The life sciences sector is working on improving operations and creating new value by transforming digitally, in a highly regulated sector.
With life sciences technology leaders racing to make the most of advanced technologies, but siloed, decentralised teams and historical underinvestment in data management are limiting the benefits.
Our research finds there should be a balance between keeping up, and applying a strategic approach to extracting genuine value from tech. It is essential to navigate the hype using evidence-based decisions, find solutions that are resilient, and scale new tools such as AI safely and responsibly.
Read the full report to explore more insights and KPMG life sciences technology specialist perspectives on the findings, and to obtain actionable recommendations for addressing life sciences organisation technology challenges.
Survey participants
Key findings for life sciences leaders
Variable outcomes
Only 59% of life sciences respondents say their tech investment decision-making processes usually result in sound decisions that lead to valuable outcomes.
Technology investment
Life sciences leads all of the eight industries surveyed in prioritising and investing in edge and quantum computing, VR/AR/XR, spatial computing, XaaS technology and modern delivery.
AI return on investment
More than one-third of life sciences respondents say their organisations are using AI at scale and are achieving returns on investment.
Cyber security concerns
61% of life sciences respondents worry that cyber security is frequently treated as a box-ticking exercise in staff training and isn’t embedded as extensively as it could be.
About KPMG's global tech report for life sciences
The report explores the perspectives of 123 life sciences technology leaders from around the world. With valuable insights into how life sciences organisations are navigating the complexities of digital transformation and covers topics that include technology investment decision making, data, AI and cyber security.
AI has increased the speed and volume of R&D activities in life sciences, which is likely to lead to new therapies being developed faster and more inexpensively in the future.
Download report
KPMG global tech report 2024: Life sciences insights
Beyond the hype: Balancing speed, security and value.
