The effective ongoing incorporation of Artificial Intelligence (AI) has emerged as a pivotal force within the pharmaceutical sector, reshaping the traditional paradigms of drug discovery, development, and commercialization. However, it’s also charting new waters for consultancies supporting the sector.
How do AI and strategy consultants fit together?
The winds of change are undeniably shaping how consultants approach their craft, with AI seamlessly starting to complement their skill sets—evolving and enhancing an unchanged objective to support informed decision-making for clients. As AI becomes an established part of the toolbox of consultants, the importance of intellectual curiosity and emotional intelligence (EQ) rises to ensure appropriate guidance can be provided to clients.
As sector experts, consultants often have an insatiable intellectual curiosity by nature. In a paradigm where rigid, process-oriented teams risk losing touch with the intricate concepts at play, intellectual curiosity sets the best apart. Likewise, emotional intelligence, which is human-to-human interaction, will also become the touchstone of the profession in an environment where AI is a significant contributor. The impact and benefit provided can only be optimized when both AI and humans are thoughtful, curious, and well trained. While AI serves as a formidable brainstorming and analytical partner, its true value comes through when coupled with human curiosity when the challenges that can be navigated are nearly limitless.
This value chain of consulting combines seasoned consultants’ expertise with AI’s capabilities— moving to a strategic approach to develop algorithms and validation. An example could be evaluating algorithms for specific diseases and offering a structured framework for optimal patient outcomes. The validation process and addressing the biases can help illuminate the path from data to an actionable decision framework. This synergy ensures unwavering accuracy in shaping solutions for clients in a world inundated with information.
The biggest AI challenges met by consultants
The questions reverberating through corridors revolve around the ‘how’, ‘what’, and ‘when’ of AI. How do we leverage AI to identify rare disease patients? The power of AI has started to revolutionize the landscape. The challenge lies not just in selecting a tool or algorithm but in discerning which one aligns most seamlessly with treatment paradigms and patient needs. This challenge has become increasingly prevalent, especially in the context of clinical trial recruitment and earlier patient identification.
Detecting the right AI tool holds the potential to accelerate clinical trials, ushering products to market with unprecedented speed that can offer patients better outcomes.
What strategies can be employed to build robust bridges for data? In a multifaceted industry, where data flows from diverse sources—from advisory boards and expert consultations to physician interactions—building bridges across this information mosaic poses a formidable challenge. The unique capability of AI to synthesize vast volumes of information ensures that insights are comprehensive and consistent, transcending the variability that human interpretation may introduce. Human training and iteration, by individuals that understand the nuances of the disease state, are then used to further optimize results
