Pharmaceutical behemoth AstraZeneca has reportedly announced the formation and launch of a new digital health company called Evinova, as reported by Decrypt. The organisation will function autonomously within the AstraZeneca ecosystem with the objective of expediting the development of pharmaceuticals through the implementation of digital solutions. Pascal Soriot, the chief executive officer of AstraZeneca, is of the opinion that Evinova's synergy of scientific prowess and extensive experience in implementing AI-powered digital technologies can significantly enhance patient care, catalyse the revolution in healthcare, and mitigate carbon emissions.

By 2032, it is anticipated that the digital health market, encompassing wearable devices, telemedicine and remote care, smartphone applications, and virtual or augmented reality, will be worth $900 billion. AstraZeneca asserts that the time and financial investment necessary to conduct clinical trials results in their failure in close to 80% of cases, with the mean duration from trial initiation to final approval exceeding seven years. Evinova will initially concentrate on the design and execution of clinical trials, with support from Fortrea and Parexel, two clinical research organisations.

Artificial intelligence (AI) has achieved widespread adoption in numerous sectors, such as education, healthcare, and defence. Over the past year, tech titans Microsoft, Google, Amazon, and Meta have made substantial investments in artificial intelligence. Based on regional and historical data, Evinova believes AI can accelerate the process of designing studies, automating cost calculations, and determining trial feasibility. Additionally, AI can accelerate the process of decision-making, which may reduce the duration and expense of clinical trials.