AI will become the most disruptive technology in the pharmaceutical industry by 2021 and beyond

News Highlights: AI will become the most disruptive technology in the pharmaceutical industry by 2021 and beyond

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Artificial intelligence (AI) will transform the pharmaceutical industry in the coming years by delivering productivity improvements and efficiencies across the pharmaceutical value chain, GlobalData says.

GlobalData’s latest report, ‘The State of the Biopharmaceutical Industry 2021’, reveals that AI is expected to be the emerging technology that will have the greatest impact on the pharmaceutical industry by 2021, as shown by * 36 percent of 198 pharmaceutical professionals surveyed industry .

Kitty Whitney, Director of Thematic Research, comments: “Compared to other industries, the pharma is generally slow to adopt this technology. However, the AI ​​ecosystem in pharma has grown significantly in recent years, and this trend is expected to continue as the benefits of the technology are realized. The urgent need for COVID-19 vaccines and treatments is believed to have accelerated the adoption of AI in drug discovery and repurposing, and could be a turning point for the wide adoption of the technology in the pharmaceutical industry. “

In drug discovery, many pharmaceutical companies partner with AI vendors or start-ups to take advantage of their technology and expertise. Examples of leading AI vendors operating in this space include Exscientia, Atomwise, Recursion Pharma, Insilico Medicine, and BenevolentAI. Pharmaceutical companies are also starting to build more internal capabilities, as shown by GSK and Novartis. In addition, in February 2020, Eli Lilly’s Olumiant (baricitinib) was identified in just three days by British start-up BenevolentAI as someone who had the potential to treat COVID-19, and received an Emergency Use Authorization (EUA) from the Food and Drug Administration (FDA) in November.

A recent analysis by GlobalData identified nearly 100 partnerships between AI vendors and major pharmaceutical companies for drug discovery since 2015, more and more of which are witnessed in recent years. Analysis shows that four partnerships were forged in 2015, rising to 27 in 2020, an increase of 575 percent in just six years.

Whitney added, “The pharmaceutical industry is under increasing pressure, with rising costs for drug development, manufacturing and marketing eroding profit margins. In addition to drug discovery, AI can be applied to a wide variety of other functions, enabling clinical trial design and recruitment, smarter and more efficient supply chains, and targeted sales and marketing. “

* A total of 198 GlobalData Pharma customers and potential customers participated in the 10-minute survey conducted from November 17, 2020 to December 11, 2020

Via: www.expresspharma.in

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