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New technologies like big data analytics and artificial intelligence (AI) are starting to transform the broader healthcare landscape, with personalized medicine and patient support systems proving to be particularly promising use cases. Though the National Institutes of Health have argued that “the surest path to advancing prevention and treatment of disease has been the detailed understanding of the factors that contribute to health and disease in individual patients,” the vast majority of pharmaceutical treatments are still evaluated based on the “average” patient’s outcome. Advanced analytics and artificial intelligence platforms enable pharmaceutical companies to access and process information from various patient groups in near-real time, facilitating not only faster drug development, but clearer insights into how drugs affect certain kinds of patients. The ability to predict adherence ahead of time gives companies the opportunity to intervene and prevent churn by flagging high-risk patients to their HCPs and proactively providing these patients with better, more robust support systems (informational hotlines, online patient communities, medication reminder smartphone apps, etc.).
Data analytics and IoT technologies have enabled the hospitality industry to improve operations, reduce costs, and transform guest experiences. These technologies offer travel, dining, and recreation companies substantial cost savings as well as myriad opportunities to increase revenue by transforming everything from their day-to-day operations to their marketing to the guest experiences they provide. With access to countless data points on each guest (thanks in large part to the rise of online booking and account profiles), hospitality companies can predict visitors’ preferences, give them birthday-related or otherwise personalized perks, offer them customized service packages, and more. As the Home Depot and Target breaches have illustrated, ensuring that customer data is secure is of the utmost importance for organizations who must protect guest data or risk suffering negative impacts to their brand image and guest loyalty.
What’s more, as the COVID-19 pandemic has caused supply chains to evolve, social distancing to become the norm, and remote work to become nearly universal in many industries, the old playbook for location strategy has been all but tossed out the window. Companies that haven’t adapted to remote work as smoothly as Twitter or Google have may end up needing more space, not less, in order to facilitate their employees’ adherence to social distancing guidelines. Even companies that opt to go fully remote will likely need to preserve some office space for important meetings and collaborative projects, and those spaces will need to be rearranged to reflect their new purposes. The need for more space to accommodate these new layouts may push these companies to consider suburban or rural home bases to reduce their real estate costs.
The automotive industry should be prepared for shrinking sales and steep competition in the latter half of 2020, as well as the emergence of new means of reaching and selling to potential buyers. Drivers want their cars to deliver the same seamless connectivity they experience with their phones, tablets, and laptops, and thanks to systems like Apple CarPlay and Android Auto, there’s no reason why they ca Many drivers don’t realize that their key fob, steering wheel, and infotainment systems are fairly easy to hack, and it’s up to manufacturers to secure these critical systems. While tighter household budgets and wariness of in-person shopping may put a damper on demand, it’s also possible that fear of infection will make public transportation a less appealing option to many consumers, who may opt to become first-time car buyers.