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AI now a must for Big Pharma, says report

[ November 27, 2024   //   ]

Artificial Intelligence and machine learning are shifting from being a ‘nice to have’ to a strategic necessity for the industry, according to a new report commissioned by the LogiPharma group.

The 2024 LogiPharma AI Report, based on a survey of 100 European life sciences supply chain leaders, said that AI is rapidly becoming a central component in driving efficiency, resilience and operational excellence across pharmaceutical supply chains. Over half of respondents expect a return on investment from AI and ML initiatives within two to three years.

AI is playing a pivotal role in optimising inventory management, particularly for temperature-sensitive products like biologics and vaccines and 69% of pharmaceutical companies have implemented AI-driven automated alerts to monitor cold chain logistics in real time.

However, data integration remains a significant hurdle, as many companies struggle with real-time visibility across fragmented systems and partner networks. Under 25% of supply chain partners are currently using AI-driven processes, indicating that while the benefits of an interconnected, AI-enabled system are evident, broader adoption is needed for full impact.

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