A system for monitoring one or more lab processes and predicting their outcomes is provided. The system comprises a data acquisition module configured to acquire at least one of: ambient data and experimental data in real time from one or more lab resources and instruments. The system further comprises a process setup and monitoring module configured to receive the acquired data and facilitate setting-up and monitoring of one or more processes in real time utilizing the received data. The system furthermore comprises an experiment prediction module that is configured to obtain data from the data acquisition module and process setup and monitoring module. The experiment prediction module is further configured to employ one or more machine learning techniques on the obtained data to generate one or more patterns to predict outcomes of the one or more processes conducted in the lab in real time.