrial Revolution -, Update to the 2016 National Artificial Intelligence Research and Development Strategic Plan RFI Responses -, Augmented Intelligence in Health Care (White Paper) -. To operationalize our informed decisions, Internet of Things (IoT) and its connected experience step in to deliver instantaneous desired results. The common theme among all of these pillars and new technologies is data collection and analysis. Sales force effectiveness. Insightful perspective. In addition, Industry 4.0 is also called the fourth industrial revolution, which is based on the “Internet of things and services” after mechanisation (Industry 1.0), … When constructive inputs from one team flow into the decision-making process of the next team, winning synergies are born, which lead companies on the path of ground-breaking success and sustainability. The third industri… A recent survey confirms that more than 60 percent of life sciences leaders said that having a scalable environment was “most important.”4 Analytics industrialization simply means to automate the entire analytics project lifecycle on a single platform, which can be operated at a beginner skill level, with speed and accuracy. … Click here to learn about Axtria SalesIQTM - End-to-end sales planning and operations platform. Without the pre-requisites of advanced technical skill sets, these analytics platforms can be convenient for enterprise-level efficiency, agility, accuracy, and scale, especially when they are augmented with healthcare and life sciences expertise-based business rules, modules and workflows. By marrying intelligently automated technology with expert human knowledge and consultation, pharma companies can very much embrace the fourth industrial revolution towards sustainable competitive advantage and patient welfare. As connectivity increases, the risk of a potential cyberattack grows alongside it. Our strong view is that as a nation we must create the jobs of the future. These models can be used to run more efficient tests so settings and processes are optimized before production even starts, reducing downtime and improving quality. The healthcare ecosystem is faced with overwhelming transformative pressure, arising from the fourth industrial revolution, coupled with patient-centric expectations and regulatory demands. With its storm of big data and digital technology, the fourth industrial revolution is paving the way for significant transformations across all industries, and more specifically in healthcare and life sciences. When you think of IoT, devices such as smartphones, tablets, and laptops are usually top of mind. With data integration, synergistic collaboration amongst the various functional teams across the enterprise is crucial. Any security breach could damage multiple areas of the business, from supply chain to operations. This will result in an agile manufacturing environment allowing real time production corrections and quick pivots. Collaborative robots are designed to fill the gaps between traditional robots and human workers and open up new areas for automation. These insights can then be used for creating effective medical and commercial operational strategies. More autonomous, flexible and cooperative While the manufacturing industry has made great strides when it comes to automation over the last few years, there is still a lot of untapped opportunity. The second industrial revolution came in the early 20th century, when Henry Ford mastered the moving assembly line and ushered in the age of mass production. 2. The 4th Industrial Revolution will change the kinds of jobs needed in industry. Large data sets to optimise quality, save energy, improve equipment service Many cite the third revolution as beginning in the 1970s, Data is to healthcare what carbon is to the universe. However, amidst a raging techno-fetish that has seized the interest of both the public and private sectors, it is necessary to … Rid your binge-watching boredom through artificial intelligence and machine learning – a leading cause of the pharmaceutical industry's best innovations and advancements. What will push us into the 5th Industrial Revolution? It is the critical difference between systems that enhance and scale human expertise rather than those that attempt to replicate all human intelligence. Indeed, smart technologies are slowly integrating into our daily lives. Such automated platforms can help pharma executives analyze patient-level information to make swift decisions for drug development6, clinical trials6, product launch strategies, commercial operations, and market access. Your email address will not be published. Every company is now a digital company and in order to not only survive but thrive, the need for people with advanced data analysis skills is critical. It’s important for manufacturers to have tools, such as dashboards, to help them clean, organize, and visualize the massive amount of data available. According to the first policy recommendations by the American Medical Association (AMA)8, the development of health care Augmented Intelligence “benefits patients, physicians, and the health care community.” It also lists “clinical decision support, patient monitoring and coaching, automated devices to assist in surgery or patient care, and management of health care systems” as examples of high-quality Augmented Intelligence systems. Connected machines will interact, visualize the production chain, and make decisions automatically and autonomously. Pharma companies need to work towards building an infrastructure to value data integration, encouraging complete, consistent, and accurate data across its lifecycle. Healthcare data is extremely sensitive. The Four Broad Pillars The WEF groups rights into four broad pillars. Data and technology are etching a new DNA of each touchpoint of our lives today. There are a number of different uses for this technology in the manufacturing industry, such as: Simulations leverage real-time data to reflect the physical world of product development and production processes in a virtual environment. The massive technological advancements that have swept across the world today are extremely significant in this context. Data is disruptive, no one can accurately forecast where the next “big idea” will emerge and how it will change our lives. Your email address will not be published. With improved system integration, companies can become more interconnected both externally and internally. Accelerating adoption of Fourth Industrial Revolution technologies: recommendations for business leaders 9 3.1 The value delivery engine – high-impact use cases 10 3.2 The scale-up engine – actionable best practices 16 4. Analytics 2. One Channel CEO, Bernard Ford, exemplifies this by mentioning how “ordering a ca… the fourth industrial revolution: pillars The best way to understand what the Fourth Industrial Revolution really is and what are its benefits, you need to understand better its part. Commercial Operations These robots are designed to work in ways similar to humans, with the added ability to monitor and transmit data. It is worth noting that I4.0 was initially a political and economic measure by the German government to protect its manufacturing base, which accounted for approximately 25% of GDP, in the face of increased globalization and competition. This data explosion is feeding into AI-based quantum computing engines for instant and highly-personalized insights, which help us make better decisions. Copyright © 2020 Axtria. Four Pillars Of The Fourth Industrial Revolution for Life Sciences DATA INTEGRATION. Advanced Analytics This is mainly because of increased automation. Whether you work in the manufacturing industry or not, it is imperative to familiarize yourself with these pillars, as they are expected to have a widespread impact across all industries and society as a whole. Autonomous Robots The Fourth Industrial Revolution and social application platforms herald an innovative new area in SDG localization and sustainability policy. Using the industrial Internet of Things (IoT), manufacturers can connect the physical world with the digital and take complete control over systems as never before. These concepts are the pillars of the fourth industrial revolution called “Industry 4.0” . Data integration helps maximize the value of data by bringing together siloed pockets of data across the enterprise. As professionals, we need to follow suit, by leveraging data and technology to create innovative products, operational efficiencies, stronger customer equity, and higher profit margins. In the next 5-10 years, it’s estimated that productivity will increase by 5-8%. For instance, while designing the overall commercial approach for pharma companies, several teams become parts of an interconnected commercial value-chain – starting from the product launch and go-to-market strategy, to structuring the sales force sizes to be deployed across target territories, to designing individual call plans to achieve maximum customer conversions, to crafting attractive incentive plans to keep the sales reps motivated. Big Data Analytics Analysis needs to scale across all parts of the business from HR, sales, marketing to the manufacturing floor. It consists of de-identified patient-level information, revealing their demographics, health parameters, treatment journey, prescribing healthcare physicians (HCPs), and much more. The Fourth Industrial Revolution is being built on a foundation of a digital revolution that has been underway since the middle of the previous century and is comprised of a combination of technologies resulting from a convergence of physical, digital, and biological paradigms. The 4th industrial revolution in Africa: The next great frontier By Jacques du Preez Analysis in brief: The Fourth Industrial Revolution is now underway and is set to forever change the way in which economies relate to each other in the global market. So much so, that life sciences companies are finding themselves placed right at the core of this revolution, as healthcare data grows faster than that of other industries at 36 percent through 20252. Axtria Cookie Policy & Privacy Statement. As more smart technologies are implemented into manufacturing systems and processes, there is room for enormous potential. Privacy | Terms. Data Integration There are nine main pillars of the Fourth Industrial Revolution, also referred to as Industry 4.0. How Dashboards Are Changing the Face of Modern Manufacturing. Almost everything is transformed today: Food is being ordered online The Fourth Industrial Revolution is ‘characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres’ and people can witness how much these spheres are intertwined today, and how much they affect people’s life. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Augmented Intelligence reflects the enhanced capabilities of human clinical decision making, coupled with computation methods and systems. AI • Defining the fourth industrial revolution • Examining the financial sector’s digital transformation 6 Prioritizing digital transformation and its pillars • Preparing a digital transformation strategy • Focusing on key transformation pillars 10 Overcoming the barriers to digital transformation • … Click here to download our guide to How to Build and Use Dashboards in Manufacturing. In the world of manufacturing, this technology is often referred to as the Industrial Internet of Things (IIoT). Such platforms are equipped with the necessary technology stacks, industry-relevant business rules, and user-friendly interfaces, making advanced analytics self-servable across the enterprise. When you think of IoT, devices such… This new work model focuses on the integrated man-machine approach through “sustainable” production. The Internet of Things refers to the networking and connectivity of smart devices. 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