GlaxoSmithKline's Digital Strategy and Transformation

GLAXOSMITHKLINE DIGITAL STRATEGY AND TRANSFORMATION
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The largest 350 firms on the London Stock Exchange comprise the FTSE 350 index. These businesses are regarded as the UK's most valuable and significant businesses. I have selected the FTSE 100 index-listed business GSK (GlaxoSmithKline) for this study. GSK develops and delivers drugs, vaccines, as well as consumer healthcare products geared at impacting population health outcomes. The firm's operations spread across the value chain spanning from recognizing, researching, developing, and assessing ground-breaking innovations to regulatory approval, commercialization, and manufacturing. The company is currently harnessing the possibilities presented by digital tools and capabilities, including machine learning (ML), artificial intelligence (AI), as well as deep learning (DL) to augment medication discovery as well as a development process to reduce timescales and operational costs. The history of the global pharmaceutical business, GSK, dates back to 1715. The corporation now employs over 92,000 individuals and operates in over 150 nations. Central to the company's success include human resources, manufacturing, science, technology, intellectual property, commercialization, and regulation experts’ capabilities. This paper evaluates GSK's digital strategy and transformation based on justification and rationale for the choice of the company, digital disruptions within the firm's industry, digital technologies and innovation employed, and the emerging technologies likely to impact the future of the selected company. The paper also includes recommendations for the company to augment its digital strategy and transformation endeavors.
Justification and Rationale
Due to the considerable digital disruption the pharmaceutical business is experiencing, GSK will be the subject of this analysis. Companies in this industry are pressured to remain flexible and creative due to the emergence of new technology and shifting client expectations. GSK's approach to digital disruption is particularly interesting as a significant participant in the sector. Enhancing research and development is among the justification and rationale at GSK. GSK has used digital technologies to speed up the drug discovery and growth processes. By utilizing machine learning and artificial intelligence (AI), GSK is able to analyze massive amounts of data and determine potential drug targets with greater speed and accuracy, which can lead to more effective research and development and, eventually, faster accessibility for patients to novel treatments. The digital revolution objectives also justified by the need to augment patient outcomes. In order to create more individualized treatments and services, GSK can benefit from using digital technologies better to comprehend the requirements and preferences of its patients. For instance, GSK has created digital health solutions like wearables and smartphone apps to assist patients in better managing their diseases and complying with treatment plans (GSK Annual Report, 2022). Better health results and increased patient satisfaction may result from this.
Evaluation
Digital technology is significantly disrupting the pharmaceutical sector. The move toward individualized medicine is one of the most significant shifts. Companies can now develop customized medicines based on a patient's genetic profile because of genomics, AI, and big data developments. This strategy could completely change the healthcare industry, but it will cost a lot to establish. The development of digital health innovations is another area experiencing change. People use mobile apps, wearables, and various digital tools more frequently, and healthcare organizations are beginning to use this technology (Mosnaim et al., 2020, p. 2484). Preventative care is becoming more popular, which might lower healthcare costs and enhance patient outcomes.
In addition, GSK is faced with organizational changes that have stalled digital transformation. Pharmaceutical companies, including GSK, have seen their digital transformations falter for rationales such as deteriorated financial results as well as corporate restructuring. This impacts team-level work streams, company-level decisions, and individuals with respect to digital capability investments. The company's digital transformation has not achieved the anticipated state of being safe from company-wide alterations. However, some companies recorded some bright spots, especially those that invested in digital solutions and mobilized their leadership teams to align the firm to digital objectives and vision. Another source of disruption emanates from significant investment in technology deployment, characterized by insignificant business commitment (Tongeren et al., 2018, p. 2). Despite recent investments in fragmented marketing solutions, the company's teams have not achieved the anticipated progress.
GSK needs to see its digital transformation as a strategic need if it wants to remain competitive and relevant in the pharmaceutical industry. Three main focus areas for GSK's digital transformation should be customer experience, superior efficiency, and innovation. When it comes to customer service, GSK should place a high priority on delivering a seamless omni-channel experience to payers, medical professionals, and patients. This could mean developing digital tools and platforms that give patients access to their health information, a way to interact with doctors, and a way to receive customized treatment plans (Macdonald, 2022, p. 46). Additionally, GSK may use analytics, artificial intelligence, and data to learn more about consumer behavior and preferences, which could aid in developing products and marketing strategies.
Critical Analysis
Today's issues and trends affecting the pharmaceutical business appear well-aligned with GSK's digital revolution agenda. GSK is preparing itself to stay viable and competitive in a continuously changing market by prioritizing customer experience, efficiency, and innovation. Nevertheless, a few possible issues demand more investigation and discussion. R&D, manufacturing, and business development are the three main areas on which GSK has concentrated its digital transformation plan. The business has invested in AI and machine learning in R&D to make identifying prospective medication candidates more effective. GSK has collaborated with businesses like 23andMe to get genetic data to help its research endeavors (Gomez-Sanchez et al., 2021, p. 1066). GSK has employed various digital technologies in production to boost productivity and cut costs. The business, for instance, created a virtual replica of its manufacturing procedures that enables it to simulate various situations and increase production. GSK has also deployed wearable technology for its staff members to track their well-being and security at work. GSK has invested in digital advertising and sales platforms to increase connection with patients and healthcare professionals. The business established several mobile apps for healthcare providers and built an AI-powered chat bot to deliver information and help to patients.
One area of worry is the possible effects of digital transformation on the workforce. While digital innovations like RPA and AI promise to boost production and efficiency, they also risk dislodging particular job functions. By investing in upgrading and reskilling initiatives for impacted staff and guaranteeing the advantages of the digital overhaul are fairly dispersed throughout the corporation, GSK will need to manage this shift effectively. The possibility of cyber threats and data intrusions represents another possible difficulty. GSK will be more susceptible to cyber-attacks and data breaches as it relies more on digital technologies and data analytics. As part of its digital transformation strategy, GSK will need to prioritize cyber-security and data privacy by putting in place strong security measures, performing frequent security audits, and ensuring compliance with pertinent data privacy laws. Also, a large investment in ne...