8FEBRUARY 2023TECH OUTLOOKIN MY OPINIONIN MY OPINIONDIGITAL INNOVATIONBy Iris Loew-Friedrich, EVP & Chief Medical Officer, UCBAt UCB it is our vision is to amplify the power of scientific innovation through digital transformation, ensuring that we deliver the best individual experience so patients can live their best lives. We use the word transformation intentionally ­ if we do it correctly, it should greatly impact our ways of working and how we do business in the future. When we talk about digital business transformation or DBT at UCB, our focus is on how our approach, (and that our of industry) to business, needs to change to be successful in a digital world.Digitalization comprises technology, data and, importantly, the culture needed to be most impactful in a digital world. It is also directly tied to effectiveness and efficiency. Automation is a good example. According to a recent report from the United Nations, digital technologies have advanced more rapidly than any innovation in our history ­ reaching around 50 percent of the developing world's population in only two decades. There is an enormous human impact as technologies can help make our world fairer, more peaceful, and more just. By enhancing connectivity, financial inclusion, access to trade and public services, technology can be a great equalizer. As a healthcare industry, we need to ask ourselves; how can we utilize technology and data, including artificial intelligence (AI) and machine learning, to better predict outcomes, deliver safer medicines, boost efficiency and effectiveness, and ultimately change, for the better, the way patients experience their care.UCB has recognized the need for a business strategy in a digital world and that, consequently, leveraging digital throughout the business is not a choice but a necessity to enhance business performance and produce new value propositions. Digital technology has started to significantly change the way patients experience their care, how healthcare professionals practice medicine, and how companies like UCB develop solutions and bring them to the market. We know digital platform ecosystems are replacing traditional models driven largely by the digitalization of products, services, and business processes. Today we now have more data available than ever before ­ this could be electronic health records, data from wearables, healthcare apps. A key question should be how do we look at combining this data with algorithms to potentially look at new business models for the future? Iris Loew-Friedrich
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