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Technological Edge in Life Science Sector
The Next Big Thing in Pharma and Life sciences industry
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The Next Big Thing in Pharma and Life Sciences Industry
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David Chou, VP/Chief Information & Digital Officer, Children's Mercy Kansas City
AI in Life Sciences: Accelerating Smart Drug Discovery
AI applications in healthcare are many that can transform key sectors such as drug discovery. Machine learning, with its capacity to ultimately exceed the intelligence level of human beings, is the most important aspect of AI that many pharmaceutical companies need today. Increasing AI investments in the discovery of medicines by large pharmacies show that machine learning can be used to identify possible candidates for drugs and to screen them.
GlobalData, a data analytics and media company, highlights the importance of data scientists and developers monitoring their systems performance and taking steps to adjust or train the system to prevent a repetition of mistakes, such as security violations. In other words, GlobalData predicts that AI will transform the process of drug discovery.
Businesses in the life sciences are making steps in the fields of gene and cell therapy, omics technologies (genomic, transcriptomic, proteomic, and metabolomic) and clever molecules, creating an urgent need for advanced, cost-effective, and time-effective technologies to parse large databases to develop innovative treatments, according to the Frost & Sullivan report, 'Artificial Intelligence Revolutionizing the Pharmaceutical Industry.'
The report presents the roadmap for technology in the pharmaceutical industry, trends, capacity and applications driven by artificial intelligence (AI). It includes the activities of the stakeholders, as well as the initiatives of the industry and analyzes investments, regional and global regulatory environment and standardization approaches to address challenges.
AI-driven tools encourage companies to develop a treatment for underserved areas and also pave the way for precision medicine by means of a method of discovery and development for stratified therapeutics. AI-based technology companies can utilize scientific results and synergy learning systems for therapeutic, diagnostic, and theranostic developments to be translated into success. AI's significant applications in pharmaceuticals are Drug development, Clinical trials, Candidates' validation, Precision medicine, and Regulatory approval.
There are tremendous opportunities in medicine if AI technology can be developed further. A genuine AI technology might be like a human intellect, but much more capable, keeping the entire system of human biology and disease biology in its 'mind' alongside all the science literary information. Both of these resources could be used to find the best treatment for a disease or health issue.