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The biopharmaceutical industry has been impacted and put under pressure by a variety of factors, including the Covid-19 pandemic, inflation, the war between Ukraine and Russia, ongoing supply chain issues, and a difficult economic environment. and emerging technology providers continue to grow. , especially in the research and development (R&D) sector, providing some resilience in times of geopolitical and economic turmoil.
One such emerging technology, artificial intelligence (AI), is expected to play a key role in the pharmaceutical sector in 2023. According to survey data published in GlobalData, State of the Biopharmaceutical Industry – 2023 According to the report, 39% of surveyed healthcare industry professionals believe AI will be the most disruptive emerging technology in the field this year (Figure 1).
AI has been voted the most disruptive emerging technology every year since 2020, according to Research Tracker. The report also suggests that big data is seen as the most important partner for AI when it comes to introducing technology-related change in the pharmaceutical industry (Figure 2). Combining AI and big data is seen as an important solution for saving time, effort and financial costs in the pharmaceutical value chain, which consists of many complex processes and functions.
As AI use cases become more successful, the industry is gaining confidence in new technologies. Recent examples in the pharmaceutical sector include Poolbeg Pharma’s use of AI to discover multiple respiratory syncytial virus (RSV) vaccine candidates. This was done by examining a large body of early-stage clinical data to prioritize candidates and reposition them as new treatments for RSV infection. Additionally, an AI-designed candidate, Insilico Medicine’s INS018_055, produced positive topline results in a Phase I clinical trial for the treatment of idiopathic pulmonary fibrosis (IPF). In addition to working with AI technology providers, pharmaceutical companies are also working on vertical integration. For example, BioNTech has agreed to acquire UK AI startup InstaDeep for up to $682 million.
AI is still in its early stages of growth, but the potential is immense. AI will continue to evolve over time as more pharmaceutical companies use AI technology to enhance processes within their value chains. This technology will continue to gain momentum, with greater adoption expected for the foreseeable future.
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