Global retail, manufacturing, pharma firms turn to AI-led simulation services to better anticipate the future
Amid the coronavirus (Covid-19) pandemic, which has severely affected the operations of global enterprises, global companies are asking Indian information technology (IT) services companies for their help for scenario planning using simulation to better prepare for the fallout of the crisis.
Scenario planning is the analysis and understanding of the latest trends to develop several plausible future scenarios that may help to identify how to be well-prepared to deal with what might happen.
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Usually, scenario-planning — through the application of logic — is dominated by big consultancy firms, such as McKinsey, PwC, KPMG, EY, and Deloitte, among others. However, the unprecedented nature of the current crisis has triggered fresh demand for it from a range of firms going to smaller IT firms.
Manufacturing and retail companies, which cannot afford disruption to their supply chains, are some of the clients. Pharma companies and public health care agencies are also approaching IT services firms to build up digital models for clinical trials which are key to new drug development.
Source: Business Standard
