Digitisation Slows Down Across Globe Due To Inflation, Rising Costs: Report

According to analysts, the most dominant topic of 2022 is labour cost hike and raw materials. Nearly 63 per cent of healthcare and pharmaceutical industry professionals in North America had expected a disruption to digitalisation initiatives lead by inflation in their business units. On the similar lines, 55 per cent of industry professionals in Europe and 47 per cent in the Asia-Pacific region had expressed an opinion

Around 58 per cent of healthcare industry professionals globally believe that inflation and rising costs will slow down the digital transformation initiatives, according to media report, on 8 November.

Nearly 63 per cent of healthcare and pharmaceutical industry professionals in North America had expected a disruption to digitalisation initiatives lead by inflation in their business units.

On the similar lines, 55 per cent of industry professionals in Europe and 47 per cent in the Asia-Pacific region had expressed an opinion, quoted a media report.

According to analysts, the most dominant topic of 2022 is labour cost hike and raw materials. Expectedly, inflation may to put some pressure on the profit growth of pharma businesses leading to reduced investment activities which may hamper the digital transformation projects.

Various resources such as funding, time and talent are required in digitalisation. Inflation and costs pressures may force companies to step down their focus and investment in these projects, as per the analysts

Process of implementation of emerging technologies like artificial intelligence (AI), big data, cloud computing, application programming interfaces (API) and others, are what Digital transformation demands.