Every industry has its demons. But today’s developing environment — coined the Fourth Industrial Revolution and characterized by rapidly evolving and disruptive advances in technology — has created a new and intimidating landscape. According to the World Economic Forum, this current revolution is “reshaping industries, blurring geographical boundaries, challenging existing regulatory frameworks, and even redefining what it means to be human.”¹ In this new world, tools such as automation, IIoT, cloud-computing and data analytics offer all industries the potential for digital transformation — if they can properly understand and implement them.
Pharmaceutical Manufacturing’s second annual Smart Pharma survey separately asked drug manufacturers and equipment and services vendors* their thoughts on the pharma industry’s digital transformation progress.
Close analysis of the survey results confirms a lot of what we already know: The pharmaceutical industry has seen great advances in transformative technology, and it’s becoming increasingly evident that if properly harnessed, many of these innovations can give manufacturers an edge. But recent survey results closely mirror the responses from last year — and the concern is that this could mean progress is stalling.