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40% of pharma executives are baking expected savings from Generative AI into 2024 budgets

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New survey from Bain & Company shows pharma executives are moving beyond AI experimentation to organization-wide scaling 

NEW YORK, Feb. 12, 2024 /PRNewswire/ — The generative artificial intelligence (AI) transformation is well underway in pharma, and pharma companies have high confidence in its value. Already, 40% of executives say they are baking expected savings into their 2024 budget, and 60% have set targets for cost savings or productivity boosts, according to a recent Bain & Company survey.

Nearly 60% of executives say that they have moved beyond ideation and brainstorming to building out use cases, with 55% reporting they expect to have multiple proof-of-concept or minimum viable product builds by the end of 2023.

“Over the next six to twelve months, leading companies will move from cultivating isolated pilots to scaling for results,” said Eric Berger, a partner in Bain & Company’s Healthcare & Life Sciences practice. “As leadership teams move beyond experimentation into pilots and launches, they are thinking carefully about when and how to communicate their AI journeys to investors. Those that can signal a structured, scalable enterprise-wide program, rather than a smattering of standalone initiatives, will reap the rewards in the next phase of AI.”

Data science and machine learning are not new to pharma executives who have been investing in productivity enhancements for years, primarily in the drug discovery space. Bain research shows 54% of pharma companies have automated biomedical literature review solutions, and 46% are using AI as part of their process to find potential disease targets. Now, generative AI is broadening the aperture of use cases with new opportunities across the value chain. Biomedical literature review and preclinical research remain among the most popular use case areas, although we’re also seeing high investment in IT and competitive intelligence. Within these top areas, more than 60% of executives say they have at least a proof of concept in development, and around 10% have already rolled out tools. These early adopters have moved swiftly, often reaching a working pilot within about eight weeks. Already, many are seeing tangible value.

Generative AI is top of mind for most pharma companies, with 75% citing it as a C-suite and board priority. And investors are watching closely to differentiate the pioneers from the followers. If pharma companies want to generate value from generative AI as fast as the technology allows, they need to ensure the organization is ready. Companies can take a three-tiered approach to prime their operating model for generative AI at scale:

Determine your strategic posture. Leading organizations will establish decision-making and funding models that prioritize high-return use cases, ensuring that those use cases fit within their investment themes around bold bets for the future of the business.Lead through change. Generative AI at scale requires strong internal leadership and cross-functional alignment. The best companies will establish an organizational center of gravity with several executives who act as generative AI champions.Build the foundations. In addition to the right technology, data, and models, generative AI at scale requires reorienting the organization to support big visions. This includes recruiting aggressively for data scientists to work on AI initiatives, building strategic partnerships with external vendors for support, and thoughtfully engaging on ethics and regulation by going a step further with a companywide risk management approach.

Editor’s Note: To arrange an interview, contact Katie Ware at katie.ware@bain.com or +1 646 562 8107. 

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

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SOURCE Bain & Company

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UBHOME Collaborates with Qualcomm to Release the Smart Lawn Mower, Co-Creating a New Era of Smart Life

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The 2025 CES in the United States is about to unveil a brand-new chapter in the future intelligent home gardening

LAS VEGAS, Dec. 28, 2024 /PRNewswire/ — UBHOME, a sub-brand of UBTECH Robotics, announced an intelligent service robot in collaboration with Qualcomm Technologies, Inc. The Robotic Mower M10 is a revolutionary smart lawn mower announced at the 2025 International Consumer Electronics Show (CES) in the United States. This product is powered by the Qualcomm® RB1 Robotics Platform, showcases UBHOME’s rich experience in robot research and development, and focuses on solving the pain points of traditional lawn-mowing equipment, providing users with a worry-free and labor-saving smart gardening experience, and creates a new model of gardening intelligence.

User-Oriented: The All-New Convenience Brought by the Smart Lawn Mower to Life

The Robotic Mower M10 is not only a high performance tool but also an upgrade of the smart lifestyle. In response to the pain points of users when using traditional lawn-mowing equipment, this product offers a series of practical functions, bringing brand-new convenience to home gardening:

Wireless and Borderless Mowing: There is no need for cumbersome boundary wire installation anymore. The device relies on accurate environmental perception and navigation technology to independently plan the work area, allowing users to use it right out of the box, saving installation time and energy.

Automatic Mowing, Saving Time and Effort: The device can automatically complete the lawn mowing work according to the preset schedule or real-time instructions, enabling users to manage the lawn care through delegation to the mower.

Wide Coverage and Stable Signal: It supports a large-scale signal connection of up to 130,000 square meters. Even for extremely large courtyards, stable operation can be ensured, and there is no need to worry about signal loss.

Real-time Online, in-control Anytime: Through APP remote control and real-time monitoring, users can adjust the mowing plan or check the device status at any time, managing the courtyard work as they like.

The combination of these functions not only greatly simplifies the complexity of mowing work but also liberates users from repetitive physical labor, allowing them to focus on enjoying the wonderful moments of life.

UBHOME: In-depth Layout in Smart Home

UBHOME is a brand under UBTECH Robotics that focuses on providing smart solutions for families. As a world-leading robot enterprise, UBTECH, with its strong R&D strength and technological accumulation, has successfully launched Walker, China’s first commercial bipedal human-sized humanoid robot. The launch of the Robotic Mower M10 by UBHOME this time is an important step in its layout in the smart home field.

Relying on UBTECH’s technological accumulation in robots and its in-depth understanding of user needs, the Robotic Mower M10 achieves the best mowing effect through environmental recognition and dynamic adjustment. Whether it is complex terrain, steep slopes, or high requirements for fine mowing, it can perform perfectly, demonstrating its excellent technical capabilities and brand commitment.

Powered by Qualcomm Technologies, Facilitating Intelligent Upgrading

As a global leader in wireless technology and edge intelligence, Qualcomm Technologies provides cutting-edge technical support for the Robotic Mower M10, including intelligent edge computing platforms, dynamic path planning, and environmental perception technologies. These technologies ensure that the device can operate efficiently in various environments, providing users with a precise and efficient smart experience. The Robotic Mower M10 utilizes the Qualcomm RB1 Robotics Platform to ensure the superior operation of the Robotic Mower M10 in large-scale courtyards, laying a solid foundation for realizing smart life.

Industry Significance and Trend: Promoting the Development of Gardening Intelligence

With the continuous increase in the demand for home intelligence, the market for smart gardening equipment is in a period of rapid development. As a typical representative of this trend, the smart lawn mower not only meets consumers’ pursuit of a convenient lifestyle but also provides a direction for the transformation of the gardening industry from tool manufacturing to smart services.

The product released by UBHOME not only fills the gap in the high-performance lawn-mowing equipment market but also sets a new industry benchmark. Through the multiple advantages of wireless, real-time connection, and fully automated operation, it endows home gardening with new value, making users no longer regard mowing as a burden but feel the convenience and fun brought by technology.

Innovation Hand in Hand, Co-creating Smart Life

The collaboration between UBHOME and Qualcomm Technologies showcases a strong collaboration of technology and innovation. Both parties are committed to bringing more convenient and efficient life experiences to consumers through technological innovation.

At the 2025 CES, UBHOME and Qualcomm Technologies will showcase the innovative functions and application scenarios of this Robotic Mower M10.

About UBHOME 

UBHOME is a brand under UBTECH Robotics, focusing on providing smart solutions for families. UBTECH is a world-leading robot enterprise dedicated to the research and development and application of artificial intelligence and robot technology and has successfully served more than 900 enterprise-level customers in more than 50 countries around the world.

Media Contact Information
For more information, please contact:
UBHOME Brand Team: mbu-sales@ubtrobot.com 

Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.  

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SOURCE UBTECH ROBOTICS CORP LTD

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Global Launch of JETOUR T2 i-DM: Reshaping the Hybrid SUV Market

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DOHA, Qatar, Dec. 28, 2024 /PRNewswire/ — On December 25, 2024, the First JETOUR Fan’s Festival and the Launch of T2 i-DM was held in Qatar, themed “Think Future”. During the event, JETOUR launched its user brand “Traveler” in the Middle East and its first hybrid model, JETOUR T2 i-DM. The launch event highlights JETOUR’s commitment to exploring sustainable travel modes and ambition to become the “The World’s Leading Brand in Hybrid Off-road Vehicles” under the “Travel+” strategy.

JETOUR T2 i-DM not only inherits the strengths of T2 series, but also achieves high energy efficiency, high performance, high safety, and high intelligence with its advanced hybrid technology, i-DM. With a maximum combined power of 280kW and torque of 610N•m, T2 i-DM boasts a NEDC pure electric range of 139km and an overall range exceeding 1,000km at just 0.8L/100km, addressing range anxiety and promoting green travel.

Mr. Dai Lihong, executive vice president of JETOUR Auto, emphasized technology’s role in producing world-class products. The launch also introduced “Traveler”, enriching user experience through diverse products and superior performance. This year, JETOUR has ranked third in sales across the Qatari auto market. The Fan’s Festival invited user representatives from across the Middle East to witness the unveiling of “Traveler”, experiencing “Travel+” culture through city tours and co-creation workshops.

JETOUR prioritizes users, listening to their needs and co-creating products, brand, and lifestyle. Through “Traveler,” JETOUR aims to provide richer travel experiences and benefits globally, leveraging the platform to spread the “Travel+” culture worldwide. Mr. Alex Tan, Vice President of JETOUR International, said, “Serving ‘JETOUR users’ and being ‘a user-oriented JETOUR’ are JETOUR’s development philosophy. JETOUR will continue to build a travel community centered around users, cars, and lifestyles, sharing the joy of traveling together with users.”

JETOUR also partnered with Diamond League to promote athletics in Qatar and the Middle East, embodying JETOUR Speed and the brand’s image of breakthroughs and innovations. With T2 selling over 150,000 units globally, T2 i-DM will continue its success to meet customers’ needs and reshape the hybrid SUV market.

The launch of T2 i-DM marks JETOUR’s new journey towards “the World’s Leading Brand in Hybrid Off-road Vehicles.” JETOUR plans to introduce more hybrid and off-road models, providing customers with eco-friendly and diversified travel choices. With its innovative spirit and user-oriented philosophy, JETOUR will lead the global automotive industry towards a more sustainable and smarter future.

SOURCE JETOUR AUTO

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My Date with Rural China—-VOC.com.cn Unveils Season Two of I Am in Rural China

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CHANGSHA, China, Dec. 28, 2024 /PRNewswire/ — Modern China’s rural revitalization strategy is crafting a remarkable narrative of transformation across the countryside, while progressive opening-up policies encourage foreign visitors to delve deeper into the nation’s heartland. On December 26th, VOC.com.cn premiered the second season of its acclaimed series, I Am in Rural China. The show follows Teona Kvartskhava, an international guest, as she explores the villages of Hunan Province, offering viewers a firsthand look at the dynamic implementation of comprehensive rural revitalization. This captivating series invites a global audience to witness the dawn of a new era in China’s rural landscapes, showcasing the country’s evolving countryside to viewers worldwide.

Rice field came as the first surprise. Hunan is the largest rice grower and producer in China. Hunan provides the high-quality and tasty rice. Teona Kvartskhava, a foreigner hardly feeding on rice, was tempted to have plenty of it. In Qunle Village, Lixian County, Changde, she also experienced “Double Rush”, which is a time-honored agricultural event in China. An event that used to call for the joint efforts of all family members, has now become much easier thanks to technology.

Departing from Lixian County for the moment, Teona Kvartskhava embarked on an exciting trip of tastes in Rucheng, Chenzhou, Southern Hunan. Hunan people are keen and expert on peppery food and spicy taste dominates the Hunan cuisine. Hunan is also rich in varieties of peppers. Jingpo town, a well-known town where spicy food prevails. It is a producer of red cluster pepper, officially one of the hottest peppers in China. From the crowded market, to the red and yellow pepper planting base, and then to the modern processing pepper workshop, the small cluster pepper strung up all corners of the town, so that the original ordinary mountain town has become extraordinarily lively and affluent.

Of course, the “star” of the countryside here is not only agriculture, but also culture, which has also blossomed in this ancient land. As the birthplace of papermaking, China has preserved a unique handmade papermaking technique, which is used to make some “special” papers. In Shanghong Village, Liuyang, Teona Kvartskhava was lucky to meet two Chinese masters, who showed her hands-on experiences of “Gushan Tribute Paper” and “Floral Paper”. As the process progresses, the paper took shape in her hands, as if history and culture were meeting in front of her eyes, and became the “first paper” in Teona Kvartskhava’s life.

So,What’s rural China like? It’s about hospitable peasants, about various agricultural produce, about profound history and culture, about colorful intangible cultural heritage. It’s like a book telling numerous absorbing stories. Hopefully Teona Kvartskhava’ll be luckier to visit more villages for their unique interest and charm.

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SOURCE voc.com.cn

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