A: DISRUPTIVE INNOVATION, SUCH AS AI AND MACHINE LEARNING, can revolutionize drug discovery, development, and manufacture in the pharma industry. They’re coming fast, and those who are unable to adapt will be left behind. Maintaining awareness of innovation opportunities is critical; one approach is to encourage participation in precompetitive collaborations with partners or academic forums that are exploring novel technologies. Senior leaders need to model behaviors that embrace innovation and create a culture that leverages technology solutions that can translate to real value. This can be catalyzed by organizing small teams to screen innovation opportunities before implementing the best more broadly. When supported in the organization, teams will identify innovative ideas, optimize, and execute for the company’s benefit. The successful companies in 5 to 10 years will be those that implement value-creating innovations now.
CHHAYA SHAH, SVP of tech ops at Radius Health, and Matt Burke, head of pharmaceutical sciences at Radius Health, collaborated on providing this answer.