The response to COVID-19 has brought into sharp focus the need for greater efficiencies in drug discovery and development. Artificial intelligence (AI) methods hold particular promise in helping to realize those efficiencies. Interest in the use of AI by pharma has soared over the last five years, and investment has increased as use cases mature from academic experiments to commercial applications.
Adoption of AI still faces a number of key challenges, however, and pharmaceutical companies must significantly change not only how they accrue, store, and share data, but also how they frame their corporate cultures to successfully unleash the potential that these new promising methods have to offer.
At Syneos Health, we work with a number of pharmaceutical and emerging companies at the convergence of AI and biotechnology, exploring how to fully harness these transformative technologies. This article shares our insights into several important developments. More crucially, it outlines elements that the pharmaceutical industry needs to consider in moving forward with AI.