It’s our pleasure to introduce Tanmay Bandyopadhyay, the newest member of the HTEC Advisory Board. Tanmay currently serves as senior VP of information technology at Cencora, where he oversees technology strategy, portfolio optimization, data analytics, and artificial intelligence (AI). Over the last three decades, he’s accumulated extensive experience in the healthcare and life sciences (HLS) industry, where he’s helped many enterprise-level organizations drive growth through digital transformation. He was also a key leader in global supply chain transformation at Johnson & Johnson, helping the company deliver award-winning digital products.
Upon joining the Board, Tanmay shared his insights on successfully executing digital transformations, common pitfalls companies face, and the impact of modern technologies on businesses across industries. We also discussed how he plans to contribute to HTEC’s business strategy, driving growth and enhancing customer value.
Key strategies for impactful digital transformation in the HLS domain
Having successfully led companies through digital transformations in the last three decades, Tanmay has experienced the full spectrum of challenges and opportunities. He has observed what typically drives success, identified common pitfalls, and navigated the complexities of stakeholder buy-in.
“To be successful, digital transformation must be business-led. One common misconception is that it should be led by the digital team, while in fact, it should start at the highest level — the CEO and executive board — and then propagate through the entire organization.”
A common pain point Tanmay witnessed during digital transformations is not having a clearly defined strategy and objective — the what and the why. Without a clear vision, companies may spend or allocate poorly with no real return on investment (ROI). A carefully planned and executed transformation can help improve customer acquisition and retention.
Finally, it’s crucial that companies set clear and measurable transformation goals. Companies must define easily understandable key performance metrics (KPIs) and a target ROI. This includes setting specific milestones, aligning digital efforts with business objectives, and continuously monitoring progress to ensure the transformation is on track.
Transformation through disruptive technology
With considerable experience helping companies adopt AI solutions, we were curious to learn how Tanmay believes the latest technologies, including AI and generative AI (GenAI), have reshaped the way companies approach software and business development.
We already see GenAI tools speeding up and streamlining the software development process through automated code generation, refactoring, and testing. What Tanmay pointed out is how this technology is affecting business development:
“In business development, it all starts with getting to know your customer and gaining in-depth knowledge of their needs, preferences, and pain points. GenAI can be very useful in customer analysis and research, as it can help sort through, summarize, and synthesize publicly available information to get helpful insights faster. This allows you to overcome the problem of incomplete or poorly organized information.”
By leveraging AI, companies can hyper-personalize customer interactions, leading to more productive engagement, enhanced customer satisfaction, and stronger brand loyalty.
Beyond AI, technologies like quantum computing, blockchain, and 5G are driving significant change across industries. Some key innovations introduced by these technologies include accelerated data processing, more secure business transactions, and increased telecommunication speed and capacity. Together, these advancements make it difficult to spotlight just one technology and its transformative impact. Still, Tanmay emphasized the use of AI in robotics:
“AI-enhanced robotics can go way beyond simple automation of repetitive tasks. Think of supply chain and manufacturing. Robots could be used to track production and prioritize tasks based on real-time operational data, adapt to dynamic conditions, and ensure optimal resource utilization and efficiency.”
The future of HLS: more personalized and remote care
As a seasoned expert in the life sciences industry, Tanmay has helped develop large-scale transformation strategies for prominent companies like Bayer Healthcare, Pfizer, Johnson & Johnson, Valeant Pharmaceuticals, Warner Chilcott, Dr. Reddy’s Lab, ZS Associates, and IMS Health. In more than 25 years in the industry, Tanmay has seen significant advancements in patient care, operational efficiency, and medical research.
“Digitization alone brought significant improvements in patient record management, enhancing accuracy and accessibility in health data. More recently, the use of AI and machine learning to analyze vast datasets allows medical professionals to identify patterns and make predictions faster than ever before.”
These technologies can rapidly process and interpret complex medical data, including patient records, medical imaging, genomic sequences, and clinical trial results. This capability has revolutionized drug discovery and personalized treatment and accelerated the diagnostic process, enabling earlier detection of diseases and conditions when they are most treatable.
The importance of remote healthcare options
Tanmay also pointed to a significant increase in wearable medical devices in the last decade, helping physicians monitor patients’ health remotely and in real time. Specialized medical sensors help collect data on vital signs, enabling physicians to detect potential health issues early and proactively adjust treatment plans.
With the ongoing shortage of medical staff, telemedicine and wearable technology allow healthcare providers to manage larger patient populations more efficiently, ensure continuous monitoring, and deliver personalized care remotely.
Maximizing business impact through strategic advisory support
Having spent over 14 years at Deloitte US as a consulting leader for the life sciences industry, Tanmay understands the importance of a multifaceted approach to solving complex problems. It involves bringing together experts with technical, business, and industry prowess to create and implement comprehensive solutions. In his opinion, this combination of different backgrounds and experiences can also provide value both for HTEC’s customers and internal stakeholders.
“We [HTEC’s Advisory Board members] all come from different walks of life. It’s up to all of us on the board to leverage our unique backgrounds and know-how to continually improve our collective decision-making and guide the company toward sustained growth and success. With deep engineering expertise across industries, specialized domain knowledge, and a diverse advisory board, HTEC is well-positioned to differentiate itself in a highly saturated market.”
When it comes to his role on the board, Tanmay is most excited to help unlock new opportunities and expand the existing accounts in the life sciences domain, with a special focus on manufacturer and research facility partnerships.
Ethics in AI: Tanmay’s reading recommendation
To close this engaging interview, we asked Tanmay to recommend a compelling book or podcast that has recently captivated his interest. He singled out The Coming Wave by Mustafa Suleyman, the co-founder of DeepMind, as a must-read for all those interested in how the latest technologies, including AI, robotics, and biotechnology, are transforming the world as we know it. From ethical and societal implications to the need for governance and regulations, the book offers a forward-thinking perspective on how to navigate this complex landscape. In particular, it emphasizes the role of human agency in shaping the trajectory of technological development and ensuring that technological advancements align with human values and priorities.
Eager to transform your health tech business with the latest technology in a safe and sustainable way? Connect with Tanmay to explore how HTEC can help.