Quartic.ai partners with Sparta Systems to bring forward next-level AI capabilities for early risk detection during the manufacturing process
Pharma 4.0 (Digital Tech and Data Analytics)
Cambridge, UK, 19 June 2020 - OKRA, a leading provider of Artificial Intelligence (AI) driven analytics for Life Sciences, today hit an important milestone, delivering 2 million validated predictions so far in 2020, smashing through its yearly target in just half the expected time. This underscores OKRA’s achievements in empowering the pharmaceutical industry with explainable, real-time AI solutions.
There is a great deal of hype and a lot of misconceptions among life science experts as to how AI can or can’t be applied in pharmaceutical research and business. Judging by the rapidly increasing number of AI-involved deals and partnerships tapped by big pharma recently, it becomes obvious that life sciences decision-makers are eager to understand what this new and disruptive technology can bring to the table, and how it can be adopted efficiently with tangible ROI.
In order to get valuable first-hand insight and new ideas about the technology and its emerging role in the life sciences industry, I have asked several questions to Dr. Loubna Bouarfa, Founder and CEO at OKRA Technologies ― a leading AI company for healthcare, which builds a sophisticated AI-driven engine specialized in supporting faster and more accurate decisions for life science executives and field teams. Loubna is also a member of the European Union AI High-Level Expert Group (HLEG) and the winner of several prestigious awards, such as MIT Innovator Under 35 and Forbes Top 50 European Women in Technology. Last year, OKRA was named the Best Female-Led Startup at the StartUp Europe Awards.
Pharmaceutical manufacturers find themselves at a critical juncture. In the past 30 years, pharma has seen some significant shifts. Consider the expanding range of drug therapies, once confined almost exclusively to small molecule drugs. Biologics now comprise a substantial share of the market, and novel treatments such as cell and gene therapies are rapidly gaining traction. Another major trend is the rise of outsourced manufacturing, primarily for small molecule drugs.
New legislation requiring pharmaceutical companies to implement 'serialization' is now coming into force. This means that no counterfeit product should enter the supply chain and no legitimate product is diverted from its intended destination. To work effectively, serialization requires a comprehensive system to track and trace the passage of prescription drugs through the entire supply chain. The application of track and trace principles can help to avoid counterfeit medicines from entering the supply chain. To be effective, digital technologies such as blockchain and RFID-enabled tag and trace systems need to be embraced.