The COVID-19 pandemic continues to push the healthcare and life sciences industry in entirely new ways. In record time, we’ve witnessed public health officials, vaccine developers, equipment manufacturers, and essential workers take life saving actions—regularly putting their own lives at risk—to respond to the exceptional challenges of our time. 

Yet after all the turmoil and uncertainty of the pandemic, record breaking levels of investment continue to come into the market to fuel innovations. 

Vaccine development is now measured in weeks rather than years; providers are leveraging telehealth technologies to improve the physician and patient experience; and individuals have embraced a variety of devices to assume greater ownership and control of their personal health. 

With that in mind, here are five of the many innovations I see driving healthcare and life sciences for at least the next 12 months: 

1. Unleashing the power of healthcare and life sciences data

People have arguably never had as much access and understanding to their personal health data than they can in 2022. They have the ability to understand their genetic makeup, medical history, family history, and activity levels to ensure they are living a healthy lifestyle. Taken together, this longitudinal profile can become the basis for more personalized medicine. Add wearable devices to the mix and patients gain real- or near-real-time updates on their health status. 

Further, global regulatory agencies have continued to mandate the need for providers to maintain a longitudinal health record that provides a holistic view of the patient across all the encounters they have had with a health system. Physician surveys conducted by the The Harris Poll and Google Cloud show that a 360-degree view of the patient, across all provider encounters, leads to faster, more accurate diagnosis, and better outcomes. 

If secure data access and interoperability can begin to include insurers, researchers, public health officials, and others in the field, the powerful network effects benefiting patients will only grow. When combined with those longitudinal phenome profiles, the opportunities for personalized and preventative medicine enter a whole new era.

2. Healthcare and life sciences M&A boom continues

Although the pandemic initially slowed activity on mergers and acquisitions in the early part of 2020, the healthcare and life sciences industry has seen a rapid rebound and acceleration of deals ever since. The success of COVID-19 vaccines, the importance of telehealth, and the focus on molecular modeling and genomic-based drug development have all boosted investment as organizations look to enter new markets, develop new therapies, and leverage low interest rates while they last. 

In 2021, the total funding of US digital health startups surpassed $29 billion across 729 deals, according to advisory Rock Health. That’s almost double the levels of 2020, which itself set records. Analysts at PWC meanwhile estimate M&A investments in biopharmaceutical and life sciences could approach $400 billion this year across all sub-sectors

Clearly, the pandemic has been a primary driver of investment as the focus on healthcare has dramatically increased. Yet the increased activity also reflects changing business models and emerging technologies that are now required to compete in the rapidly evolving space. For organizations to capitalize on these investments, it will take not only great vision and intellectual property but also the right technologies—like cloud—and the right data interoperability models, to make partnerships and acquisitions more scalable, feasible, and seamless.

3. Transforming the patient experience at a new rate

The pandemic has shined a spotlight on the inefficiencies and complexities that exist in healthcare markets across the globe. As wave after wave has surged, global healthcare systems remain overwhelmed on most every aspect of patients’ treatment journeys. Even before COVID-19, healthcare was already one of the largest spend areas for governments around the world. The pandemic has only exacerbated the known issues. 

Clearly, administrators, regulators, physicians, nurses, and patients would agree that the processes and models need to change. There’s a need to maintain this momentum and even increase the tempo to achieve lasting change.

Take telehealth. Within months of the start of the pandemic, providers moved to provide more remote capabilities so physicians could still meet with patients virtually to ensure health and safety on all sides. Payers recognized the importance of telehealth and began to update reimbursement rules. And organizations are now reimagining policies in areas such as prior authorization, submission, and adjudication to reduce complexity and bureaucracy while improving responsiveness.

Looking beyond the system, organizations are also recognizing and deepening their understanding of the structural and social determinants of health that impact patient care and health outcomes, especially for historically underserved communities.  Private and public sectors are learning from, and increasingly partnering with, the social sciences, public health, biomedical informatics, computer science, public policy and community groups around how to build a mI’ore equitable and inclusive consumer products and Health IT strategies. 

The newfound levels of transparency, visibility, and accountability that patients, caregivers, and organizations are achieving will ultimately increase competition and provide a more effective, equitable, efficient and, above all, healthier marketplace for all patients. As we move past the worst of the pandemic, regulators and organizations should keep fighting for progress over business as usual.

4. AI is now a core competency for Drug Development

The ability of organizations like Pfizer, Moderna, Johnson & Johnson, and Astrazeneca to develop COVID-19 vaccines has been a remarkable accomplishment—particularly the historic speed with which they were created and deployed. This innovation acceleration was largely enabled by the use of new drug development platforms that allow researchers to use artificial intelligence and machine learning to model protein and cellular interactions to rapidly advance the science.

No longer must researchers rely on traditional laboratory testing (and retesting). With their improved understanding of the molecular and genetic structure of a patient and, for example, their tumor, researchers can use AI to enable simulations on computers rather than testing in live conditions. This technology can process thousands, even millions of simulations to help  identify high-potential candidates for treatment consideration and subsequent analysis. 

AI-enabled drug discovery models can eliminate months and years from the research process, which can reduce the time to develop a drug and accelerate the time to treatment for an individual patient. As just one example, consider the work on AlphaFold2 by Google’s DeepMind unit who leverages AI to predict effective protein shapes for new drugs. Healthcare and life sciences organizations already recognize the potential of AI. Now comes the investments to leverage this rapidly evolving technology to support their efforts now and in the future.   

5. Ecosystem partnerships tackle complexity and spur innovation

As the importance and growth of the healthcare and life sciences industry continues, we will see even more new players and partnerships emerging to address old problems in new ways. This trend will touch all aspects of the healthcare value chain and will, increasingly, see three- and four-player partnerships emerge to address the complex challenges of today’s healthcare marketplace.

Technology will continue to play a key role as capabilities and platforms will transform all aspects of the marketplace. Cell phones, wearable devices, and other technologies will provide real-time updates and notifications to patients on everything from glucose levels to payments for healthcare services. Voice recognition software will document physician and patient discussions to reduce the burden of record keeping. Real-world data will be used to simplify and confidentially recruit patients for participation in clinical trials. 

New players will continue to enter the market to improve health outcomes and reduce costs. Major retailers are among the companies extending their pharmacies to provide additional diagnostic and concierge services, saving patients from additional appointments while boosting prevention. Community organizations are emerging to help identify and care for underserved communities whose health outcomes are significantly lower than the average patient. 

For all the exhausting and heart-wrenching challenges of the past two years, the opportunities the pandemic has laid bare cannot be overlooked. We owe it to those who have worked and fought so hard for every life to forge even more new partnerships—and make it easier to do so—so that the next crisis, when it does arise, will never be as bad as the one we’re now conquering. Technology can be the enabler in this effort and help bring us together to continue to conquer the challenges that lie ahead.

Expectations for both consumer and commercial products have changed. Consumers want products that evolve with their needs, adapt to their preferences, and stay up-to-date over time. Manufacturers, in turn, need to create products that provide engaging customer experiences not only to better compete in the marketplace, but also to provide new monetization opportunities. 

However, embedding intelligence into new and existing products is challenging. Updating hardware is costly, and existing connected products do not have the capability to add new features. Furthermore, manufacturers do not have sufficient customer insights due to product telemetry and customer data silos, and may lack the AI expertise to quickly develop and deploy these features. 

That’s why today we’re launching Intelligent Products Essentials, a solution that allows manufacturers to rapidly deliver products that adapt to their owners, update features over-the-air using AI at the edge, and provide customer insights using analytics in the cloud. The solution is designed to assist manufacturers in their product development journeys—whether developing a new product or enhancing existing ones. 

With Intelligent Products Essentials, manufacturers can:

• Personalize customer experiences: Provide a compelling ownership experience that evolves over the lifetime of the product. For example, a chatbot that contextualizes responses based on product status and customer profile.
• Manage and update products over-the-air: Deploy updates to products in the field,  gather performance insights and evolve capabilities over time with monetization opportunities.
• Predict parts and service issues: Detect operating thresholds, anomalies and predict failures to proactively recommend service using AI, reducing warranty claims, decreasing parts shortages and increasing customer satisfaction.

In order to help manufacturers quickly deploy these use cases and many more, Intelligent Products Essentials provides the following:

• Edge connections: Connect and ingest raw or time-series product telemetry from various device platforms utilizing IoT Core or Pub/Sub and enable deployment and management of firmware over-the-air and machine learning models with Vertex AI at the edge.
• Ownership App Template: Easily build connected product companion apps that work on smartphones, tablets, and computers. Use a pre-built API and accompanying sample app that can incorporate product or device registration, identity management, and provide application behavior analytics using Firebase.
• Product fleet management: Manage, update and analyze fleets of connected products via APIs, Google Kubernetes Engine, and Looker.
• AI services: Create new features or capabilities for your products using AI and machine learning products such as DialogFlow, Vision AI, AutoML, all from Vertex AI.

Enterprise data integration: Integrate data sources such as Enterprise Asset Management (EAM), Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) systems and others using Dataflow and BigQuery.

Intelligent Products Essentials helps manufacturers build new features across consumer, industrial, enterprise, and transportation products. Manufacturers can implement the solution in-house, or work with one of our certified solution integration partners like Quantifi and Softserve. 

“The focus on intelligent products that Google Cloud is deploying provides a digital option for manufacturers and users. At its heart, systems like Intelligent Product Essentials are all about decision making. IDC sees faster and more effective decision-making as the fundamental reason for the drive to digitize products and processes. It’s how you can make faster and more effective decisions to meet heightened customer expectations, generate faster cash flow, and better revenue realization,” said Kevin Prouty, Group Vice President at IDC. “Digital offerings like Google’s Intelligent Product Essentials potentially go the last mile with the ability to connect the digital thread all the way through to the final user.”

Customers adopting Intelligent Products Essentials

GE Appliances, a Haier company, are enhancing their appliances using new AI-powered intelligent features to enable:

• Intelligent cooking: Help cook the perfect meal to personal preferences, regardless of your expertise and abilities in the kitchen.
• Frictionless service: Build smart appliances that know when they need maintenance and make it simple to take action or schedule services.
• Integrated digital lifestyle: Make appliances useful at every step of the way by integrating them with digital lifestyle services – for example, automating appliance behaviors according to customer calendars, such as oven preheating or scheduling the dishwasher to run in the late evening.

“Intelligent Products Essentials enhances our smart appliances ecosystem, offering richer consumer habit insights. This enables us to develop and offer new features and experiences to integrate with their digital lifestyle.“ —Shawn Stover, Vice-president Smart Home Solutions at GE Appliances.https://www.youtube.com/embed/zaWAJN8aKOw?enablejsapi=1&

Serial 1, Powered by Harley-Davidson, is using Intelligent Product Essentials to manage and update its next generation eBicycles, and personalize its customers’ digital ownership experiences. 

“At Serial 1, we are dedicated to creating the easiest and most intuitive way to experience the fun, freedom, and adventure of riding a pedal-assist electric bicycle. Connectivity is a key component of delivering that mission, and working together to integrate Intelligent Product Essentials into our eBicycles will ensure that our customers enjoy the best possible user experience.”— Jason Huntsman, President, Serial 1. 

Magic Leap, an augmented reality pioneer with industry-leading hardware and software, is building field service solutions with Intelligent Products Essentials with the goal of connecting manufacturers, dealers, and customers to more proactive and intelligent service.

“We look forward to using Intelligent Products Essentials to enable us to rapidly integrate manufacturers’ product data with dealer service partners into our field service solution. We’re excited to partner with Google Cloud as we continue to push the boundaries of physical interaction with the digital world.” — Walter Delph, Chief Business Officer, Magic Leap

Intelligent Product Essentials is available today. To learn more, visit our website.

As organizations continue to produce vast quantities of data, they increasingly need platforms that allow them to analyze, store, and extract meaningful insights from that data. And research from analyst firms like Gartner offer an important way for organizations to evaluate and compare cloud data warehouse providers.

Earlier this year, Gartner named Google a Leader in the 2019 Gartner Magic Quadrant for Data Management Solutions for Analytics (DMSA) (report available here). This evaluation covers Google Cloud’s core data analytics offerings, including BigQuery, a serverless, managed data warehouse, Cloud Dataproc, a managed Spark and Hadoop service, and Cloud Dataflow, which enables you to stream and batch-process your data. Here are a few takeaways:

Simplicity and speed

BigQuery’s performance permits complex queries on large-scale data sets to return in seconds, and a substantial number of BigQuery customers maintain data warehouses that store more than 50 terabytes (and a few customers now use more than 100 petabytes). More than half of these customers are loading data either continuously or many times per day. These customers value the ability to extract, transform, load, and analyze their data on a serverless platform, all without maintaining any underlying infrastructure.

A versatile serverless data warehouse

One of BigQuery’s major advantages is its ability to allow customers to address a wide variety of use cases—from a traditional data warehouse to data science. Over the past year, we’ve worked hard to introduce new features in BigQuery like data types for financial and monetary uses, BigQuery GIS for geospatial data, and machine learning capabilities through BigQuery ML. BigQuery’s continuous ingest capabilities make it suitable for an operational—or a real-time—serverless data warehouse.

An expanding ecosystem

With overall increased market adoption, our analytics offerings continue to benefit from a fast-growing partner ecosystem of service providers, and business intelligence (BI) and data integration vendors. In particular, in 2018 we expanded our partnerships with established industry providers, including Confluent, Dell Boomi, Informatica, Looker, Reltio, Tableau, and ThoughtSpot.

More and more organizations are finding value in Google Cloud’s serverless data warehouse and analytics offerings. If you’d like to learn more, you can download a complimentary copy of the Gartner Magic Quadrant for Data Management Solutions for Analytics on the Google site (requires an email address).

_{Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.}