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HomeBusinessFinanceInflation, rising costs to slow down digital transformation: Report

Inflation, rising costs to slow down digital transformation: Report


About 58 per cent healthcare industry professionals globally believe that initiatives would be slowed down due to and rising costs, a new report showed on Tuesday.

About 63 per cent of healthcare and pharmaceutical industry professionals in North America expected a disruption to digitalisation initiatives in their business units due to .

The same opinion was expressed by 55 per cent of industry professionals in Europe and 47 per cent in the Asia-Pacific region, according to Global Data, a leading data and analytics company.

“Rising costs of labour and raw materials has become a dominant topic of 2022. is expected to put some pressure on the profit growth of pharma businesses, resulting in reduced investment activities that may impact projects,” said Elton Kwok, Market Research Manager of Pharma at GlobalData.

Digitalisation requires funding, time and talent and inflation and costs pressures may force companies to scale back focus and investment in these projects, he commented.

involves the implementation of emerging technologies such as artificial intelligence (AI), big data, cloud computing, application programming interfaces (API) and others.




(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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