Uncovering the Importance of Artificial Intelligence (AI) in the Pharmaceutical Industry

A steady increase of vacancies in artificial intelligence (AI) related jobs in the pharmaceutical sector this year, despite the impact of COVID-19, shows the importance of AI in the pharmaceutical industry, according to the leading data and analytics company’s Jobs Analytics database. The number of AI-related job announcements tripled from over 1,000 in Q3 2019 to more than 3,000 in Q3 2021. Among those hiring were big names such as GSK, AstraZeneca, Takeda, Johnson & Johnson, Novartis, Roche, UCB, Bayer and Pfizer.

AI adoption is a key way to address research and development (R&D) inefficiency challenges in the pharmaceutical industry, and this rise in hiring efforts is just one demonstration of the industry’s interest in AI.

Unsustainable pharmaceutical business models, and the challenges presented by the COVID-19 pandemic, have illustrated a strong need for innovation to improve business agility, continuity, and resilience.

The implementation of AI has been shown to lead to quicker drug development timelines, reduced costs, increased likelihood of approval, and improved clinical trials processes.

An increasing number of leading pharmaceutical players are partnering with AI vendors to leverage their technology and expertise to identify new drug candidates.

AI algorithms, which are trained using large datasets, are expected to play an even bigger role in the future not only in optimizing drug discovery and development, but also in enhancing processes such as manufacturing, marketing, and sales.

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Source-Medindia