BiopharmaTrend.com

Over the past few years, we have witnessed the evolution of the healthcare industry. The credit here goes to emerging technologies like blockchain and artificial intelligence to name a few.

Just like various industry verticals, mobile applications have played a crucial role in the digitalization of the healthcare sector. Organizations are now readily adopting mHealth by hiring top healthcare app development companies to build excellent healthcare applications for their target user base.

Artificial intelligence (machine learning and deep learning, to be more specific) has become widely discussed topics in the area of life sciences and healthcare over the last several years and the excitement keeps growing. While a lot of pharmaceutical companies and healthcare organizations express considerable interest in possible new opportunities, associated with the use of artificial intelligence for early drug discovery, clinical trial optimization, and business intelligence, a considerable gap still exists when it comes to understanding new technologies by pharmaceutical professionals and leaders. The key questions here are these:

• What machine learning / AI can and can’t do for the pharmaceutical industry

• What should be done to harness practical and measurable value out of machine learning / AI?

• How it should be done and what are the timelines for getting returns on investments? 

The race for adopting new machine learning (ML), deep learning (DL) and related technologies (for simplicity -- “artificial intelligence”/”AI”) keeps rapidly unfolding in the pharmaceutical industry, albeit with varying rate of progress across different use cases. 

Let’s review retrospectively some of the key developments in the drug discovery area in 2019 and see how they characterize the current state of AI in the pharmaceutical industry (“hype vs reality”). Note, that I do not cover healthcare sector in this post (diagnostics, medical applications of AI, digital health etc) -- those will be discussed in one of the future posts.

 

Pioneered by expensive and cumbersome legacy electronic data interchange (EDI) systems, the B2B e-commerce market has been evolving, showing a staggering growth rate with a projected volume of $1.1 trillion in the U.S. alone and $6.7 trillion globally by 2020.

SMi group presents the launch of the inaugural Disruptive Technologies in Pharma conference taking place in London on 20th-21st January, 2020.

As new technologies are being incorporated into pharma it is crucial, we reflect on trends in cutting-edge innovation and explore new tech-enabled opportunities to cut costs and save time.