NEW YORK – Sept. 12, 2024 – Lokavant, the clinical trial intelligence platform company, today announced that Aaron Mackey, PhD, Lokavant Senior Vice President of AI and Development, will be speaking at DPHARM 2024 (Philadelphia, PA) on Tuesday, September 17 at 12:05 pm. Mackey will highlight the next-generation form of artificial intelligence, Causal AI, and how it can optimize clinical trial feasibility assessments and help trial sponsors determine the next best course of action to keep trials on track to meet key milestones.
Almost 80% of clinical trial feasibility assessments have poor data collection mechanisms for comprehensive estimates and reliable forecasts, according to ISR Reports. As a result, trials are slow, and resources are wasted. Lokavant’s Spectrum™ feasibility software allows study teams to predict, optimize, and control trial timelines and costs in real-time, enabling iterative analysis and mid-study course correction – critical in today’s dynamic, hyper-complex trials. Spectrum leverages Causal AI to accurately prescribe recommendations to proactively circumvent problems up front, as well as continuously throughout trials to adjust for changes – such as mid-study protocol amendments, which have increased by 60%, according to a 2022 study.
“Today’s specialized clinical trials demand technology solutions as smart as the science being studied to overcome long-standing operational challenges,” said Mackey. “Causal AI is a promising innovation that will allow trial teams to overcome common hurdles – such as frequent, mid-study amendments – and drive faster drug development.”
Lokavant’s Clinical Intelligence Platform and predictive analytics applications are built with proprietary historical trial data from more than 2,000 studies involving more than 14,000 investigators, 12,000 healthcare institutions, real-world data (RWD) sources, and more than 400,000 third-party trials. The platform enables sponsors and CROs to accurately see real-time trial performance and feasibility assessments to optimize decision-making. It has already proven a 70x improvement in enrollment forecast accuracy and over $1 million in cost savings from participant retention.
Learn more about the advantages of Causal AI and Lokavant’s Spectrum solution at DPHARM in Philadelphia on Tuesday, September 17th (12:05-12:35 pm EST).
Originally published on Business Wire