Transformation through AI is a key lever for us to drive value in our partnerships with businesses, according to Inflexion Partner Alex Mathers. “Broadly speaking, with generative AI we look at product improvements and automation opportunities,” he says.
GlobalData Healthcare (GDH) illustrates the positive impact AI can have on a business. Carved out of its AIM-listed parent with minority capital from Inflexion Partnership Capital earlier this year, the business information company serves 2,000 customers with data intelligence subscriptions. Formerly the largest division of GlobalData (which retains majority control), GDH supports companies across large global pharma, pharma & biotech, pharma suppliers, professional services and medical devices manufacturers.
GDH’s AI journey targets four key areas: enhancing customer experience, streamlining data production processes, internal efficiencies in HR and finance, and developing predictive capabilities for new customer offerings. The primary focus has been using natural language interfaces to revolutionise usability – no mean feat given it holds data about the pharmaceutical industry in over 350 tables in structured databases and 10 terabytes of documents.
The company’s goal was to make its data and insights accessible through low-friction conversational interfaces, with AI performing typical customer analyses directly within its platform.
Neil Dodgson, Chief Product & Digital Officer, GlobalData Healthcare
There is evidence it’s working: whereas initially users were using three-word searches (akin to Google usage), the firm has noticed an evolution to using more words and even sentences that mimic natural language. It means customers can ask highly specific questions, like predicting patient numbers for a certain disease or summarising pharmaceutical innovations, and receive tailored and relevant responses.
These tools were integrated into a single platform in December 2023, with monthly releases allowing continuous iterative improvements, boosting adoption with new features. GDH’s AI Hub now receives thousands of queries a month with increasingly complex searches. It uses generative AI to analyse and synthesise complex queries into clear, actionable insights. For instance, a user could query a pharmaceutical company's deal strategy and AI Hub could create structured outputs like summaries, bullet points, and charts. Positive feedback attests to the tool’s accuracy, supporting GDH’s position as a leader in the field.
Embedding AI into business operations is not a quick switch but rather a process requiring proper change management because processes need to be modified, systems need to be connected and AI solutions need to be iterated to reach desired accuracies.
Inflexion’s in-house AI expert Jan Beitner conducted a survey which revealed 90% of leaders in the Inflexion portfolio believe AI will have a major or even transformational (40%) impact on their business.
The survey identified two core areas where AI is expected to deliver significant value: enhancing customer experiences and driving operational efficiency. Only a small proportion of respondents highlighted potential risks highlighting Inflexion’s portfolio skewed exposure to AI upside. AI’s efficiency catalyses also a rethink of traditional business models, for example enabling shifting from time-based pricing to more desirable fixed fees.
“AI can not only support but also enable the overall business strategy. Automation not only delivers cost advantages but also quality and speed of services enhancing customer experience,” Jan stresses. And adopting AI needn’t require vast CAPEX: proof-of-concept pilots, typically costing £15,000-50,000, can be built within a few weeks, and off-the-shelve tools like GitHub Copilot boost software engineer productivity by 15-25%.
All Inflexion portfolio companies, regardless of size or ownership stake, have full access to our dedicated value acceleration resources covering digital enhancement (including data, AI, technology, cybersecurity and digital marketing), international expansion, M&A, ESG, commercial strategy and talent management.
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