2023-04-21 19:00:01
- Within the pharmaceutical industry, Artificial Intelligence helps reduce research costs and therefore the failure rates in clinical trials.
- Traditionally, the development of new drugs can take up to 12 years.
- Instead, currently that process can be 21 days thanks to the use of Big Data.
Technology is a powerful ally of the pharmaceutical industry. Thanks to innovations, it has been possible to develop new equipment that is useful for health professionals. At the same time, Artificial Intelligence is a multifunctional tool that has given way to express drugs.
In relation to technological advances, we currently have a large amount of data and the need to structure intelligent processes for a more efficient, agile and safe management.
In this regard, it is worth noting the pharmaceutical industry as one of the verticals that has grown the most in recent years. That is why, a great ally of this sector is the Artificial intelligencewhich has made it possible to speed up drug discovery and development processes, in addition to reducing research costs and failure rates in clinical trials.
Reduction in process times to achieve express medications
According to Dimasi, et al., in their article “The price of innovation”, published in the Journal of Health Economics (2016), a complete drug development process can take up to 12 years and cost between 1.9 and 3.2 billion dollars. Instead, today, thanks to Artificial Intelligence, there are startups that have managed to design express medicines in just 21 days.
According to Jorge Linares, Chief Revenue Officer of Nubiral, a company specializing in innovation and digital transformation, it also helps to reduce costs and maximize performance.
“In changing and volatile environments like the one we are going through, we can no longer blindly trust traditional models, so this is the time to renew ourselves and implement changes. The capacity for research and continuous learning, as well as flexibility and adaptability, are among the most valued and fundamental skills to face this incessant new normality”.
It has been shown that Artificial Intelligence allows the implementation of automatic processes from the use of Big Data in a fast and efficient way, combining algorithms and solving complex operations. Its use in the health sector is quite positive and its advantages impact both pharmaceutical companies and society in general.
In a business context, when talking about changes, what differentiates a good player from the rest is information and data management on which to build and leverage new processes.
Data-driven companies are one step ahead in this new scenario, since their analytical capacity allows them to warn in advance what is happening and restructure. However, this cannot be done without the support of data and without the internal and external knowledge to draw up your plans.
Vaccines in record time, a new technological achievement
In less than a year, the world managed to get a COVID-19 vaccine Thanks to process innovation and the use of new technologies, having the opportunity to take advantage of data, reduce experimentation and achieve progress in much shorter time frames.
The pharmaceutical industry has found tremendous opportunity in a host of applications ranging from new drug discovery and precision medicine to clinical decision support.
We are seeing more and more organizations joining digitization and betting on the Artificial intelligencepositioning itself as industry leaders, and implementing innovative developments in the field of health, thus charting a path to obtain greater benefits and higher quality of service in the coming years.
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