| Summary: | Generative artificial intelligence (AI) has emerged as a prominent topic of discussion, fueled by the proliferation of innovative platforms such as ChatGPT and Dali, which have captured the imagination of both individuals and businesses alike. With industry forecasts predicting significant revenue growth attributed to generative AI applications across various sectors, executives in the C-suite are increasingly recognizing its potential to unlock new opportunities in business.
Despite the widespread adoption of AI in drug discovery and development processes within the biopharmaceutical sector, its utilization in enhancing commercial activities remains limited. This study seeks to investigate the transformative potential of generative AI in reshaping commercial operations within the biopharmaceutical industry in Singapore, while also identifying associated challenges and strategies to overcome them for successful AI implementation.
Conducted through qualitative methods, this research involved semi-structured interviews with nine participants from the biopharmaceutical sector. The findings reveal that the integration of AI into commercial activities, particularly in customer engagement, is still in its infancy among biopharmaceutical companies in Singapore. Numerous challenges must be addressed, and organization-wide initiatives are required to prepare the industry to leverage AI effectively for business advancement.
In conclusion, this study underscores the importance of exploring and addressing the challenges associated with AI implementation in the biopharmaceutical industry. By overcoming these hurdles and fostering a culture of AI adoption, organizations can harness the transformative power of generative AI to drive innovation, enhance customer engagement, and unlock new avenues for business growth in the dynamic landscape of the biopharmaceutical sector in Singapore.
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