AI Articles and Analysis about Business intelligence and analytics

Business leaders in pharma and life sciences have more specific business intelligence needs than peers in other industries. In addition to common business drivers like marketing, profit and loss, and customer churn, pharmaceutical companies need information regarding patients and clinical trial results.

McKinsey estimated that embarking on digital transformation to restructure value chains and drive R&D innovation across the pharmaceutical industry could be worth $50–150 billion of earnings before interest, taxes, depreciation, and amortization. In particular, machine learning is likely to continue finding a place in the pharmaceutical industry. Pharmaceutical companies have found applications for machine learning ranging from drug discovery to clinical trial retention.
The State of AI in the Asian Pharmaceutical Industry
AI seems to be making its way into the pharmaceutical space in Asia over the last two or three years, particularly in China and Japan. For the most part, the companies offering or using AI for drug discovery are just starting to acquire funding and talent. XtalPi seems to have the highest density of talent with a decent likelihood of being able to work with machine learning.

There are few companies claiming to offer artificial intelligence solutions to orthopedics companies. We found that these solutions are intended to help orthopedics companies with at least one of the following business problems:

Sensors and mobile devices are in many ways working with AI software for business intelligence purposes in a few industries, including insurance and oil and gas. In the healthcare space, mobile devices and wearables allow patients to receive information on possible diagnoses for their symptoms and to monitor metrics such as their heart rate.

There are several companies claiming to offer AI solutions to banks and financial institutions. We found that these solutions are intended to help banking and finance companies with at least one of the following business problems:

Lockheed Martin offers numerous artificial intelligence solutions to the US military. The company claims to help military operators effectively complete both routine and critical missions with less risk of endangering the lives of military operators. In 2017, Lockheed Martin reported $51 billion in revenue, $35.2 billion reported from contracts with the US Government. This makes Lockheed Martin the largest contractor for the US military and the largest defense contractor in the world.

According to a 2017 report by the Financial Stability Board, artificial intelligence (AI) and machine learning firms managed assets of over $10 billion in 2017, with further growth projected in the next five years. The reasons for this are clear; AI can now present wealth managers with new capabilities to enhance and further personalize their services, at scale.

In their recent Worldwide Spending on Cognitive and Artificial Intelligence Systems report, IDC estimated that banking investments in cognitive and AI systems in 2018 might total around $4.0 billion. Many AI vendors claim to offer software for numerous finance use cases, such as credit scoring, insurance underwriting, debt collection, fraud detection, and more recently, financial regulations, or so-called regtech.