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Predictions on 2024 Industry Trends

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Over the next couple of months, CrowdPharm experts will share their predictions on the trends will dominate the 2024 healthcare landscape. All their insights will be housed in this blog.

Harnessing the Power of AI
Terrence Brown, VP, Digital Strategy and AI
Life sciences marketers can harness AI by using it to enhance many elements of marketing like workflow automation, content creation, channel selection, personalization, sales enablement, and predictions.

Focused AI applications that provide tactical improvements are a great place to begin. For example, AI-powered predictive analytics can uncover customer insights that lead to more targeted marketing strategies. Dynamic content creation with AI copywriting tools allows scalable, tailored content development, which of course needs considerable oversight and editing for coherence, fact-checking, and tone. AI sales assistants arm reps with data-driven prompts and alerts for smarter prospect conversations.

Rather than overhauling existing workflows, AI is best first used to augment high-value areas like personalization and predictions to build confidence in its impact before expanding use cases. The most effective approach is implementing AI in targeted applications to achieve quick wins, then systematically expanding its role over time. AI adoption is all about scalability.

The Rise of Augmented Reality
Terrence Brown, VP, Digital Strategy and AI
In the next three years, augmented reality (AR) technology likely holds the most transformative potential for life sciences marketing. It opens up new possibilities to engage users through increasingly more interactive virtual experiences like product demonstrations, and aid physician training as well as patient education programs and campaigns. Patients can better understand their conditions and treatments through AR-enabled visualizations.

The key changes AR facilitates are highly personalized, immersive experiences that drive better comprehension and engagement. As hardware (headsets) and software (apps) advance, marketing and life science organizations will tailor AR more to individuals and integrate it into their customer journeys. This shift towards immersive personalization will profoundly impact marketing and health education over the next 3 years.

The AI Takeover
Alex Silverstein, Managing Director, Chief Technology and Innovation Officer

One of the biggest 2024 predictions we can count on will be the AI takeover. AI will continue to move faster than it’s regulation. We will see job losses in low-level creative work and job gains for those who can wield the technology to catalyze their creative and supercharge output. There will be big opportunities for: first-movers who can leverage the AI APIs that are just now coming into fruition; integration with all digital products; and customized AI—a chatbot for every pair of eyes.

We will see the beginning of AI-based tracking for personalization to the extreme where impersonation will become a growing concern—top brands will need to be wary of imposters that are smarter and harder to recognize. This technology will provide opportunities to dazzle with faster production and more advanced analytical capabilities than ever before.

Commercialization of Pharma
Kaley Wagner, Managing Director, Client Operations
A trend that the CrowdPharm team has been focused on in the last year is the consumerization of pharma and healthcare. In recent years, we’ve seen the acceptance of tele-health and consumer tech giants like Apple, Google and Amazon jumping into the healthcare and pharma space, all seems like it’s paving the way for a more consumer-focused approach in this industry.

 

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