Do AIs Dream of Electric R&D?
The technology around artificial intelligence is rapidly advancing – and it won’t be long before AI has a significant impact on pharma research and development.
Hui Cai |
It is an exciting time for the pharma industry, with a number of emerging technologies set to potentially have a positive impact. One technology that the industry is becoming particularly passionate about is artificial intelligence (AI), which could transform every dimension of drug development, clinical research, and medical treatment in the industry. As such, it is one of the chief topics at an upcoming global forum being held in January – in particular, speakers will examine what big data and AI could mean for the way we predict, diagnose, and treat disease (1).
A report on drug development by PhRMA saw the association acknowledge the fact that luck is a genuine element of R&D success (2). Reports of the costs of clinical trial failures vary, but it is often reported to be between $800 million and $1.4 billion. We need new technologies that can help address these costs. Even if AI only boosted the efficiency of drug development by a few percent, it could potentially save a significant amount of money.
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