Artificial Intelligence in Pharma
Exploring Artificial Intelligence in the pharma sectors.
Artificial Intelligence is the process of creating automated algorithms that can perform tasks which would normally have been carried out by humans.
The whole process started with Alan Turing following his work on the encryption code resulting in artificial intelligence being created and our previous way of thinking redefined.
Fast forward 78 years and we are now using artificial intelligence in our everyday situations from facial recognition to self-driving cars. Over the last five years artificial intelligence in Biotech and Pharma has changed the way scientists develop drugs and tackle new diseases.
Subscribe for marketing insights via email
Last year, a study completed by Verdict asked whether or not companies thought artificial intelligence would be vital in their business. 70% of the people asked held the opinion that artificial intelligence would be very important and only a small 11% had said artificial intelligence wasn’t something they had considered.
According to Narrative Science, 61% of the companies that are investing in innovative strategies are using artificial intelligence to identify opportunities that they might have otherwise missed. The Massachusetts Institution of Technology found that out of all the drugs that go trial only 13.8% of them will actually pass the clinical trials stage.
If you are trying to get a drug through the whole clinical trials process with FDA approval you can expect to be paying around $161 million to $2 billion so when it doesn’t work that’s a lot of money to lose. Keeping this in mind pharma companies are taking the time to invest in artificial intelligence because it could result in an increase in the success rate of drugs.
HOW HAS ARTIFICIAL INTELLIGENCE HELPED THE INDUSTRY SO FAR?
Artificial intelligence can help result in better patient outcomes because it might be able to better diagnose patients earlier with more reliability. Lots of companies use artificial intelligence to help them make faster developments in the field and we’ll look at a few next.
NOVARTIS
Novartis uses artificial intelligence to predict untested components, the research is used to try and find new cures for existing diseases. Novartis are using artificial intelligence technology to try and create new treatments and advancements. They are currently investing time in machine learning to classify digital images of cells.
VERGE GENOMICS
Verge Genomics are using artificial intelligence for prediction as they attempt to use artificial intelligence to predict new treatments for patients suffering from Als and Alzheimers to automate the discovery process.
They use data gathering to analyse and create solutions for some of the most complex diseases. They have discovered a way to map hundreds of genes responsible for causing disease using the same technology as Google. It is hopeful that this will predict the effect of new treatments which in the long term will save large costs on drug development. Verge are working on building exceptional solutions to reduce the risk of diseases.
EXSCIENTIA
Exsientia made a big step forward that may change the industry as we currently know it. In January of this year, the first drug designed entirely using artificial intelligence reached the third stage - clinical trials.
The drug they have developed treats obsessive-compulsive disorder. This drug was developed in less than a year which is a massive achievement compared to the 10 to 12 years it would normally take - making this development 5 times faster. Andrew Hopkins form Exscientia believes “that using artificial intelligence in the drug development process could cut costs by 30%.”
HEALX
Healx is a biotech company that focuses on the care of patients and is working to create effective artificial intelligence-powered platforms. They created a platform that would help scientists enhance the production process in rare disease discovery. Artificial Intelligence can be used to focus on analysing drugs so they can be repurposed for rare diseases.
BENEFITS OF ARTIFICIAL INTELLIGENCE
With any new or developing system, there are positives and negatives. Artificial intelligence is no different but there are plenty of positives to using artificial intelligence in the pharma industry.
Artificial intelligence can be integrated widely across the pharma sector, It can be used to help enhance data processing.
RESEARCH AND DEVELOPMENT
Artificial Intelligence can be useful with the research and the development of new life-changing drugs. The R&D stage of a new drug is very time-consuming because it requires a lot of data processing using artificial intelligence you can navigate through the content much quicker, meaning the road to success would be a much faster journey.
SELF-LEARNING AI
The more we teach artificial intelligence systems the more it will learn and the smarter it will get in order to help us find solutions. Artificial intelligence can optimise the industry with its ability to help us get drugs to market at a much faster rate.
UTILISING AI IN THE DRUG PRODUCTION PROCESS
Artificial intelligence makes the drug trials process a lot faster and can help you receive rapid approval. As well as being able to utilise AI in the R&D stage you can use it to assist in the manufacturing process with regards to quality control.
ELIMINATING HUMAN ERROR
It is no secret that human error is very much present in our everyday working lives and the reason a lot of stuff needs to be checked multiple times, using artificial intelligence can help prevent human error indefinitely.
SMARTER MARKETING
Artificial intelligence can help find the correct marketing technique for individuals. AI can be used to look at past campaigns and analyse them so that in future you can continue to do what will give you a good return on investment.
Related posts
DRAWBACKS OF ARTIFICIAL INTELLIGENCE IN PHARMA
As you can see there are many benefits to using artificial intelligence but on the flip side, there are some drawbacks to be aware of.
LACK OF HUMAN CONTACT
Artificial intelligence is a great asset to have but the lack of human contact can become a problem. For example, drug trials are somewhere that lack of human contact could become an issue because people volunteering at these types of events can be very nervous and need that human contact to make them feel more comfortable in the situation.
LACK OF EXPERIENCE AND INTELLIGENCE
If we begin to involve artificial intelligence in every aspect then doctors in the healthcare sector are going to miss out on experience which is normally a massive part of the learning process, hands-on experience is what helps doctors learn and become better at their job, when you involve artificial intelligence you are taking away that aspect of hands-on experience. Sometimes the only way to know how to react to a situation is to have already been in one similar.
TRUSTING SYSTEM PROGRAMMERS
There is a lot of trust required when dealing with artificial intelligence because once the programme is developed that is what will be continually used. The initial trust that must be put in the system programmers is extensive because we have to believe that what is created to begin with is correct as that is what will be treating and diagnosing people.
NO MORE PERSONALISATION
Right now in healthcare, each patient has an identity and they are known by a face and a name and there is a relation between the patient and their doctor, when we begin to involve artificial intelligence everyone will become a number there won’t be room for personalisation and people will be known only by numbers and nothing more.
LOSS OF JOBS AND HIGHER COSTS
When you first start a new process the cost is high. Artificial intelligence incurs a high cost but it is important to be aware that the cost of any new process will be high to start with, once you have invested over time the cost of AI will be worth it due to the decreased time in the drug production process.
TRAINING
Bringing new systems into play will always involve more training for members of staff because people will need to learn how to use the system correctly to get the best outcomes. We are creatures of habit and sometimes it is hard to get into new practices so you might find people are more reluctant to give the new processes a chance and start learning it.
ARTIFICIAL INTELLIGENCE PHARMA CONFERENCE
If you want to know and learn more about artificial intelligence in the pharma sector then the 4th Annual Artificial Intelligence in Pharma Virtual Summit on October 15th is where you need to be. The summit will feature a targeted and dynamic networking experience. The summit will touch on the recent impact of COVID-19 and how artificial intelligence can help. This summit provides a great learning experience through a variety of dynamic formats.
STATISTICS FROM EMERGING STUDIES
A study carried out by Emerji found that 50% of the people asked anticipate that by 2025 there will be a large scale artificial intelligence adoption. There are many illnesses around the world but half the participants anticipated that artificial intelligence will be used to target chronic conditions this was predicted because a large number of American citizens are known to be suffering from at least one chronic condition. Information received from the CDC showed that just under half of the individuals in the United States have at least one prescription.
On average it can take up to twelve years to bring a new drug to the market. If you start to incorporate artificial intelligence into the process it might result in a faster more effective way of bringing a new drug to the market.
For more on strategic digital marketing approaches in the pharmaceutical sectors, and how we can help you, visit our section on web.