Klaus Schwab, Executive Chairman of the World Economic Forum, has written a book entitled The Fourth Industrial Revolution and a recent publication by EY (When the human body is the biggest data platform, who will capture value?) leverages some of his thoughts and puts them into the context of the life science industry. These include the rise of cheap storage; increasingly powerful & tiny processors; mobile penetration that approaches ubiquity; and emerging technologies such as 3D printing, blockchain, and artificial intelligence (AI) which have resulted in “a fusion … across the physical, digital and biological worlds.” While you’re unlikely to find this paper in Oprah’s book club, it’s well written and dives into potential implications as “the health services landscape is in the midst of a massive shift and the seamless sharing of data creates more demanding customers and opportunities for more connected, precise medicine.”
With all due apologies to EF Hutton (the commercial will make you feel older than you might want to), when Vasant Narasimhan, Global Head, Drug Development and CEO of Novartis speaks we should all probably listen. In a recent article he outlined three areas that will change medicine in 2018, and spoiler alert, they all have to do with “big” data. The three areas he outlines include; the Internet of things, AI and machine learning, and emerging data platforms. He also introduced InsightCity (and maybe you) to a new term: data lakes (def. virtual warehouses holding immense amounts of raw data in their native form.) Look for “data lakes” on an upcoming IC Buzzword Bingo. FYI, a great 60-minute precision medicine panel discussion from the World Economic Forum/Davos can be found here.