Data analytics and artificial intelligence are making a mark on Indiana’s innovation economy, which includes life sciences, advanced manufacturing, agriculture, information technology and energy systems. The life sciences sector alone is an important economic driver for the State of Indiana providing one in every ten Hoosier jobs, 20 per cent of all tax revenues, and several billions of dollars in annual R&D expenditures by our life sciences industrial partners. These numbers grow when we include the impact of healthcare delivery with more than 150,000 employed by Indiana’s hospitals and outpatient facilities.
The report begins with an overview of advanced analytics and the digitally-enabled economy. The next sections are the result of data analysis along with information from a series of interviews conducted by TEConomy with major employers in Indiana as well as leadership at Indiana University, Purdue University, and the University of Notre Dame. These provided an opportunity to understand industry needs and opinions regarding AI and advanced analytics in Indiana as well as understand our university research capabilities and core competencies, including a view of talent development and entrepreneurship. The final section provides a set of recommendations for the state within the context of national and global trends.