Protecting the patient’s well-being is a key responsibility for the life sciences industries. Companies must act quickly to evaluate, assess and report adverse events, and identify new and serious safety signals. This process, pharmacovigilance, is heavily dependent on human-beings. With the volume of adverse events increasing annually by 10%; additional channels (such as electronic medical records and social media) to monitor, as well more stringent regulatory requirements, then throwing more and more people at the problem (in-house or by outsourcing) is simply not an option.
In a recent study from the IBM Institute for Business Value over half of life sciences executives that we surveyed said that they plan to adopt cognitive computing for pharmacovigilance within the next 3 years to help with this issue. With timeliness and quality of safety operations as critical as ever, cognitive computing offers new capabilities to add speed, scale and consistency to the entire pharmacovigilance process from adverse event intake, triage, evaluation and reporting, to signal detection and assessment.
To find out more about our study go to ibm.biz/scalingsafety.
Also, to learn more meet IBM Life Sciences experts at DIA 2017, Chicago (June 18-22, 2017). This event will host more than 8,000 professionals in the pharmaceutical, biotechnology, and medical device communities from more than 50 countries around the globe.