Harnessing Generative AI in the pharma industry

On 21 February 2024, the Association of Pharma Financial Executives, Inc. (APFEI), a distinguished organization in the pharmaceutical sector, convened more than 30 chief financial officers and finance executives belonging to key pharma sector players at The Palms Country Club in Alabang, Muntinlupa City.

The esteemed gathering, led by APFEI President Allan Tampoco, featured PwC Philippines Digital Transformation Director Angelo Basuan as the keynote speaker. Angelo shared insights into the transformative capabilities of Harnessing Generative AI (GenAI), guiding pharmaceutical enterprises into a new era of AI-driven solutions. Some of the highlights of his presentation include:

• A compelling quote by a Harvard Business School researcher started his presentation, emphasizing that "AI won’t replace humans...but humans with AI will replace humans without AI."
• Businesses leveraging AI are the ones positioned to disrupt the industry.
• The topics that he covered were GenAI use cases, potential benefits, digital upskilling, AI risk and governance, and a hands-on demonstration of GenAI in action.
• The transformative impact of GenAI has ignited a global curiosity among organizations and leaders, prompting them to delve into this cutting-edge technology and explore its potential to revolutionize their operations and to remain at the forefront of innovation.
• The business value derived from embracing GenAI emphasizes the imperative for leaders and their teams to possess the necessary tools and mindset, essential for thriving in an ever-evolving landscape of opportunities and competition.

As precisely stated by a financial executive from APFEI during the discussion, “you cannot remain where you are,” acknowledging the rapid evolution of this technology, the ongoing need for upskilling, and the exponential value that GenAI promises for enterprises in the long term.

The Digital Services Development's (DSD) Digital Transformation team members — Senior Associate Anya Mision, Associate Drake Jordan, and Intern Kaye Tubice — assisted Angelo in seamlessly addressing the inquiries of APFEI executives throughout the session.

For more information on how digital transformation can help your organization, visit Digital Transformation Solutions.