Artificial Intelligence simply known as AI, is a rapidly growing technology that finds applications and use cases in all aspects of businesses. AI is one of the smartest technology which helps the industry to become smart and advanced. Every industry is benefiting heavily from AI for better management, production and customer experience. Artificial Intelligence has gone beyond our thinking and day by day it is bringing new innovations and advancements in every field. Because of this, the government and industrialists are investing more in artificial intelligence. According to the Tractica report, the global artificial intelligence software market is projected to grow from $10.1 billion in 2018 to $126 billion by 2025. Through this prediction, you can anticipate the increasing demand for AI in the near future.
Apart from AI introduction, if we talk about the roles of Artificial Intelligence in the pharmaceutical industry then we came to know that the pharmaceutical industry has completely changed than before and the impact of Artificial Intelligence is undeniable. The pharmaceutical industry is already finding innovative and smart ways to use this technology to solve some of the key issues facing the pharma sector. Many pharmaceutical companies around the world have started using AI in their business. AI can be applied to almost every area of the pharmaceutical business, from drug discovery and development to production and marketing. Pharmaceutical companies can make all business processes efficient, cost-effective and hassle-free by leveraging and integrating AI systems into key workflows. By developing new and existing business models, artificial intelligence develops the value proposition of pharmaceutical companies. Artificial intelligence can not only be beneficial for treating patients and offer care solutions, but it can also adapt to the industry.
Here we discuss the major role of Artificial Intelligence in the pharmaceutical industry:
Research & Development
Pharmaceutical companies around the world are developing advanced AI-powered algorithms to streamline the process of drug innovation. In large datasets, these technical tools are designed to detect complex patterns, and therefore, can be used to solve problems related to complex biological networks. This technology can help to identify and understand the patterns of different diseases and to identify which drug formulation is better suited to treat a particular type of disease. Pharmaceutical companies must invest in the research and development of drugs that are likely to effectively cure a disease or medical condition.
Diagnosis
Clinicians can use advanced machine learning systems to collect, process, and analyze patient health care data. Healthcare professionals are using deep learning and AI to securely store patient data in centralized database systems or in the cloud. This is known as EMR (Electronic Medical Records). Physicians use these records to understand how specific genetic traits can impact a patient's health or how new drugs can improve that patient's health. They can also get clear information about diseases and recommend the most suitable drugs for treatment. Such electronic health notes save time and expense.
Drug discovery and design
AI plays a role in drug target identification and validation, target-based, phenotypic, and multi-target drug discoveries, drug repurposing, and biomarker identification, from the design of new molecules to the identification of novel biological targets. The major advantage for the pharma industry is the potential of AI, especially when implemented during drug trials, to reduce the time taken for a drug to be approved and reached the market. This would result in significant cost savings, which could mean more treatment options as well as lower cost drugs for patients.
During the process, where various biomedical data are generated, new patterns in that information can be easily identified by artificial intelligence and all these types of data can be analyzed using AI and subsequently drug discovery. Can be used to create unconventional solutions for
Identification of clinical trial candidates
Healthcare organizations can extract appropriate EMR data with Artificial Intelligence to go through physician notes. The information collected can later be used to determine the right patients for the testing process. Artificial intelligence not only helps in understanding clinical trial data but also helps the pharmaceutical industry to find patients to participate in clinical trials. The AI will analyze genetic data to assess the appropriate patient population for clinical trials and to identify an appropriate sample size. This technology can read free-form text that patients enter into clinical trial applications
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