A recent CIO Survey proves it’s time for CIOs to grab the reins and become disruptive innovators, leaders who are willing to take a few calculated risks to integrate next-generation technologies into their organizational infrastructure. As such, CIOs are plowing substantial portions of their IT spending into potentially game-changing technologies. For example, 61 percent of the respondents worldwide report that they’re investing heavily in application modernization and 64 percent say they’re investing heavily in big data. Even the Internet of Things is earning budget dollars for 49 percent of the global survey respondents.
IT leaders within the life sciences sector have always been known for their ability and willingness to innovate. These companies often serve as early adopters, so it’s not surprising that all of the next-generation technologies are receiving much of their attention.
Some technologies, such as 3-D printing, may not fit as naturally as others, such as the cloud or big data. Regulatory information management is a prime example of an ongoing operation within the pharmaceutical industry that has become heavily reliant on the cloud. Adding cloud capabilities to the mix brings a new level of efficient processing to improve timeliness and new storage options to eliminate costly redundancies. The only question is whether the organization prefers a private or hybrid configuration. There are similar examples when considering big data. For instance, advanced big data analytics are actually fueling the move toward genetic and genomic medicine.
It’s important to note, though, that these are not separate technologies—especially in life sciences. Rather, they are heavily integrated into key operating components. Consider, for instance, the use of the latest tracking technologies that pharma organizations are embracing for supply chain management. Today’s approach leverages big data stored in the cloud through modernized GPS-enabled mobile applications and a host of next-gen sensors to quickly recognize potential issues and new business opportunities. Organizations need to stay ahead of the curve or risk losing out to today’s growing number of truly digital enterprises within the market.