The team at Nexa is dedicated to staying responsive to the ever-changing needs of our clients and candidates, continually adapting to market demands. Through our extensive trusted network built over many years; we aim to excel as a recruitment partner, consistently connecting with the best talent available.
As part of our launch, we want to ensure we are bringing meaningful content and insights to the industry and our partners, to ensure we are supporting the industry with workforce planning, hot topics and set the standard of excellence with impact.
For our first piece, we must discuss the topic in everyone’s mouth, the continued evolution of AI; and the Life Sciences sector really does reflect the evolving landscape shaped by advancing technologies.
Here are some key points on employee engagement:
- Skills Gap Bridging: With rapid advancements in technologies such as artificial intelligence, machine learning, and data analytics, there is a growing demand for individuals with specialised digital skills to support these technologies in the life sciences industry. Emerging talent is expected to bring a fresh perspective and a new range of digital skills to address this demand and bridge the existing skills gap. Getting ahead of and embracing this early on will only set companies apart. Ensuring career and personal development in this space for employees will motivate your workforce, giving a new sense of perspective. It is not going away and with company retention a concern for so many, this will keep engagement.
- Changing Job Requirements: The skill sets required for jobs in the life sciences sector have undergone significant changes over the years. Since 2015, there has been a 25% shift in the required skills, reflecting the increasing importance of digital competencies and technological proficiency in roles across the industry. Companies need to ensure they are staying ahead of the curve and embrace the inevitable.
- Anticipated Growth: The evolution of job skill requirements is expected to continue at a rapid pace, with projections indicating that the skills needed for jobs in the life sciences sector could double by 2027. This underscores the importance of staying ahead of emerging technologies and acquiring relevant skills to remain competitive in the industry. Employees always feel more engaged when they are developed and receiving ongoing training, as said above putting platforms in place to support this will enhance retention.
- New Ways of Working: As technology continues to reshape the life sciences landscape, new ways of working are emerging. Companies are adopting agile methodologies, interdisciplinary collaboration, and remote work arrangements to harness the full potential of digital tools and accommodate the evolving skill requirements of the workforce. It is important to discuss the ‘why’ – as companies embrace this change, employer engagement around modern technologies and business change is vital, employees need to understand and see the future picture to be future ready and be part of that journey.
The projection of AI in the life sciences sector is set to grow from $2.88 billion to $8.88 billion by 2029 which indicates a significant increase in investment and adoption of artificial intelligence technologies within the industry. This growth trajectory suggests that AI will play an increasingly integral role in various aspects of life sciences, including drug discovery,
personalised medicine, and clinical trials.
Here are some potential effects of this projected growth within life sciences:
- Accelerated Drug Discovery: The ability to analyse large datasets to identify potential drug candidates more efficiently, speeding up the drug discovery process and reducing costs.
- Precision Medicine: Analysing patient data to personalise treatment plans based on individual characteristics, leading to more effective and targeted therapies.
- Improved Clinical Trials: AI-driven analytics can optimise clinical trial design, patient recruitment, and monitoring, leading to faster and more cost-effective trials with better outcomes.
- Enhanced Diagnostics: AI-powered diagnostic tools can analyse medical images, genomic data, and patient records to assist in early disease detection and diagnosis.
- Drug Repurposing: Using algorithms that can identify existing drugs that may be repurposed for new indications, potentially accelerating the development of treatments for various diseases.
Overall, the projected growth of artificial intelligence in the life sciences industry represents a transformative opportunity to revolutionise healthcare delivery, improve patient outcomes, and drive innovation across the sector.
In summary, the emergence of skill-based demand in the life sciences sector underscores the need for continuous learning and upskilling to meet the evolving demands of the industry. Embracing digital skills and staying adaptable to modern technologies will be crucial for professionals looking to thrive in this rapidly changing environment
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www.nexalifesciences.co.uk
If there is a topic you want covering, reach out to enquires@nexalifesciences.co.uk
