Business Insights: Leveraging AI
Towards a first AI-generated FDA-approved drug? Not so fast, but a maturation in approach is underway
“Currently, human intervention is necessary to set up and interpret data, ask pertinent questions, and gather necessary information for an Investigational New Drug (IND) application. The current system does not facilitate a completely AI-driven process from discovery to clinical trial without human involvement. Instead of waiting decades for the benefits of clinical data, I believe AI should expedite the process to deliver actionable insights within five years.”
Karen Lackey, CEO, X-Chem
“Artificial intelligence is undeniably significant in the current market landscape. We are actively considering how it can augment our efforts in drug development and bolster our pipeline. We are particularly seeing its potential in target identification, especially concerning synthetic domains and optimized targets. The key is to judiciously integrate AI where it adds value.”
Aileen Fernandes, Chief Business Officer, Arcellx
“The trend of large biopharma firms actively investing in AI to optimize their lead candidate is underway. We witnessed significant investments in 2023, and this momentum continues into this year, both in the US and Europe. Notably, these investments are now more targeted and focused. This shift signifies a maturation in approach, where companies are strategically allocating resources.”
Rajiv Anand, Founder and CEO, Quartic.ai
“I would describe 2023 as the year of GenAI, with widespread adoption and discussion surrounding its potential across all levels of organizations. By harnessing the power of AI, pharmaceutical companies can streamline drug discovery and development processes, optimize clinical trial outcomes, and ultimately deliver better treatments to patients.”
Rohit Vashisht, Co-Founder and CEO, WhizAI
“Our unique position enables us to explore AI applications in supply chain data analytics, embedding within products, and enhancing customer interactions. It is not just about embracing the trend but ensuring that AI adds genuine value.”
Sreedhar Patnala, VP Digital Products, Systech/Dover Digital