Summarized by AI Model:sshleifer/distilbart-cnn-12-6
Pulse will link US and international pharmaceutical companies such as Pfizer and Roche with African distributors and pharmacies in this developing market . The size of the African pharmaceutical market was projected to be $26.85 billion in 2023, and it is anticipated to grow by 3.4% between 2024 and 2030 . By raising African distributors' and pharmacies' awareness of the supply chain, the proposed Pulse experiment might enhance operations .The Technology for Trade Alliance of Prosper Africa is starting its most recent trial in Africa to test a digital platform that will increase the visibility of drug supply chains throughout the continent and make the commercial market for pharmaceuticals safer, more transparent, and more efficient. The National Association of Boards of Pharmacy, NABP, IBM Consulting, Prosper Africa, and USAID’s e-Trade Alliance are working together to introduce Pulse by NABP in South Africa.
By improving the ability to identify and trace medications, Pulse will link US and international pharmaceutical companies such as Pfizer and Roche with African distributors and pharmacies in this developing market. This will improve communication between trading partners and add security to this changing supply chain. “We want to establish a safe, open environment that empowers pharmacies and distributors to make better, data-driven decisions by utilising AI and data.” This collaboration demonstrates our commitment to assisting in the development of robust ecosystems that promote economic expansion and social impact.
“Through Prosper Africa’s Technology for Trade Alliance, under the Digital Trade for Africa initiative, we support partnerships between companies to leverage technology and create products and services that catalyse financial and social returns for both Africans and Americans,” stated British Robinson, Prosper Africa’s coordinator. We are thrilled that IBM will be utilising Watson AI in this trial to help enhance the traceability of medications that are shipped to Africa.
The size of the African pharmaceutical market was projected to be $26.85 billion in 2023, and it is anticipated to grow by 3.4% between 2024 and 2030. In addition to giving African pharmacies the chance to profit from their data by leveraging AI tools to develop more successful sales strategies, there is a substantial chance for US businesses to gain a deeper understanding of the African market.
Pharmaceutical product distribution in Africa poses serious business obstacles despite market prospects, such as disjointed supply chains, inadequate infrastructure, and disparities in national regulations. Inefficiencies in distribution may arise from this, leading to a restricted supply of products and increased costs for patients at the point of sale. By raising African distributors’ and pharmacies’ awareness of the supply chain, the proposed Pulse experiment might enhance operations, reduce waste, ensure stable stock, and create more profitable partnerships with overseas suppliers.
IBM Consulting’s robust industry and technology expertise, along with its AI-powered delivery platform, IBM Consulting Advantage, will assist in collecting and analysing product scan data for Pulse by NABP in collaboration with African pharmacies and merchants. IBM will also provide training on AI tools like Watsonx.ai to help these pharmacies and merchants make data-driven decisions. The potential of this public-private cooperation to support economic growth and health improvements benefits both African customers and American companies.
By stimulating revolutionary two-way trade and investment flows, Prosper Africa, a presidential-level national security initiative, seeks to deepen the strategic and economic ties between the United States and Africa. A whole-of-government effort called Prosper Africa aims to boost two-way commerce and investment between the US and Africa by utilising the resources and services of 17 US government entities. In order to improve digital access, literacy, and digital enabling environments throughout the continent, the Prosper Africa program supports the Africa Technology for Trade partnership, an e-commerce and digital trade partnership.
