Life Sciences and Health Care Industry Readout Global CIO Survey 2018

Today, organizations typically expect CIOs to build and maintain solid back-end core systems, but they also need to leverage digital technologies to streamline business processes, engage employees and customers, and drive new value-generating business models.

The Deloitte Global CIO Survey 2018 shows that many organizations in the Life Sciences and Healthcare Industry are digital vanguards, and that business leaders understand the influence of both business strategy and technology.
 

Digital transformation in Life Sciences and Health Care

As is true for most industries, digital transformation is no longer a buzzword, but a strategic imperative for companies in the Life Sciences and Health Care sector.

Many of these companies have been exploring the opportunities that digital technologies can offer, ranging from engaging with consumers through apps to using artificial intelligence to help improve operations.

This year’s Global CIO Survey of 1,116 CIOs and 321 CXOs reveals the current state of the CIO role — and what will likely be required for CIOs to remain relevant over the coming years.

Life Sciences and Healthcare Industry specifics

• 10.5% of the Life Sciences and Healthcare Industry organizations are digital vanguards, which is 2.6% higher than the average across all industry.
• Innovation and growth are the top two priorities for Life Sciences and Healthcare organizations
• The Life Sciences and Healthcare Industry listed a strong relationship with security and risk functions only 57% of the time, which is 15% less than the industry average of 72%.
• The Life Sciences and Healthcare Industry believes that emerging technologies and cyber will be more impactful to their organizations in the next three years. 
• They believe that legacy/core modernization will be less impactful to their organizations in the next three years. 
• Compared to other industries, the Life Sciences and Healthcare Industry plans to invest significantly more in AI and machine learning over the next 3 years.
• They plan to invest significantly less in legacy/core modernization over the next 3 years.

In the digital age, technology has increasingly become a primary driver of business transformation and growth. This survey reports how today’s successful organizations and their well-prepared CIOs are adopting a technology-led, business-enabled mindset to drive transformation, growth, and revenue and step up as a business partner and co-creator to inspire, envision, and rationalize digital innovation.

Learn more about the results of the Global CIO Survey 2018 and download the Life Sciences and Health Care Industry Readout.