Parexel and Palantir: Powering Positive Healthcare Outcomes
AI is frequently being touted as a cutting-edge solution within the healthcare sector, with multiple businesses seeking to harness the technology to improve patient outcomes.
This is exactly why software company Palantir is partnering with Parexel, one of the world’s largest clinical research organisations (CROs), to leverage AI to help enhance and accelerate the delivery of safe and effective clinical trials for biopharmaceutical customers around the world.
Parexel aims to leverage Palantir’s Foundry and Artificial Intelligence Platform (AIP) to further power its clinical data platform. It will be the first CRO working with Palantir in this capacity, with both focusing on driving clinical trial efficiency while maintaining the highest level of safety and regulatory rigour.
Expanding the capabilities of AI
With the partnership between Palantir and Parexel, the companies can rapidly scale its use of AI to enhance data quality and streamline clinical processes to deliver improved customer and patient outcomes. Parexel seeks to combine its end-to-end delivery model with Palantir’s AIP to generate more strategic insights, inform drug development and speed up time-to-market.
Palantir Technologies Inc. is a public American company that specialises in software platforms for big data analytics. Headquartered in Denver, Colorado, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen and Alex Karp in 2003.
The company works to build software that empowers organisations to effectively integrate their data, decisions and operations. It was founded on the premise of recognising a different kind of technology that could elevate the power of automation with an engineering mindset.
"We're thrilled to expand our collaboration with Palantir - a leader in AI technology - as we build on our application of AI to further improve clinical trial execution and advance our offerings in Real World Evidence, advanced analytics and Health Outcomes,” says Jonathan Shough, Chief Information Officer for Parexel. “Leveraging our internal Parexel expertise and our strategic partnership with Palantir, we have novel solutions already in use or in various stages of development that demonstrate our commitment to be a fully digital CRO.”
Keeping people at the forefront of automated processes
Supported by Palantir’s industry-leading software, Parexel’s clinical data platform provides an integrated digital environment to hyper-automate manual processes. As a result, it can safely promote data discoverability, distil insights from historical trials and streamline coordination among scientific and operational teams and their partners.
The company is already a leader in the CRO industry by accelerating the clinical trial lifecycle via its Parexel Precision Pathway. This is an end-to-end operational approach that prioritises the delivery of clean data while focusing on efficiency, quality and predictability.
“Parexel has embraced the principles of digital transformation using generative AI at remarkable speed and scale,” says Dr. Lalarukh Haris Shaikh, Executive, Life Sciences at Palantir. “The company will significantly accelerate its business by untapping the value of data via an ontology constructed within Palantir Foundry and connecting it to the immense power of generative AI in AIP.
“We are delighted to deepen our exceptional collaboration with Parexel, empowering them to fully leverage the capabilities of AIP and Foundry throughout their clinical processes and business operations.”
Within the enterprise AI landscape, plenty of companies are partnering with healthcare and biomedical companies to achieve significant medical advancements. Notably, at the end of 2023, IBM joined forces with Boehringer Ingelheim to advance generative AI (Gen AI) in healthcare.
Likewise, ServiceNow is working to digitise and automate siloed processes to deliver smoother and more integrated experiences to improve patient care.
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