Revolutionizing Interaction Logging: Scribe.ai's Solution for Biotech Giants

Table of Contents

1. Introduction
2. The Knowledge Society: A Human Accelerator
3. Diving Deep into Emerging Technologies
4. Tackling the World's Biggest Problems
5. Challenges with Real Companies
6. Working with Illumina
7. The Problem with Interaction Logging
8. Introducing Scribe.ai
9. How Scribe.ai Works
10. Generating Insights with Scribe.ai
11. Validation and Research
12. Conclusion

The Knowledge Society: A Human Accelerator

The Knowledge Society (TKS) is a human accelerator that trains high schoolers to make an impact through technology. In the first year, students dive deep into emerging technologies and fields such as artificial intelligence, blockchain, and human longevity. In the Second year, students learn about and learn to solve the world's biggest problems. A really cool part of TKS is something called challenges, where they work with real companies and tackle real problems that they have.

Working with Illumina

For the past three weeks, my team of myself and three other second-year students have been working with Illumina, a $43 billion biotech company. We've been talking to industry experts to identify opportunities for cost savings and growth. What follows is the pitch that we gave to Illumina execs at the conclusion of the competition.

The Problem with Interaction Logging

Relationships are important. Illumina's relationships with leaders at payer organizations, professional societies, and with other physicians and key opinion leaders is how their programs get covered by insurance, get used by physicians and clinicians, get recommended in professional society guidelines, and ultimately generate revenue for Illumina through royalties and reimbursements. Illumina spends a lot of time developing these relationships.

The thing is, every one of these interactions needs to be tracked. In the Current system, every time that an employee has an interaction like this, they open a new tab, they go to Salesforce or open queue, they navigate to the place where they log the interaction, they manually note down all the people who are Relevant to this interaction, and only then can they manually note their summaries, their takeaways, and note any future touch endpoints that might be appropriate.

For a single interaction, this may only take three to five minutes, but when You're dealing with dozens of interactions over the course of a week or even in a single day, the time adds up quickly. On average, a single employee spends five and a half hours a week just on logging interactions. And the thing is, less than half of interactions are even logged at all. Not to mention that five and a half hours of a 40-hour workweek is 14% of your hard-working employees' precious time going completely to waste. Just in terms of their salaries, that is two million dollars that Illumina is spending on logging interactions every single year. We believe that this is a big opportunity for optimization, and we're very excited to Show you our solution.

Introducing Scribe.ai

Introducing Scribe.ai. Scribe.ai does two things. First, Scribe.ai allows employees to log interactions in just one click, reducing the time it takes from five minutes to under 10 seconds. Second, Scribe.ai generates insights from both public and private data, acting as an extension of your mind and enhancing the efficiency and effectiveness of your relationship building.

How Scribe.ai Works

Let me show you how it works. So here's that email from earlier. If you wanted to log this email, previously you would have had to go into open queue, manually note down every person who's copied in this thread, and then write down your summary of the email and key takeaways. With Scribe.ai, you can skip all of those steps. Scribe.ai's interface opens up right in Outlook, right alongside your email. The first thing that Scribe.ai does is identifies all the people who are relevant to this interaction. In this case, we're talking to Dr. Joslyn Coursgard, who's a member of ACOG, as well as three other Illumina thread who were copied in the email.

Next, Scribe.ai automatically generates a summary using the email's Contents. Here, the summary tells us that Joslyn says that she's happy with the specific study that you sent her. She'll even share it at the next ACOG meeting. However, she's not convinced yet that there's enough data for NIPT for average and lower expectancy, so she's not willing to advocate for it yet.

Lastly, Scribe.ai identifies topics that are relevant to this interaction, and it tags the Record with these topics, so it's super easy to find this interaction again when you need to. It also assigns a sentiment score to each topic. In this case, NIPT overall has a slightly positive sentiment attached to it. NIPT for high-risk pregnancies has a very positive sentiment attached to it since Joslyn said that she'd pitch it at the next ACOG meeting. NIPT for average pregnancies, on the other HAND, has a slightly negative sentiment since Joslyn said that she's waiting on more data before she'd support it.

All of this information is generated completely automatically the moment that you open that email. If you want to log this interaction, all you have to do is hit the white button that says "Log Interaction," and in one click, without you having to enter a single letter of information manually, that email with all of its details is logged.

Scribe.ai works for much more than just emails too. Here's an example with a Zoom meeting. Scribe.ai will automatically record the call and later generate a transcript using the recording. From there, the same features are available. Scribe.ai will identify all the people who are in the meeting. It will generate a concise summary of the key points from the meeting, and it will identify and tag the interaction with topics that are relevant with sentiment scores attached to them. And once again, it takes just one click to log this 45-minute meeting that otherwise would have taken you upwards of 20 to 30 minutes to go through yourself and summarize the key points from.

Generating Insights with Scribe.ai

Scribe.ai goes beyond simple interaction logging as well. For example, let's take a look at Dr. Joslyn Korsgard's profile inside Scribe.ai. We can see exactly how she feels about topics like NIPT. We get a suggested next interaction date, in this case, November 11th, because Joslyn said that she presents something at the next ACOG meeting, which Scribe.ai can find out is on November 18th. Whether you're managing 1, 10, or 100 contacts, Scribe.ai remembers all of the details, empowering you to lead personalized and maximally effective outreach strategies with each and every one of your relationships.

Lastly, Scribe.ai can also generate insights Based on topic. For example, we can see what key opinion leaders are the biggest advocates for NIPT. We can see what key opinion leaders stand most strongly opposed to it. We can see what key groups like ACOG, SMFM, and UnitedHealthcare think about NIPT. We can even look at recent literature that's been published about the topic. All of this information you would otherwise have had to spend your own time and resources gathering. By generating it for you, Scribe.ai supercharges your ability to make more informed decisions, set more informed goals, leave more targeted outreach strategies, and ultimately build stronger relationships and get more results faster.

Validation and Research

We received a lot of validation for our vision for Scribe.ai. We've talked to people who work in market access at Illumina as well as other biotech and pharma companies. We've talked to people at ACOG and other professional societies. And across the board, we've seen the need for streamlining and strengthening medical industry relationship building processes.

Conclusion

But let's step back for a second and take a look at the bigger picture. In 2019, Illumina made 3.5 billion dollars in revenue. Across the next-generation sequencing industry, the annual average growth rate is 11.7 percent. If Illumina keeps up with this growth rate, that means that it's growing by more than 400 million dollars every year. With it taking upwards of two to five years for a product to go from the point where it's fully developed to the point where a professional society will approve it and allow it to go fully to market, it's clear that market access is a big bottleneck in Illumina's ability to grow and expand into the clinical market space right now.

Within market access, 14% of time is being spent on something as simple as interaction logging. Scribe.ai eliminates this 14% bottleneck in the market access workflow, resulting in a 14% improvement in Illumina's growth overall. That represents an opportunity of more than 57 million dollars per year, a figure that will only grow with time.

In summary, Scribe.ai is a tool that allows market access and market development employees to log interactions in one click and intelligently generates insights based on public and private data. It eliminates a 14% bottleneck in Illumina's market access workflow, resulting in a 14% improvement in Illumina's growth overall. Scribe.ai is a simple solution with a potential impact of upwards of 58.4 million dollars per year. Thank you for your time.

Highlights

• The Knowledge Society is a human accelerator that trains high schoolers to make an impact through technology.
• Scribe.ai is a tool that allows market access and market development employees to log interactions in one click and intelligently generates insights based on public and private data.
• Scribe.ai eliminates a 14% bottleneck in Illumina's market access workflow, resulting in a 14% improvement in Illumina's growth overall.
• Scribe.ai is a simple solution with a potential impact of upwards of 58.4 million dollars per year.

FAQ

Q: What is The Knowledge Society? A: The Knowledge Society is a human accelerator that trains high schoolers to make an impact through technology.

Q: What is Scribe.ai? A: Scribe.ai is a tool that allows market access and market development employees to log interactions in one click and intelligently generates insights based on public and private data.

Q: How does Scribe.ai work? A: Scribe.ai identifies all the people who are relevant to an interaction, generates a summary using the interaction's contents, identifies topics that are relevant to the interaction, and tags the record with these topics. It also assigns a sentiment score to each topic.

Q: What is the potential impact of Scribe.ai? A: Scribe.ai has a potential impact of upwards of 58.4 million dollars per year.