Bringing AI to the entire C suite

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Digital transformation was at the top of the corporate agenda in 2022. Leaders in highly regulated industries like finance and healthcare were among these increasingly demanding, human-driven, data-driven solutions. technology, who have continued to modernize and use their data in the cloud. These transformation initiatives engaged everyone in the C-suite, including CEOs, who saw a need for analytics, AI, and cloud skills to meet business demands.

For some time, our customers have wondered how to manage and ensure the continuity of their data and cloud strategies. Now, leaders expect much more value from data implementations and services. The conversation has shifted to focus on data-driven insights.

That's why it's no surprise that 92% of executives say they're all-in on the cloud. The cloud is a catalyst for broader business transformation. It creates more accessible data, which in turn enables insights and analytics to support rapid decision-making.

Everything from the pandemic to geopolitical issues to the current economic downturn are among the factors underscoring the need for real-time actionable data.

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AI should be one of the main resources to help companies harness and exploit this data. I anticipate this will bring further disruption and competitive advantage in today's rapidly changing economy. In fact, AI is expected to contribute $15.7 trillion to the global economy by 2023. Healthcare and financial services are among the sectors that will benefit the most.

To stay ahead of the curve, we acquired data-driven consulting firm Sagence. They specialize in translating an organization's strategy into data and analytical actions, harnessing the competitive advantage that data and related information can bring. This is the fourth in a series of acquisitions we've made over the past 18 months to meet customers where they are and stay ahead of our rapidly changing digital environment. We've seen more interest and adoption in AI this year than in previous years, as leaders look for new ways to identify and make data-driven business decisions.

The pharmaceutical industry exemplifies the trend of leveraging data assets with advanced analytics and AI techniques to accelerate the development of new drugs and therapies. During clinical trials, the critical step needed to prove the safety and efficacy of new drugs also tends to be the most expensive part of the overall drug development process. By using natural language processing (NLP) techniques to harvest insights from historical protocols and clinical trial results, leading pharmaceutical companies have successfully designed trials that reduce cycle time by up to 20% . This has brought new medicines to market faster, which has had a positive impact on the lives of patients, while improving the profitability and exclusivity of innovative medicines.

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AI offers new opportunities for all types of businesses, from utilities to financial services...