The applications of Artificial Intelligence (AI) in the pharmaceutical industry are increasing by leaps and bounds. The artificial intelligence use in the drug discovery market was estimated at 897.6 million dollars and according to the forecast, it will reach 1.1 billion dollars in 2022. Artificial intelligence is now deeply rooted in drug discovery and vaccine manufacturing. 19 per cent of the pharmaceutical industry is on the brink of a rapid revolution due to the increasing applications of AI technology.
Disease Identification and Diagnosis:
Artificial intelligence and machine learning technologies can assess and analyze a huge volume of data in comparatively less time. As a result, the process of diagnosis and identification of disease has sped up. Although this application is related more to healthcare than pharmaceuticals, using these procedures means speeding up the whole process from diagnosis to drug discovery, research, development and commercial scalability which preserves life in general. Pharmaceutical giants and pharma contract manufacturing companies are pairing up with healthcare technology companies to develop innovative AI models to distinguish characters of various types of cancers and then use those results to develop new and better treatments.
Digital therapeutics is a new niche in the pharmaceutical industry with relatively less development at the present. But, artificial intelligence technologies have made this niche grow rapidly over the last few years. Digital therapeutics make it easy for health organizations and drug discovery companies to get more knowledge about individual patients so they can manufacture personalized medicines which are more effective treatments. AI Technologies take a lot of burden from the shoulders of human beings by processing large volumes of data and organising them which can then be converted into better pharmaceutical practices.
One of the most revolutionizing applications of AI technology is the acceleration of the drug development process. AI increases the productivity, efficiency and manufacturing of life-saving drugs through quality control and automation. Drug development is faster than it has ever been. AI technology has also reduced the costs of launching new drugs into the market by 15% which is a welcomed benefit. Big pharma companies are now partnering with AI-driven technologies to make better use of the innovations. This has decreased the processing time significantly.
Data collection and analysis are the core of drug development and discovery. The predictive analysis through AI has given the companies access to better and more creative insights that give rise to various developments in research, manufacturing, supply and sales. AI and ML technologies have made the areas of drug effectiveness against disease and clinical trial results predictive which makes it possible for pharma companies to make informed decisions.
AI technology is used in clinical trials to identify patients which fit the criterion of trial requirements through analysis of genetic information and predictive analysis. AI has completely revolutionized lengthy traditional clinical trials and replaced them with procedures that get the desired results in less time. In future, AI technology will be reliable to check on patients in clinical trials and gather relevant updates.