● The Fourth Industrial Revolution is here for the world to see and it has touched industries and lives like never before. The benefits of Artificial Intelligence are manifold. According to research by MarketsandMarkets, AI spending in healthcare is expected to be worth $36.1 billion by 2025. 5G Technology can enhance the capabilities of machines, allowing them to process vast amounts of data in real time without the previous barrier of network reliability. In a lifecritical industry like healthcare, such speed and reliability have transformative value.
● One such sector that has been revolutionalised is the Pharmaceutical industry. AI can be used in several stages of Pharmaceutical industry- Drug discovery to manufacturing, marketing and networking with stakeholders. It also presents an ocean of untapped opportunities for business transformation- improving productivity and delivering better outcomes across the value chain. It can make the business operations efficient, cost-effective, and hassle-free.
● AI tools in pharma are algorithms designed to read, group and interpret large volumes of textual data. This can be a big time-saver for researchers in the life sciences industry. Top pharmaceutical companies, including Roche, Pfizer, Merck, AstraZeneca, GSK, Sanofi, AbbVie, Bristol-Myers Squibb, and Johnson & Johnson have already collaborated with or acquired AI technologies.