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TCS ADD Safety Wins Award for Using AI to Re-Imagine Pharmacovigilance

Posted On: 2021-04-20 05:52:05 (Time Zone: UTC)

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that TCS ADD Safety, part of the TCS ADD platform that digitally transforms the entire clinical R&D value chain, has won the award for 'Best Technical Implementation for AI' at the 5th Global Annual Achievement Awards for Artificial Intelligence.

TCS ADD Safety received the award for re-imagining pharmacovigilance by applying machine vision, artificial intelligence, smart analytics and IoT to automate the intake, processing and analysis of safety cases. Powered by TCS Decision Fabric™, TCS' proprietary AI engine, the platform significantly reduces the time taken to process safety cases and increases throughput with consistently high levels of accuracy.

Some of the world's leading life sciences companies which have implemented TCS ADD Safety have realized up to 40% reduction in case processing efforts, improved data quality and oversight, and meaningful insights and predictive models.

"With the TCS ADD platform, life sciences companies across the world can harness the power of AI and analytics to accelerate the development of new, more effective drugs for patients. TCS ADD Safety helps transform safety case management, and meet business and regulatory requirements effectively and efficiently," said Rachna Malik, Global Head, TCS ADD Life Sciences Platforms, TCS. "This award is a recognition of our ability to bring together our deep domain understanding of the drug development value chain and our expertise in cognitive technologies, to create a world-class platform that helps life sciences organizations accelerate their growth and transformation."

"Despite the challenges of 2020 and 2021 with regards to COVID-19, we had the highest number of nominations for our awards. The vast diversity of submissions we receive for our awards shows us how the industry is developing, applying AI in so many ways," said Dr Andy Pardoe, Founder, Wisdom Group (parent company of Awards.AI). "We believe AI will continue to empower humanity, providing assistance and support to make both our business and personal lives more efficient, less frustrating, and improving our health and prosperity. We feel we share this view with organizations that have won in different categories, including TCS ADD Safety."

Part of TCS ADD platform, TCS ADD Safety is an Artificial Intelligence driven solution that integrates data from different sources, and enables automated intake, processing, analysis, and reporting of high safety case volume with quality and consistency. With its unique decision traceability and learning management capabilities to map new ontologies, it leverages natural language processing and artificial intelligence while maintaining regulatory compliance requirements.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.3163.1 as compared to the previous close of Rs. 3193.3. The total number of shares traded during the day was 56293 in over 4512 trades.

The stock hit an intraday high of Rs. 3193.3 and intraday low of 3135.2. The net turnover during the day was Rs. 178090639.

Source: Equity Bulls

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