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Inflation, rising costs to slow down digital transformation: Report
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IANS | 08 Nov, 2022
About 58 per cent healthcare industry professionals globally believe
that digital transformation initiatives would be slowed down due to
inflation 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 inflation.
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. Inflation is expected to
put some pressure on the profit growth of pharma businesses, resulting
in reduced investment activities that may impact digital transformation
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.
Digital
transformation involves the implementation of emerging technologies such
as artificial intelligence (AI), big data, cloud computing, application
programming interfaces (API) and others.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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