- The report is based on the insights from 250 global pharmaceutical companies and predicts that AI will transform every area of the industry, from drug discovery to drug manufacturing, within the next two years.
- The report also forecasts that by 2030, more than half of the drugs approved by the US Food and Drug Administration (FDA) will involve AI in their development and/or manufacturing.
- The report reveals that pharmaceutical AI companies have become the most appealing investment option for venture capital, surpassing late stage and early stage biotechs.
- The report identifies several applications of AI in the pharmaceutical industry, such as manufacturing optimisation, regulatory submissions, clinical trial design, patient recruitment, and target discovery.
- The report highlights the potential benefits of AI for improving health outcomes, reducing costs, and accelerating innovation. However, it also acknowledges the risks and limitations of AI, such as ethical issues, data quality, and regulatory challenges.