A recent strategic report by KPMG highlights a significant shift in technological priorities among life sciences executives. The Internet of Medical Things (IoMT) has outpaced Artificial Intelligence (AI) to claim the top spot as the most vital capability for driving business growth and operational efficiency over the next three years.
Gathering insights from 110 global CEOs—57% of whom represent the pharmaceutical sector—the survey revealed several key findings:
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Strategic Ranking: 83% of CEOs identify IoMT devices as the primary engine for accelerating R&D. Other high-ranking technologies include agentic AI, biomimetic devices, and privacy-enhancing tools, all cited by 75% to 80% of respondents.
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Implementation Barriers: Despite the high interest, the integration of AI into legacy systems remains a top concern (28%), closely followed by challenges in supply chain resilience and general technological disruption.
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Investment Outlook: 73% of firms plan to allocate 10% to 20% of their tech budgets to AI initiatives. Furthermore, 65% of leaders anticipate tangible returns on these investments within a one-to-three-year window.
The report also underscores a robust optimism regarding M&A activity, with 86% of CEOs displaying a moderate-to-strong appetite for deals through 2028. However, the approach is becoming more disciplined, prioritizing long-term performance and sustainable value creation over rapid scaling. This strategic equilibrium between cutting-edge innovation and cost-effectiveness is currently the dominant force shaping the industry’s trajectory.