AI-Powered Budget Forecasting Model for Clinical Trials
A USA-based clinical trial sponsor that initiates, manages, and finances multi-phase clinical trials for drug development.
Lack of standardization across trial sites complicates financial data integration and consistent budget forecasting.
The complexity arises from variables such as regional costs, patient recruitment changes, regulatory delays, protocol adjustments, and differences between planned and actual expenditures.
The system achieved 80% accuracy in predicting budget deviations, enabling stakeholders to maintain tighter control over financial management.
Projected cost overruns were identified in 90% of trial simulations, allowing for proactive risk mitigation and improved resource allocation.
Real-time tracking of trial changes provided dynamic budget insights, enabling stakeholders to adapt strategies and optimize performance.
