One of the main objectives of the pharmaceutical industry is to develop new drugs that provide greater efficiency at a reduced cost. To achieve this, companies in this sector are committed to new technologies such as artificial intelligence, big data and the internet of things (IoT) in the drug development process.
AI or artificial intelligence is revolutionising drug development, something we can see today with new solutions against Covid-19, for example.
Why apply artificial intelligence to drug development?
The development phases of a drug are spread over long periods of time, many of themreaching up to eight years of development before the drug is marketed. These long development cycles mean that research and development costs are very high and the final price of drugs increases considerably.
Artificial intelligence comes to solve this and other problems related to drug development in the pharmaceutical industry. With intelligent data analytics, better decisions can be made and drug development time can be shortened through the use of complex and sophisticated algorithms.
The development of artificial intelligence in recent years has been truly spectacular and its application in different industries and sectors, such as the healthcare sector, has had a great positive impact.
AI is essential today for the development of more efficient medicines in a shorter time, reducing costs considerably, allowing companies in the sector to offer better drug products and to invest in the development of a wider range of medicines.
Application of artificial intelligence in the pharmaceutical industry
The pharmaceutical sector today relies on AI, big data and other new technologies to accelerate drug development and achieve safer, higher quality products at a lower cost.
Let's take a look at some of the applications and benefits of using artificial intelligence in companies in the regulated sector.
Reducing drug development time
Predicting the behaviour of certain molecules and analysing the chances that they could lead to a new drug is one of the most interesting applications of artificial intelligence in the pharmaceutical sector. AI makes this whole process faster and more efficient, significantly shortening the time it takes for a drug to finally reach the patient.
Reducing the number of errors
In the drug development process, many tests and trials are carried out to evaluate the performance and efficiency of the drug. These tasks are the most time-consuming and resource-intensive in the process of drug discovery.
Artificial intelligence reduces the number of errors made in drug development testing, helping to speed up the whole process and reduce the associated costs.
Therapeutic target selection
Artificial intelligence helps to reduce failure rates in clinical trials, particularly in optimising optimal candidates for trials. It is estimated that the early phase of drug development can be reduced from years to months by applying artificial intelligence.
Intelligent data analysis
In the scientific world, and especially in the health sector, the amount of existing documents is truly overwhelming (clinical trials, patents, scientific papers...). Big data and artificial intelligence are new technologies capable of efficiently and quickly analysing this large volume of unstructured information, which facilitates the process of developing new medicines.
For example, thanks to the application of this technology, two possible treatments for a complex and lethal disease such as ALS have recently been found.
It is easy to understand the high cost of developing a new drug. In a process where error and failure rates are very high, making small gains saves a lot of money, making drug development projects much more cost-effective.
Artificial intelligence applied to drug development is driving down costs considerably, helping companies in the sector to get a better return on their investments and to be able to tackle more projects simultaneously.
Artificial intelligence is having a major impact on, with labs and pharma companies around the world turning to this new technology to speed up their processes, minimise errors, reduce costs, and deliver higher quality drugs in less time to patients.
Using artificial intelligence tools such as our product AyGLOO XAI is a great alternative to implement an AI model in your business, so you can benefit from all the advantages offered by this new technology.