News
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Sep-23
IDC's 2023 Life Sciences Digital Transformation Survey: Asia/Pacific (Including Japan) Perspectives
| Press Release
Sep-23, IDC's 2023 Life Sciences Digital Transformation Survey: Asia/Pacific (Including Japan) Perspectives
Authors:
Summary
This IDC Survey analysis highlights the key trends in the life sciences (LS) from IDC's 2023 LS Digital Transformation Survey conducted in North America and Asia/Pacific to understand the current status of digital transformation initiatives in LS organizations today. This report focuses on the 41 LS organizations from Asia/Pacific out of 250 respondents.
The goal of the survey is to understand how digital transformation is impacting the LS value chain, key use cases with maximum ROI, industry building versus buying, and LS organizations' technology adoption maturity curve.
This presentation looks at investments in specific technologies to scale digital transformation, current challenges organizations are facing, and the current adoption rate of generative AI among LS organizations.
"LS in Asia/Pacific is moving toward innovation, with over three quarters of the respondents undergoing digital transformation. Although they prioritize decentralized clinical trials and faster drug design, generative AI has opened a new phase of accelerated innovation that organizations will leverage for new capabilities, including developing precision drugs, augmenting workflow efficiency, and enhancing patient experience. Moving forward, there will be an increased focus on cybersecurity measures and key performance indicator (KPI)–based partnership ecosystems to keep the digital transformation system strong and running," says Manoj Vallikkat, senior research manager, IDC Asia/Pacific Health Insights.
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Sep-23
IDC MarketScape: Worldwide Life Science R&D RWE, RWD, Platforms, Technologies, and Consulting Services 2023 Vendor Assessment
| Press Release
Sep-23, IDC MarketScape: Worldwide Life Science R&D RWE, RWD, Platforms, Technologies, and Consulting Services 2023 Vendor Assessment
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Summary
This IDC Health Insights study has a specific focus on real-world evidence, real-world data, platforms, technologies, and consulting services in the life science industry. This document is a qualitative and quantitative assessment based on criteria that should be important to life science companies when considering the selection of an RWD/RWE technology solution provider. This is the first time that an IDC MarketScape assessment on this topic in life sciences has been performed.
"The pharma industry is aggressively building modernized data estates of complex diverse data sets, leveraging technologies for the ingestion, integration, transformation, and tokenization of the same, to cull out extremely valuable insights that will shorten development timelines, scale the probability of technical and regulatory success, and improve clinical outcomes. Data is indeed the new gold, and data magnates are ruling this industry," said Dr. Nimita Limaye, research VP, Life Science R&D Strategy and Technology, IDC.
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Sep-23
IDC Market Glance: Healthcare Provider Operational IT Solutions in Europe, 3Q23
| Press Release
Sep-23, IDC Market Glance: Healthcare Provider Operational IT Solutions in Europe, 3Q23
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Summary
This IDC Market Glance highlights healthcare provider operational IT solutions in Europe for 3Q23.
"As healthcare organizations strive for more digitalization, they face obstacles in transitioning to new care models based on personalization and integration of services along the patient journey," said Adriana Allocato, research manager, at IDC Health Insights Europe. "Workforce shortages, inflation, supply chain constraints, reduced budgets, and depleted resources are pushing healthcare organizations to increase their investments in workflow and operational effectiveness solutions to eventually accommodate new processes and address the more competitive requirements of an increasingly private healthcare market."
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Sep-23
Digital Transformation Use Case Taxonomy: Top Trends in 2023 for Industries
| Press Release
Sep-23, Digital Transformation Use Case Taxonomy: Top Trends in 2023 for Industries
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Summary
This IDC Market Presentation examines the IDC Digital Transformation Use Case Taxonomy research documents in select industries including value-based health, experiential retail, insurance, telecommunications, and technology-oriented value chains in manufacturing. We highlight the newest digital transformation use cases in these industry-focused taxonomy documents, many of which are bridging the gap to the digital business era at many organizations. Finally, we identify repeated trends across industries, such as intelligence and AI, and offer recommendations for technology suppliers based on this research.
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Sep-23
IDC Health Insights' Knowledge-Based Medicine: Digital Transformation in Life Sciences, 2023
| Press Release
Sep-23, IDC Health Insights' Knowledge-Based Medicine: Digital Transformation in Life Sciences, 2023
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Summary
This IDC Tech Buyer Presentation identifies the digital transformation (DX) use cases associated with life science strategies and provides guidance on how to prioritize them to develop a DX road map.
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Aug-23
The Most Strategic Generative AI Technology Partners for the Life Science and Healthcare Industries
| Press Release
Aug-23, The Most Strategic Generative AI Technology Partners for the Life Science and Healthcare Industries
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Summary
This IDC Survey Spotlight looks at the most strategic generative AI technology partners for the life science and healthcare industries. While the number of technology providers in the generative AI (GenAI) space is exploding, the life science industry has a very clear vision of partnering with public cloud providers, followed by digital infrastructure partners and IT consulting partners. Healthcare has also given some preference to GenAI tool providers and to the start-up ecosystem. In detail:
- The top barriers for the use of GenAI for the life science industry include data security, the trustworthiness of GenAI, and access to quality data. Access to large, domain-specific data sets to train and fine-tune large language models (LLMs) remains an ongoing challenge for the life science industry. Data security also tops the list for the healthcare industry, followed by data privacy, which is not surprising considering that both industries are dealing with highly sensitive patient data.
- What is striking, however, is the fact that the third barrier for the healthcare industry is a simple belief that GenAI is not required. In contrast, this comes last in the list of barriers for the life science industry.
- Life sciences foresees customer engagement, supply chain, and product and software development/design as business areas where GenAI will have the maximum impact in the next 18 months. Customer engagement and product design also ranked highest in the list for healthcare. One sees growing interest in developing intelligent patient summaries to drive personalized conversations with patients, improving the patient experience and outcomes.
- The three GenAI use cases having the maximum promise for both life sciences and healthcare were knowledge management applications, design applications, and code generation applications.
- While close to 30% of the life science industry was investing significantly in GenAI in 2023, only 10% of the healthcare industry was doing so; more than half of both the industries were exploring potential use cases.
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Aug-23
Data Privacy and Security Concerns Are Influencing Healthcare's Generative AI Adoption Pace
| Press Release
Aug-23, Data Privacy and Security Concerns Are Influencing Healthcare's Generative AI Adoption Pace
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Summary
This IDC Survey Spotlight derives data from IDC's 2023 Future Enterprise Resiliency and Spending Survey (FERS), Wave 6, with a focus on healthcare organization's generative AI adoption trends and potential barriers.
"While generative AI remains a hot topic, garnering lively debate on most promising healthcare use cases, the challenges of developing private large language models and the overall data privacy and security concerns, and implementation timelines are proving harder to pin down, which means more emphasis being placed on rollout plans for 2024 and beyond," says Jennifer Eaton, research director, IDC Health Insights.
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Aug-23
IDC's Digital Transformation Use Case Road Map: Value-Based Health, 2023
| Press Release
Aug-23, IDC's Digital Transformation Use Case Road Map: Value-Based Health, 2023
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Summary
This IDC Tech Buyer Presentation provides a road map over three time horizons to prioritize deployment of each of the digital transformation use cases found in IDC's Worldwide Digital Transformation Use Case Taxonomy, 2023: Value-Based Health (IDC #US51044123, August 2023). Every organization should evaluate its own digital transformation strategy against the road map and make adjustments as needed based on regional and organizational circumstances.
"As healthcare organizations continue to modernize infrastructures to support cost-effective, high-quality, and equitable care, investments in AI, machine learning, and emerging generative AI tools are driving the goals of efficiency and automation while necessitating the need for careful use case vetting and strategic road map creation to ensure success." — Lynne Dunbrack, group vice president, IDC Health Insights
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Aug-23
The State of Digital Use Cases in Europe: The Agile Work Digital Lane — Part 2 of 7
| Press Release
Aug-23, The State of Digital Use Cases in Europe: The Agile Work Digital Lane — Part 2 of 7
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Summary
This IDC Market Presentation provides insights into the top 10 fastest-growing European agile work use cases from the IDC Worldwide Digital Transformation Spending Guide — April 2023 (V1 2023). For each use case, this report guides vendors in moving technical conversations with traditional IT contacts to use-case-based conversations with workforce executives (e.g., chief human resource officers, chief talent officers, chief learning officers) and broader line-of-business (LOB) and IT audiences, serving as a reference for sales pitches. The report:
- Highlights workforce personas involved in steering, financing, and influencing use cases and how they should collaborate to ensure the successful implementation of the use case
- Understands workforce-specific and overarching technology as well as architecture requirements
- Provides detailed examples of end users working and implementing each workforce/workplace/workspace-related use case
"European CEOs are still eager to invest in digital and technology solutions to enable a hybrid workplace as well as to attract and retain talents and skills, showing how workforce-related technologies still have high growth potential. On average, the use cases in the agile work lane grow faster than broader digital spending, a market still growing at a double-digit growth rate," said Erica Spinoni, senior research analyst, European Digital Business Practice and Future of Work.
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Aug-23
IDC Innovators: Remote Patient Engagement and Virtual Care Solutions, 2023
| Press Release
Aug-23, IDC Innovators: Remote Patient Engagement and Virtual Care Solutions, 2023
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Summary
This IDC Innovators profiles three emerging vendors: Current Health, Huma and TytoCare. These companies offer to the global healthcare and life sciences ecosystem innovative digital health solutions for remote patient engagement and virtual care to enable patient-centric healthcare delivery models and decentralized clinical trials. IDC Innovators are emerging vendors with revenues more than $100 million that have demonstrated either a groundbreaking business model or an innovative new technology — or both.
"Technology-enabled virtual care solutions have become pivotal at the intersection of healthcare and life sciences to support remote patient monitoring and engagement, driving a transformative shift toward new, patient-centric models of health care delivery and clinical research," said Nino Giguashvili, research manager, IDC Health Insights. "Following the period of exponential surge experienced throughout the COVID-19 pandemic, virtual care has now reached a critical juncture that will shape its future trajectory. The vendors featured in this report exemplify the evolution of business models and value propositions, as they work toward seamlessly integrating, standardizing, and scaling the scope of virtual care within the broader patient journey," said Silvia Piai, research director, IDC Health Insights.
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Aug-23
Intertwined Themes at AHIP 2023 Conference: Data, AI, Trust, and Equity
| Press Release
Aug-23, Intertwined Themes at AHIP 2023 Conference: Data, AI, Trust, and Equity
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Summary
This IDC Market Note provides a summary of the AHIP 2023 conference held in Portland, Oregon.
"It is impossible to divorce data, trust, AI, and equity," says Jeff Rivkin, research director, Payer IT Strategies at IDC Health Insights. "Perhaps that is why the AHIP 2023 panels focused on equity and trust, and then conversations inevitably evolved to data and AI. The AHIP conference has changed its name and faces over the past few years, but the core challenge of payers is still navigating the interconnectedness of it all."
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Aug-23
IDC's Worldwide Digital Transformation Use Case Taxonomy, 2023: Value-Based Health
| Press Release
Aug-23, IDC's Worldwide Digital Transformation Use Case Taxonomy, 2023: Value-Based Health
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Summary
This IDC study discusses how healthcare organizations are on a mission to digitally transform to create a value-based healthcare system, even though they may not use the term digital transformation as extensively as other industries such as retail or financial services do. While the pandemic drove unprecedented adoption of virtual visits and other forms of remote care, the number of use cases powered by a range of artificial intelligence technologies, especially with emerging generative AI capabilities, will continue to grow in 2023 and beyond.
"Building on their investments in cloud, intelligence data management, and connected health technologies to enable care anywhere, healthcare organizations are increasing their investments in AI, machine learning, and emerging generative AI tools to streamline clinical workflows and further refine their plans for reimagining the delivery of care," says Lynne A. Dunbrack, group vice president, IDC Health Insights.
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Aug-23
What and Where Is the Interest in Augmented Reality as a Service in the United States?
| Press Release
Aug-23, What and Where Is the Interest in Augmented Reality as a Service in the United States?
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Summary
This IDC Survey Spotlight looks at the appetite for augmented reality as a service (ARaaS) in the United States. We polled 349 IT decision makers on their interest in ARaaS, and because we also asked them which vertical markets they represented, we were able to look at ARaaS demand by industry (industry defined as a group of similar vertical markets).
"As the market for augmented reality (AR) devices ramps up, so too will the need for ARaaS," says Ramon T. Llamas, research director with IDC's Augmented and Virtual Reality team. "ARaaS draws its roots to device as a service (DaaS) to demonstrate cost savings, IT workload reduction, and streamlined device replacement. Many of the same approaches and benefits can be applied to AR.
"At the same time, different industries are moving at different trajectories, and vendors should be wary of that," adds Llamas. "Manufacturing has long been active in the AR space with multiple use cases and proven value generation, making it the perfect spot to launch ARaaS. Others like wholesale/retail trade/transportation and warehousing may have more specific segments and needs for vendors to focus on. Regardless of which industry and vertical and because this is an emerging market, vendors and companies need to be flexible in their ARaaS approaches."
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Aug-23
Cognizant: Engineering, Transforming, and Modernizing the Enterprise to Meet Strategic Industry and IT Objectives
| Press Release
Aug-23, Cognizant: Engineering, Transforming, and Modernizing the Enterprise to Meet Strategic Industry and IT Objectives
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Summary
This IDC Market Perspective provides IDC's views, learnings, perspectives, and advice after attending Cognizant's Americas Analyst & Advisor Summit 2023 held on May 25, 2023, in New York City and listening to a wide array of speakers ranging from CEO Ravi Kumar who provided a keynote session on Cognizant and its strategy to a series of sessions led by Cognizant executives supported by client presentations.
"Cognizant provided a holistic view of the strategic investments it is leveraging to help engineer, transform, and modernize enterprises in which building solutions is centered on the intersection of industry and technology," says David Tapper, program vice president, Outsourcing and Managed Cloud Services at IDC. "IDC believes that ensuring continued success requires Cognizant to showcase business consulting capabilities with emphasis on providing advanced analytics based on industry requirements, assimilate different digital engineering services capabilities under one business unit and evolve capabilities using an organic and inorganic strategy, focus on building an ecosystem of partnership-led niche innovation hubs, evolve services messaging to align with shifting impressions enterprises have on modernization value, build a more cohesive messaging strategy around its value proposition and road map to establish its presence as a leader in the life sciences space, highlight ability to orchestrate end-to-end capabilities into a cohesive solution, emphasize ability to help enterprises build a new operating model, and implement a business operations center that will focus on monitoring and managing the business aspects and processes of an enterprise."
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Aug-23
Industry Analysis Perspective: European Healthcare, 2023
| Press Release
Aug-23, Industry Analysis Perspective: European Healthcare, 2023
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Summary
This IDC Market Presentation contains an industry analysis perspective that offers foundational insights into the European healthcare sector in 2023 for sales, marketing, and product/channel managers at technology companies. By comprehending the sector's structure, financing, and operations as well as its impact on individual and population health, managers can pinpoint areas in healthcare operations and subverticals in which their technology products and services can make a real difference.
This report delves into key healthcare parameters, funding and governance models, delivery systems, and the driving forces behind ICT spending of major healthcare provider (HCP) organizations in Europe in 2023.
"Tech vendors in the European healthcare sector should tailor sales and marketing strategies to meet the unique needs of each country's healthcare system. Collaboration with local players and a focus on improving patient health outcomes will lead to success," Federico Mayr, research analyst, IDC Health Insights.
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Aug-23
Industry Market Forecast: Asia/Pacific Healthcare 2023
| Press Release
Aug-23, Industry Market Forecast: Asia/Pacific Healthcare 2023
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Summary
This IDC Market Presentation aims to provide technology vendor product managers and those responsible for market/competitive intelligence with an industry overview of IDC spending guide forecast numbers and insights into the regional healthcare market context influencing that for 2023.
This report includes:
- The IDC ICT market forecast for healthcare enterprises in Asia/Pacific
- The IDC market forecast for IT applications for Asia/Pacific healthcare enterprises
- Insights into key drivers and inhibitors that impacted and will impact IT application investment sentiment in the Asia/Pacific healthcare sector
The document also highlights recent initiatives by countries and organizations while providing top-level advice for technology suppliers in pursuing a business strategy that spans across the healthcare value chain.
"The IT investments in the healthcare sector are seeing increased growth across enterprise applications, mainly to strengthen the healthtech ecosystem and increase operational productivity to ensure a seamless care shift from hospitals to patients. It is vital for tech suppliers to support healthcare enterprises to see the future promise and consumer/patient demands to ensure outcome-based IT spend," says Manoj Vallikkat, senior research manager, IDC Asia/Pacific Health Insights.
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Aug-23
Industry Market Forecast: European Healthcare, 2023
| Press Release
Aug-23, Industry Market Forecast: European Healthcare, 2023
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Summary
This IDC Market Presentation provides IDC's Industry Market Forecast for European healthcare. It provides technology vendor product managers and those responsible for market/competitive intelligence with an industry overview of IDC spending guide forecasts numbers as well as insights into the regional healthcare market context influencing that spend for 2023.
This report includes:
- IDC's ICT market forecast for healthcare enterprises in Europe
- IDC's market forecast for IT applications for European healthcare enterprises
- Insights into key drivers and inhibitors that have impacted and will impact IT application investment sentiment in the European healthcare industry
This document also highlights recent initiatives by countries and organizations while providing top-level advice for technology suppliers for pursuing a business strategy that considers the whole healthcare ecosystem.
"As healthcare organizations in Europe face unmet needs, workforce shortages, and budget pressures, ICT spending will continue to rise. Technology suppliers can support these organizations by addressing country-specific challenges, enhancing operational efficiency through AI-driven automation, and ensuring seamless integration for improved health outcomes," said Federico Mayr, research analyst, IDC Health Insights.
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Aug-23
2023 IDC Life Science Industry Supply Chain Survey Findings and Implications
| Press Release
Aug-23, 2023 IDC Life Science Industry Supply Chain Survey Findings and Implications
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Summary
This IDC Survey is designed to provide insight into the supply chain challenges and opportunities companies across the life science industry are facing and their current priorities, the drivers of change in the strategic focus of their supply chains, the impact of the ongoing disruptions, the progression of supply chain transformation, and the use of modern, digital technologies.
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Aug-23
At AHIP — A Tale of Two Farces, Portland, and Price Transparency
| Press Release
Aug-23, At AHIP — A Tale of Two Farces, Portland, and Price Transparency
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Summary
This IDC Market Perspective discusses price transparency at AHIP and in the healthcare industry.
"One year in, the industry should take a pause and reflect on the fiction that is executing. Price transparency has snowballed from a politician's talking point to legislation to regulation to an expensive, ongoing administrative facade," states Jeff Rivkin, research director, IDC Health Insights. "The exchanged data is seriously flawed, and even if the data was good, the vast majority of consumers do not have the time, money, patience, medical literacy, or desire to actually shop for procedures. Similarly, payer-provider contract negotiations based on inaccurate, non-standard product, network, and rate data are an equivalent absurdity."
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Jul-23
Industry Market Trends: Asia/Pacific Healthcare, 2023
| Press Release
Jul-23, Industry Market Trends: Asia/Pacific Healthcare, 2023
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Summary
This IDC Market Presentation provides technology vendors with an overview of key business trends shaping the Asia/Pacific healthcare industry in 2023. It offers a foundation of industry knowledge to help technology vendors develop a compelling narrative that resonates with Asia/Pacific healthcare clients, aligns products and services with healthcare provider organizations' business priorities, and demonstrates how technology implementation contributes toward the achievement of their vision and goals.
"The healthcare sector in Asia/Pacific anchors on certain key trends increasingly driven by emerging technologies. It is essential that healthcare tech vendors must not lose attention in these trends to be key partners in the ecosystem and contribute to the market growth in the right direction," says Manoj Vallikkat, senior research manager, IDC Health Insights.
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Jul-23
The Pulse of IT in the European Healthcare Market: Key Deals and Initiatives, April–June 2023
| Press Release
Jul-23, The Pulse of IT in the European Healthcare Market: Key Deals and Initiatives, April–June 2023
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Summary
This IDC Perspective looks at key developments and news in the European healthcare market in 2Q23.
"In the second quarter of 2023, European healthcare organizations launched major IT initiatives to harness AI's power in healthcare. AI is bringing transformative changes through workflow optimization, improved clinical decision making, and enhanced patient experiences. However, its adoption must be guided by strong data strategies and a purpose-driven approach that emphasizes patient engagement and promotes patient-centric care," said Federico Mayr, research analyst, IDC Health Insights Europe.
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Jul-23
Oracle 4Q23: Positive Performance Continues
| Press Release
Jul-23, Oracle 4Q23: Positive Performance Continues
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This IDC Market Note monitors Oracle's quarterly earnings releases to evaluate the company's progress in several core areas that are central to Oracle's future success. IDC examines Oracle's recent 4Q23 earnings and looks for indications of progress around these key themes: cloud infrastructure, enterprise software, autonomous database, industries, and expansion and deepening of its partner ecosystem, as well as further strengthening of the company's customer success focus and centricity.
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Jul-23
AI in Healthcare: Redefining Explainability in the Context of Generative AI
| Press Release
Jul-23, AI in Healthcare: Redefining Explainability in the Context of Generative AI
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Summary
This IDC Perspective highlights the current landscape and investment trend by Asia/Pacific healthcare organizations in generative AI (GenAI). The report highlights prominent use cases and the potential impact of leveraging GenAI tools in the healthcare sector. As diagnosis and treatment plans by AI-generated tools have significant impacts on patients' lives, the report highlights the need for explainability in healthcare settings.
"GenAI use cases are being adopted across industries. In healthcare, GenAI has the immense potential to address inherent challenges to increase productivity, attain hyper-personalization, and enhance physician/patient experience by leveraging capabilities of large language models (LLMs). It is imperative that healthcare organizations be compliant and ensure explainability while adopting such new wave AI tools," says Manoj Vallikkat, senior research manager, IDC Health Insights, IDC Asia/Pacific.
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Jun-23
IDC Market Glance: Healthcare Provider Clinical IT Solutions in Europe, 2Q23
| Press Release
Jun-23, IDC Market Glance: Healthcare Provider Clinical IT Solutions in Europe, 2Q23
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Summary
This IDC Market Glance highlights the healthcare provider clinical IT solutions for 2Q23. "Healthcare organizations are increasingly recognizing the relevance of greater healthcare data interoperability, seamless integration, and effective data sharing to support primary strategic business priorities such as improved quality care, reduced costs, enhanced care coordination, accurate population health management and better health equity," said Adriana Allocato, research manager, IDC Health Insights. "However, the opportunity and the challenge to capture and standardize health data and make them intelligible and actionable requires a stronger health information technology and a centralized governance strategy that positively impacts the intelligent automation of clinical processes."
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Jun-23
Life Sciences Digital Transformation Survey Including Key Use Cases of Generative AI in the Life Sciences Industry
| Press Release
Jun-23, Life Sciences Digital Transformation Survey Including Key Use Cases of Generative AI in the Life Sciences Industry
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Summary
This IDC Survey presentation is designed to show how digital transformation is having an impact across the life sciences value chain, including the key use cases where the industry is seeing the maximum ROI, where the industry is building versus buying, where organizations lie on the maturity curve, and how hiring plans and investment strategies are evolving.
This presentation looks at investments in specific technologies to scale digital transformation and reviews how much of the life sciences industry is already using Generative AI and which key use cases the industry is prioritizing.
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Jun-23
IDC Innovators: AI for Behavioral Health, 2023
| Press Release
Jun-23, IDC Innovators: AI for Behavioral Health, 2023
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Summary
IDC Innovators are emerging vendors with revenue <$100 million that have demonstrated either a groundbreaking business model or an innovative new technology — or both. This IDC Innovators study profiles four vendors in the AI for behavioral health market: Aiberry, NeuroFlow, RethinkFirst, and Twill (formerly Happify Health). Solutions offered by these companies help improve access to behavioral and mental health resources, which are in short supply, and improve consumer engagement by providing high-touch services via a digital platform.
The behavioral health technology market is highly fragmented with thousands of point solutions, reflecting the wide range of behavioral and mental health issues, including anxiety, depressions, general stress, burnout from the pandemic, and post-traumatic stress disorder. Many companies in this space are start-ups with a mission to address the growing behavioral and mental health issues using technology, such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).
"Technology can address barriers to care by increasing access to online behavioral and mental health resources that helps reduce the perceived stigma associated with needing these services," states Lynne A. Dunbrack, group vice president, Public Sector. "AI technologies accelerate identifying patients most in need of care, power conversational AI chatbots that triage consumers to appropriate resources, and create personalized care plans, all of which engenders more consumer engagement and thus successful patient outcomes."
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Jun-23
Industry Performance Indices: Worldwide Private Healthcare, 2023
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Jun-23, Industry Performance Indices: Worldwide Private Healthcare, 2023
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Summary
This IDC Presentation includes healthcare industry insights based on analysis of the global 500+ healthcare organizations to determine the financial success of digital transformation (DX) efforts.
It focuses exclusively on private healthcare provider (HCP) organizations, defined by the WHO "as organizations that are neither owned nor directly controlled by governments and are involved in provision of health services." It shows a positive correlation between successfully executed DX and improved revenue and profit outcomes.
"A well-coordinated and synergized digital transformation efforts that are transitioning private healthcare organizations to digital care providers are resulting in higher-than-average returns in terms of revenue and profit performance," says Ravikant Sharma, senior research manager at Industry Insights Group in IDC Asia/Pacific.
"In the post-pandemic era, though almost all healthcare organizations had to adopt digital path, organizational success is defined by the strength of DX infrastructure and governance practices. Digital challengers had to face 'cost of inaction' owing to either delay in digital adoption or by having weak DX infrastructure, losing competitive edge against digital champions, in attaining financial gains," says Manoj Vallikkat, senior research manager, IDC Health Insights, Asia/Pacific.
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Jun-23
Healthcare Economic and Tech Spending Outlook for 2023
| Press Release
Jun-23, Healthcare Economic and Tech Spending Outlook for 2023
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Summary
This IDC Survey looks at the challenges that IT healthcare leaders face in 2023 as they develop IT budgeting plans that anticipate potential economic disruptions while maintaining the shift to digital business models. In February and March 2023, IDC connected with IT healthcare leaders around the world to gain early insights into how they are navigating disruptions and prioritizing technology investments.
IDC's Global Technology Thought Leadership group conducts a monthly survey — the Future Enterprise Resiliency and Spending (FERS) Survey — to understand how IT and business leaders in enterprises around the world are assessing risks and addressing cost management for their growing portfolios of technology resources.
This survey of 888 respondents from North America, Asia/Pacific, and Western Europe was conducted in late February and early March 2023 while IT leaders were starting to execute on their 2023 IT investment plans. They reflect the attitudes and expectations as of that moment in time. This survey was conducted in the weeks after the collapse of Silicon Valley Bank (SVB) and other banking difficulties and reflects the preliminary impact those events may have on economic and IT spending outlooks.
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Jun-23
IDC MarketScape: U.S. Health Plan Product/Plan Benefit Configuration Solutions 2023 Vendor Assessment
| Press Release
Jun-23, IDC MarketScape: U.S. Health Plan Product/Plan Benefit Configuration Solutions 2023 Vendor Assessment
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Summary
This IDC study provides an evaluation of five vendors that provide payer solutions for product/plan configuration. The vendors we chose include front-runners in the industry that were chosen for their market share and penetration of their potential growth opportunities.
According to Jeff Rivkin, research director, Payer IT Strategies at IDC Health Insights, "Product/plan configurators are being implemented by payers that want to compete for consumers and groups aggressively with speed to market, flexible product offerings, and expansion to Medicare Advantage and ancillary products. As payers attempt to find new revenue and respond to governmental and competitive pressures, the ability to bring a creative product to market fast and effectively will be a competitive advantage. Those that can't may not survive the onslaught of value-based reimbursement, flexible networks, price competition, and consumer demand."
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Jun-23
IDC PlanScape: Remote Health Monitoring
| Press Release
Jun-23, IDC PlanScape: Remote Health Monitoring
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Summary
This IDC PlanScape describes the important role that remote health monitoring (RHM) can play in transforming the delivery of healthcare services by enabling care anywhere initiatives. The study helps healthcare organizations build a case for deploying remote health monitoring devices and provides a road map for healthcare organizations to follow as they prioritize remote health monitoring use cases.
"Aligned financial incentives are driving the increased deployment of RHM programs by both providers and health plans," states Lynne A. Dunbrack, group vice president, IDC Health Insights. "The shift from fee-for-service healthcare to value-based healthcare, with its focus on improving outcomes and operational efficiencies, continues to drive investment in remote health technologies that span health and wellness tracking and chronic care management for a wide range of chronic conditions."
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Jun-23
What Strategies Are Healthcare Organizations Adopting to Optimize Data Management and Maximize the Value of AI/ML Initiatives?
| Press Release
Jun-23, What Strategies Are Healthcare Organizations Adopting to Optimize Data Management and Maximize the Value of AI/ML Initiatives?
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Summary
This IDC Survey Spotlight investigates the strategic approach adopted by healthcare organizations worldwide to optimize data management and maximize the value of AI/ML initiatives.
The analysis presented in this study is based on a sample of healthcare organizations from wave 3 of IDC's Future Enterprise Resiliency and Spending Survey, conducted in April 2023 across North America, Europe, and Asia/Pacific.
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Jun-23
AI in Medical Imaging: Part I — Revolutionizing the Diagnostic Process
| Press Release
Jun-23, AI in Medical Imaging: Part I — Revolutionizing the Diagnostic Process
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Summary
This IDC Perspective highlights the importance of AI in medical imaging and its benefits and provides recommendations for healthcare providers investing in and adopting AI solutions. In the field of medical imaging, AI technology is advancing rapidly. However, balancing these innovative technologies' benefits with their potential risks is vital. To ensure accurate and reliable results, AI algorithms must undergo rigorous testing and evaluation to minimize errors that could negatively impact patient care. In addition, it is essential to address biases and ensure that training data is representative of all individuals to achieve equitable healthcare. Transparency in AI algorithms and software is crucial to building trust among healthcare professionals and ensuring they understand the decisions made by these intelligent systems. Patient privacy must also be safeguarded through solid security measures. To fully realize the potential of AI in medical imaging while addressing concerns about workforce displacement, it is crucial to navigate the regulatory landscape and foster collaboration between AI and healthcare professionals. By acknowledging these risks and implementing robust strategies to mitigate them, healthcare providers can harness the transformative power of AI in medical imaging while ensuring the highest standards of patient care and safety.
"AI is playing a crucial role in transforming the future of medical practice, particularly in medical imaging. This intersection of medicine and AI is witnessing significant progress and resulting in transformative impact," says Mutaz Shegewi, research director, at IDC Health Insights. "AI in medical imaging is bringing us one step closer to a medical renaissance — where diagnoses become swifter, treatments more personalized, and health outcomes optimized."
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Jun-23
AI in Medical Imaging: Part II — The Vanguard of Frontrunners
| Press Release
Jun-23, AI in Medical Imaging: Part II — The Vanguard of Frontrunners
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Summary
This IDC Perspective serves as a quick resource to learn about vendors competing in the medical imaging AI market. Innovations in AI for medical imaging should strive for more than disruption and buzz by also aiming to integrate the solutions into existing healthcare systems and workflows affordably and seamlessly. By doing so, vendors would be more aligned with the needs and priorities of the healthcare industry. Through collaborative efforts, the transformative potential of AI in medical imaging can be fully realized. Vendors must also always remember that they can play a pivotal role in shaping the future of healthcare by embracing ethical practices, fostering seamless integration, and ensuring that everyone has access to the benefits of AI as the field continues to evolve.
"When it comes to AI in medical imaging, vendors must go beyond developing disruptive algorithms and function as ethical gatekeepers too. They must safeguard privacy, anonymize data, and prevent bias in their tools by ensuring that their algorithms are as diverse in their function as the patients they serve," says Mutaz Shegewi, research director at IDC Health Insights. "Besides upholding the sanctity of healthcare ethics in AI for medical imaging and promoting equitable health outcomes, vendors must also serve as bridge builders by seamlessly integrating their AI solutions into the medical systems, applications, and workflows ecosystem. In other words, innovation must not only be disruptive but also harmonious."
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Jun-23
IDC Market Glance: Value-Based Health Services, 2Q23
| Press Release
Jun-23, IDC Market Glance: Value-Based Health Services, 2Q23
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Summary
This IDC Market Glance provides the segments and subsegments of the value-based health services market. Technology vendors continue to expand their scope of services beyond installation to support clients in the areas of strategy, operations, design, and implementation. "As value-based health continues to mature, the market is likely to see growth in the services market. Furthermore, as healthcare organizations attempt to scale and accelerate value-based health strategies, they must assess the need for vendor partners to aid in development of an organizational infrastructure, governance framework, and overall value-based health enterprise strategy." — Jennifer Eaton, research director at IDC's Value-Based Healthcare Digital Strategies
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Jun-23
Life Science Supply Chain Priorities in 2023
| Press Release
Jun-23, Life Science Supply Chain Priorities in 2023
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Summary
This IDC Survey Spotlight considers short- and medium-term priorities for life science supply chains and related use cases, based on responses in IDC's March 2023 Supply Chain Survey.
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Jun-23
New Era in Medical Devices Cybersecurity: Implications of the FDA's Latest Guidance Document for the Industry
| Press Release
Jun-23, New Era in Medical Devices Cybersecurity: Implications of the FDA's Latest Guidance Document for the Industry
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Summary
This IDC Market Note provides an overview of and insights into the FDA's final guidance document entitled "Cybersecurity in Medical Devices: Refuse to Accept Policy for Cyber Devices Under Section 524B of the FD&C Act," published on March 29, 2023.
"The new cybersecurity standards for medical device acceptance necessitate a paradigm shift in security management strategies for medical device manufacturers seeking to enter the U.S. market. Adopting integrated security-by-design approaches to managing security and building ecosystem-wide trust is imperative in this new era of medical devices cybersecurity." — Research Manager Nino Giguashvili, IDC Health Insights
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Jun-23
Industry Conversation Handbook: Worldwide Healthcare, 2023
| Press Release
Jun-23, Industry Conversation Handbook: Worldwide Healthcare, 2023
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Summary
This IDC Market Presentation provides general and synthetic knowledge to support salespeople of technology vendors when they first approach a buyer. It equips sales professionals with basic information concerning the healthcare industry to contact buyers with confidence. It also provides a toolkit to spark discussions, helping salespeople show preparedness and stimulate interest in technology buyers with significant conversation teasers and examples.
"Mastering the intricacies of the healthcare industry can be daunting, but this handbook can help unravel its complexities. It gives you vital information and conversation starters to engage healthcare buyers successfully," said Federico Mayr, research analyst, IDC Health Insights.
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Jun-23
IDC Survey Spotlight: What Are the Top Criteria for Choosing a Healthcare Cloud Vendor?
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Jun-23, IDC Survey Spotlight: What Are the Top Criteria for Choosing a Healthcare Cloud Vendor?
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Summary
This IDC Survey Spotlight reveals the top criteria for selecting a healthcare cloud vendor. Specifically, criteria for trustworthiness and selection are emphasized in this document, offering valuable information for technology suppliers to improve their practices and strategies. This data helps technology suppliers improve practices and tailor their strategies to better meet their target audience's needs. "The story of healthcare cloud services continues to be one of where trust and innovation must walk hand in hand, under the spotlight of stringent security measures, seamless handling of critical workloads, and future-ready road map visibility," says Mutaz Shegewi, research director, IDC Health Insights. "Technology suppliers need to realize that being chosen by a healthcare organization for their cloud solution is a critical decision, akin to casting the lead in a movie. It can either lead to success or failure."
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Jun-23
Industry Market Trends: Worldwide Healthcare, 2023
| Press Release
Jun-23, Industry Market Trends: Worldwide Healthcare, 2023
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Summary
This IDC Market Presentation provides technology vendors with an overview of key business trends shaping the worldwide healthcare industry in 2023. It offers a foundation of industry knowledge to help technology vendors develop a compelling narrative that resonates with worldwide healthcare clients, aligns products and services with healthcare provider organizations' business priorities, and demonstrates how technology implementation contributes toward the achievement of their vision and goals.
"Healthcare organizations worldwide are experiencing profound transformations, primarily propelled by pressing issues faced by the workforce, consumerism, and emerging technologies, with AI at the forefront. As healthcare organizations concentrate on patient-centric care and on optimizing operational efficiency, it becomes crucial for technology vendors to comprehend prevailing market trends in healthcare," said Manoj Vallikkat, senior research manager, IDC Health Insights.
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Jun-23
IDC PeerScape: Payer Practices to Successfully Implement Product Data Management
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Jun-23, IDC PeerScape: Payer Practices to Successfully Implement Product Data Management
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Summary
This IDC PeerScape provides payer executives with an understanding of the challenges, examples of how other healthcare organizations have tackled the challenges and, finally, guidance for organizations to address these challenges.
"Operationalizing product data management is relatively new to some payers, but payer organizations should look to the successes of their peers to take advantage of lessons learned," says Jeff Rivkin, research director, Payer IT Strategies at IDC.
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Jun-23
IDC Market Glance: Social Determinants of Health (SDOH), 2Q23
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Jun-23, IDC Market Glance: Social Determinants of Health (SDOH), 2Q23
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Summary
This IDC Market Glance identifies the segments and subsegments of technology and services to address social determinants of health (SDOH). The categories include those associated with social determinants of health data as well as technology that enables data collection, integration, and analysis. "With a rise in consumerism overlaying inflationary pressures and workforce challenges, healthcare continues to look to technology to support the quintuple aim of value-based care. Integration of behavioral health and social and human service needs with clinical care are among the strategies emerging to address the challenge of health equity and individualized care for all." — Jennifer Eaton, research director, IDC's Value-Based Healthcare Digital Strategies
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Jun-23
IDC Perspective: Why Is 5G High on Pharma's Radar?
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Jun-23, IDC Perspective: Why Is 5G High on Pharma's Radar?
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Summary
This IDC Perspective examines why the adoption of 5G is growing so rapidly, which are the key use cases for the life science industry, and where the roadblocks lie and provides guidance to technology buyers.
"As 5G technology becomes increasingly pervasive, as patients go remote, and as the adoption of decentralized clinical trials continues to grow, the life science industry will increasingly invest in this technology, not only to deepen patient engagement and retention but also to explore newer terrain, such as telepathology, smart factories, intelligent supply chain, and digital twins. The promise of widely available high-bandwidth, high-reliability edge computing and expansive network capability that 5G has to offer is a game changer for pharma, biotechs, and medical device companies," said Dr. Nimita Limaye, research VP, Life Sciences R&D Strategy and Technology at IDC.
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May-23
Generative AI for the Healthcare Industry: Opportunities, Challenges, Use Cases, and Expectations
| Press Release
May-23, Generative AI for the Healthcare Industry: Opportunities, Challenges, Use Cases, and Expectations
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Summary
This IDC Tech Buyer Presentation explores the opportunities and challenges of generative AI for the healthcare market. It shows how these opposite forces are shaping the way healthcare providers are adopting or planning to invest in this innovative technology. It provides guidance for healthcare organizations on how to embrace generative AI responsibly while pursuing their strategic business priorities.
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May-23
Worldwide Medical Devices Key IT Deals and Initiatives Update, Q1 2023
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May-23, Worldwide Medical Devices Key IT Deals and Initiatives Update, Q1 2023
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Summary
This IDC Perspective provides IDC Health Insights' overview of key IT deals, news, and digital initiatives in the worldwide medical devices market in 1Q23. This is the third in the new quarterly series of reports launched by IDC Health Insights following the expansion of its in-depth research coverage of the global medical devices industry.
"Medical devices organizations worldwide continue to embrace the transformative power of digital technology to enhance their product offerings, improve business performance, and address the needs of patients and customers more comprehensively. Expanding digital capabilities and digitally enabled offerings is viewed as imperative to respond to growing market challenges and thrive in the evolving landscape of value-based healthcare." — Research Manager Nino Giguashvili, IDC Health Insights
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May-23
Oracle 2023 Analyst Summit: The Industry Opportunity
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May-23, Oracle 2023 Analyst Summit: The Industry Opportunity
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Summary
This IDC Perspective highlights our key takeaways and analysis of the recent Oracle Application and Industry Analyst Summit.
"Essentially, the message is that Oracle will provide customers the core system (the "digital fabric" as one executive said), common data model, and best practices, combined with partner-led agile methodologies, ISV, and integration offerings — to the tune of what now is 20k+ services and ISV partners. This shared application, cross-industry ecosystem approach is one we see most large platform providers offering today, whether in an enterprise or industrial environment — because on-demand, rapid access to data, applications, and services is expected by end customers in every industry today to effectively run their businesses," said Jeffrey Hojlo, research vice president, Future of Industry Ecosystems, IDC.
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May-23
Healthcare Turns to Generative AI to Strengthen Knowledge Management, Customer Engagement, and More
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May-23, Healthcare Turns to Generative AI to Strengthen Knowledge Management, Customer Engagement, and More
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Summary
This IDC Survey Spotlight derives data from IDC's 2023 Future Enterprise Resiliency and Spending (FERS) Survey, Wave 2, with a focus on healthcare organization's generative AI adoption and use case strategies.
"Bringing promises to fix a plethora of inefficiencies and create a more streamlined and collaborative environment, generative AI has exploded onto the healthcare scene. With a conservative adoption pace and predominately low-risk use cases representing the current sweet spot for many, healthcare is currently viewing generative AI with controlled optimism. "— Jennifer Eaton, research director, IDC Health Insights
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May-23
IDC Market Glance: Payer Payment Integrity, 2Q23
| Press Release
May-23, IDC Market Glance: Payer Payment Integrity, 2Q23
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Summary
This IDC Market Glance provides a glance at the current makeup of the payer IT payment integrity landscape. It illustrates the vendor landscape and depicts the segments and structure of the market.
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May-23
Industry Market Trends: European Healthcare, 2023
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May-23, Industry Market Trends: European Healthcare, 2023
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Summary
This IDC Market Presentation provides technology vendors with an overview of key business trends shaping the European healthcare industry in 2023. It offers a foundation of industry knowledge to help technology vendors develop a compelling narrative that resonates with European healthcare clients, aligns products and services with healthcare provider organizations' business priorities, and demonstrates how technology implementation contributes toward the achievement of their vision and goals.
"Challenged by labor shortages and limited resources European healthcare provider organizations are leveraging technology to support their professionals. They're also adopting digital-first approaches when introducing new care delivery models to meet patients' needs and preferences on a large scale," said Federico Mayr, research analyst, IDC Health Insights.
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May-23
Why Are Medical Device Companies Moving Applications Across Their Supply Chains to Cloud?
| Press Release
May-23, Why Are Medical Device Companies Moving Applications Across Their Supply Chains to Cloud?
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Summary
This IDC Survey Spotlight analyzes how medical device manufacturers worldwide are leveraging cloud applications across their supply chains and realizing benefits from these deployments.
The analysis presented in this study is based on a sample of medical device manufacturers from IDC's 2023 Global Supply Chain Survey, conducted in March across North America, Europe, and Asia/Pacific.
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May-23
The Future of Trust in Healthcare and Life Sciences
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May-23, The Future of Trust in Healthcare and Life Sciences
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Summary
This IDC Perspective analyzes IDC's Future of Trust Framework and identifies the top priorities for the selection of cloud providers, based on IDC's Trust Perception Index. It predicts the future of trust in the healthcare and the life science industries, the growing importance of zero trust frameworks, and sustainability strategies to build trust.
"The COVID-19 pandemic brought in a renewed focus on sustainability and on diversity, on the need to collaborate to innovate, on the need to collect patient data, but also to give back, on the need to drive 'care anywhere' solutions. For the healthcare and life science industries, trust is everything. Patients trust these industries with their data and with their lives, and these industries need to live up to that. It is not about posturing; it is about establishing the right cyberposture, about executing sustainability strategies, and about implementing the right governance models and building an intelligent and a socially responsible enterprise. This enterprise needs to be built on an ecosystem of trust, based on the foundation of a 'zero trust' policy," said Dr. Nimita Limaye, research VP, Life Sciences R&D Strategy and Technology at IDC.
"Healthcare and life sciences are undergoing a crisis of trust — patients and the public are wary of the security of their patient health information and the ethical use and treatment of that health information. As healthcare organizations move toward and refine their digital solutions for the management of healthcare data, strong security, privacy, compliance, and environmental and social governance approaches are non-optional in the maintenance of patient trust," said Dr. Grace Trinidad, research director, IDC's Future of Trust.
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May-23
Impact of Generative AI on the Healthcare and Life Science Industries
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May-23, Impact of Generative AI on the Healthcare and Life Science Industries
Authors:
Full Document about Impact of Generative AI on the Healthcare and Life Science Industries on IDC.comSummary
This IDC Survey Spotlight examines the impact of generative AI (GAI) on the healthcare and life science (HLS) industries. The life science and healthcare industries are both investing in GAI. This is the beginning of the journey, but as the right use cases get identified, with knowledge management taking the lead, one can expect the deployment of GAI to scale rapidly. As both the industries deal with patients' lives and patient data, it is critical to tread cautiously and ensure that the necessary guardrails are implemented:
- Software development and design has taken the front seat across the HLS industries as the most impacted business for GAI. This is driven by the fact that the industries definitely see the potential of GAI and will invest in building capabilities in GAI.
- A third of the life sciences industry believed that product development and design would be the most impacted business area, while one-fourth prioritized customer engagement. This would be driven by the focus of life sciences on R&D and innovation.
- Customer engagement and marketing, as well as supply chain, were given significantly higher priority by the healthcare industry.
- This survey has demonstrated that there is a clear interest in the use of AI in the life science industry, with 35% of the industry already investing in generative AI and one-fourth exploring potential use cases. Yet these are early days with a third of the industry not having taken any action as yet in this regard. A fairly similar distribution is seen in the case of the healthcare industry as well.
- Notably, the most promising use case for GAI across HLS was knowledge management. This was closely followed by code generation applications and design applications in the life science industry. However, once again, marketing came second in the case of the healthcare industry, followed by design applications.
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Apr-23
Industry Marketing Handbook: Worldwide Healthcare, 2023
| Press Release
Apr-23, Industry Marketing Handbook: Worldwide Healthcare, 2023
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Summary
This IDC Market Presentation contains our Industry Marketing Handbook, designed to support technology vendors marketers in building their marketing narrative for the healthcare sector. It can be used to tailor messaging to government-specific challenges and to build pertinent stories and campaigns that resonate with prospects and customers.
"Digital adoption has become an organizational priority in the post-COVID-19 world. Healthcare provider (HCP) organizations, to accelerate their patient-centric care approaches, have increased their focus on widening care access, strengthening digital and physical infrastructure, improving clinical data management, and becoming data driven. While these organizations prioritize tech investments in key use cases, it is essential that marketing leaders of tech vendor organizations align their solutions and narratives by analyzing HCPs' business priorities and investment barriers, for a strong and convincing partnership," said Manoj Vallikkat, senior research manager, IDC Health Insights.
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Apr-23
Future of Industry Ecosystems — Life Sciences
| Press Release
Apr-23, Future of Industry Ecosystems — Life Sciences
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Summary
This IDC Survey highlights the key findings of IDC's Future of Industry Ecosystems Survey. In May and June 2022, we fielded our second annual global survey to 1,270 executives across 5 regions and 11 countries. The goal was to determine executive and business leader sentiment on industry ecosystems, maturity of current approach, and future plans for IT and use case investment. Respondents spanned multiple domains including CXO, business line leadership, and IT management. Key findings from the survey include:
- Mitigating demand fluctuations and supply chain constraint while pursuing environmental sustainability goals is a key joint initiative for industry ecosystem partners.
- Cybersecurity and IP protection are the top barriers to ecosystem participation, making them the top IT investments by ecosystem players.
- The business leadership plays a key role in designing the industry ecosystem in the life science industry compared with the company's executive team playing a decisive role in other industries. Most organizations plan to, as they did last year, expand their industry ecosystems beyond their core industries.
- Data sharing is more prevalent in the life science industry than in most other industries, driven by the need to collaborate to accelerate innovation.
- Service providers will play a key role in the design and enablement of industry ecosystems.
Another key area of focus for organizations when they consider the design and operation of their industry ecosystem is improvement of customer, consumer, citizen, or patient engagement and experience. That is, how does the shared, open approach of industry ecosystems (shared data and insights, shared applications, and shared operations and expertise) better facilitate this?
This IDC survey report on the future of industry ecosystems is focused on the life sciences cut of this survey data. Organizations in this sector recognize the opportunity for ecosystems to support the multiple ongoing challenges and initiatives, such as:
- Empowering constant, collaborative, and open innovation that results in enhanced R&D
- Enabling environmentally sustainable practices within R&D, supply chain, and production, across a varied set of ecosystem participants
- Ensuring trusted, secure collaboration and mutually beneficial business models across the industry ecosystem
IDC's Future of Industry Ecosystems Survey provides a view into how life science organizations are currently and planning to work with their ecosystem partners on these and other initiatives.
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Apr-23
How Medical Device Manufacturers Leverage IoT Across Their Supply Chains
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Apr-23, How Medical Device Manufacturers Leverage IoT Across Their Supply Chains
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Summary
This IDC Survey Spotlight analyzes how medical device producers, worldwide, are leveraging the Internet of Things (IoT) across their supply chains and realizing benefits from IoT deployments.
The analysis presented in this study is based on a sample of medical device manufacturers from IDC’s Global Supply Chain Survey, 2023, conducted in March across North America, Europe, and Asia-Pacific.
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Apr-23
NVIDIA GTC 2023: Democratizing AI, Scaling Innovation, and Improving Outcomes Across Healthcare and Life Sciences
| Press Release
Apr-23, NVIDIA GTC 2023: Democratizing AI, Scaling Innovation, and Improving Outcomes Across Healthcare and Life Sciences
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Summary
This IDC Market Note reviews the healthcare and life sciences coverage at the NVIDIA GTC 2023 conference, a virtual event that ran from March 21 to March 23, 2023, and was attended by over 75,000 people. It focuses on the key announcements related to the healthcare and life sciences industries.
"Access to open source, pretrained, and domain-specific large language models, GPU-accelerated computational genomics, AI frameworks that improve imaging workflows, and computing platforms that run AI models real time on the edge have the potential to transform the life science and healthcare industry like never before. We are at an inflection point," said Dr. Nimita Limaye, research vice president, Life Sciences R&D Strategy and Technology at IDC.