How Artificial Intelligence Is Transforming Biopharma (And What It Means For Marketers)
Emerging technologies like artificial intelligence (AI) and machine learning (ML) are making their mark on every aspect of our lives. Biopharmaceutical companies are beginning to leverage both technologies to offer treatments for severe illnesses. As the authorized digital transformation advisor for the Rare Advocacy Movement (RAM), I find it encouraging to see scientists experimenting with data to discover more applications for treating rare diseases.
Artificial intelligence and machine learning are two of the leading emerging technologies that are set to change the way humans live, work and make scientific advances. IBM defines AI as a technology that “leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.”
Machine learning is a subfield of AI, and both technologies are often mentioned in connection with one another. ML algorithms can not only process large volumes of data but are also able to learn from their results without further human input.
AI and ML could help biopharmaceutical companies overcome some of the challenges associated with drug research and development. By integrating these advanced approaches, the pharma industry could bring life-saving medications to the market more quickly and cost-effectively. In a recent article, consulting firm McKinsey & Company points to the potential of AI in biopharmaceutical research. The consultants highlight the slow and inefficient progress of current drug research and development.
Artificial intelligence could streamline and accelerate this process by identifying the most promising drug candidates for specific target illnesses.
Pharmaceutical companies in the United States continue to dominate the industry globally by accounting for nearly half of total pharmaceutical spending (paywall) in 2021. Further, McKinsey research shows that around the world, approximately 270 pharmaceutical companies are working in the AI-driven drug discovery industry. About 50% of those are based in the United States, with hubs emerging in Southeast Asia and Western Europe. According to McKinsey, few AI-driven companies have drug candidates in the preclinical development stages.
One company using a technology-driven approach to drug discovery is Anavex Life Sciences. Anavex is developing a drug to help Alzheimer’s patients. The company used a precision medicine approach and recently announced positive results in its Phase 2B/3 clinical trial. The company leveraged Ariana Pharma’s AI technology to illustrate the promising results of its drug.
Another forward-thinking company is pharma giant Bayer, which has strengthened its ties with healthcare technology company Huma. Together, they will “develop a machine learning model that can distinguish between different forms of non-small-cell lung carcinoma in imaging data.”
Artificial intelligence has the potential to change the way the world currently approaches medicine. Making digital technologies integral parts of drug discovery and research could enable biopharmaceutical companies to accelerate drug development. Data-driven approaches could support research into additional uses of existing drugs or those in development and bring hope to rare disease sufferers.
