Skip to main content

Pharmaceutical Companies Explore New AI Applications

How can artificial intelligence (AI) technology improve traditional medicine? With 97 percent of all drug discovery programs reportedly failing, the development of a single new therapeutic involves an average cost of $2.6 billion. Helping to improve that process is a huge upside opportunity.

Today, the complex research framework that's involved in the discovery and development of new therapeutic products makes drug innovation an extremely laborious process, according to the latest worldwide market study by Frost & Sullivan.

Pharmaceutical AI Market Development

More than 60 percent of known diseases remain untreatable. Meanwhile, life sciences companies are making progress in the fields of gene and cell therapies, omics technologies, and smart molecules approaches, creating the need for advanced, cost-effective technologies that can parse large quantities of data.

"Pharmaceutical companies are increasingly recognizing the value of deploying AI-based platforms that can leverage data regarding gene mutations, protein targets, signaling pathways, disease events, and clinical trials to find hidden drug-disease correlations,” said Cecilia Van Cauwenberghe, senior analyst at Frost & Sullivan.

This technology will enable scientists to derive structured and unstructured data from multiple sources as never before. Moreover, strategic collaborations with IT vendors can help pharmaceutical companies establish a robust, AI-based pipeline as part of their portfolios and address new therapeutic areas.

AI-driven tools are encouraging companies to develop therapies for severely underserved areas and are also paving the way for precision medicine through a stratified therapeutics discovery and development approach.

Collaborations among database holders, AI developers, and drug manufacturers will facilitate the early development of multiple therapeutics, even those focused on treating rare and chronic diseases.

The leading companies are also empowered to make the most of scientific results and learning systems synergy to ensure a successful clinical translation of therapeutic, diagnostic, and theranostic developments. Some of the key applications of AI technologies in pharmaceuticals include:

  • Drug development: Aids in disease modeling, drug design and development, lead identification, and drug repurposing.
  • Candidates validation: Helps design and run pre-clinical trials, in silico/in vitro/in vivo studies, and investigational new drug (IND) process.
  • Clinical trials: Supports all processes, from designing the trial to patient identification through data collection, analysis, and report generation.
  • Regulatory approval: Facilitates the approval of application and process, labeling, and safety updates.
  • Precision medicine: Accelerates the development of preventive and personalized care, treatment surveillance, and omics adaptive models.

Outlook for Medical AI Application Growth

"Overall, there is a profound and growing scientific understanding of many metabolic and signaling pathways, especially at molecular and genomic levels, which encourages the use of sophisticated technologies to develop groundbreaking therapies," noted Van Cauwenberghe.

As the underlying causes of many diseases remain vague and imprecise, artificial intelligence-oriented approaches have emerged as the ideal mechanisms for finding novel treatments.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Flexible Working: Why Company Culture Matters

The main reasons for the Great Resignation are obsolete leadership, fearful middle managers, and a toxic culture that hinders employee engagement. Perhaps that's why some organizations are still struggling with the consideration and development of a flexible working model.  They're incapable of evolving to a more enlightened approach to work where employees are treated with respect. They're stuck in a bygone era of the 20th-century industrial revolution where 'shareholder value' tops all other values, and where spreadsheets and financial data analysis drives all key decision making. We should not be surprised that 76 percent of human resource (HR) leaders now feel that hybrid work challenges an employee's connection to organizational culture, according to a recent survey by Gartner. A 2022 poll of HR leaders reveals the most challenging aspect of setting their hybrid strategy is adjusting the current organizational culture to support a hybrid workforce. In fact,

Energy Sector IoT Cybersecurity Gains Momentum

The electric distribution industry continues to invest in digital transformation projects. Advanced Metering Infrastructure (AMI) technology is becoming a driver for connected electricity meters, which will reach an installed base of 1.3 billion by 2027. AMI growth is prompting utilities and energy suppliers to revisit their IT infrastructure security and device management operations, according to the latest worldwide market study by ABI Research. Energy Infrastructure Security Market Development Digitization of traditional electricity grids and the modernization of the aging energy infrastructure is among the top concerns for utility operators and governments worldwide. Security for last-mile energy consumption applications was frequently overlooked. "However, the introduction of AMI, smart metering, and grid digitization is steadily increasing spending for secure management services, assisting implementers to transition to IT (information technologies) and OT (operational techno