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We, as humanity, have gone a long road in search of an understanding of AI. From the early beginning of the world’s digitalization, the mainstream media taught us that artificial intelligence is a super complicated mechanism that is supposed to cover human existence hurdles, explain the universe’s secrets, start or prevent a global cataclysm, and other significant events. The reality turned out to be more mundane: modern-day neural networks are somehow different from the AI image we are used to. Still, the impact of this technology is much more significant than most of us can think.
Of course, most people may still think that artificial intelligence is something terrible from Terminator movies rather than their daily social network feed or high art picture generator. What about more complicated cases like the medical and pharmaceutical industries? As niche becomes increasingly digitalized, usages of AI in the pharma industry grow in breadth and depth.
What is Artificial Intelligence in the Pharmaceutical Industry?
To understand the impact of AI technology, let’s talk about what kind of technologies are called “AI” in a nutshell and what they are used for. Mainly, technology specialists define three directions:
Data science algorithms are automated algorithms designed to analyze past activities and create alternative decisions. For example, it can provide a more effective treatment plan or drug combination based on the patient’s clinical data and medical history.
Machine learning algorithms are a more complicated way of decision-making analysis based on neural network analytics. It works with given datasets to predict decision consequences and categorize and classify information. This is a quick and reliable way to create marketing strategies or conduct clinical trials.
Deep learning is based on more complicated forms of learning and natural language processing, it is used for more detailed diagnosis. It can analyze sensitive images like skin conditions or radiology scans and combine received data with historical treatment outcomes or other patient-specific information to create the most suitable solution.
The Role of AI in the Pharma and Biotech Markets
AI algorithms and machine learning models have a significant impact on the biotech industry. From life-saving drugs discovery, development, and production to clinical trials, communication, and drug target identification — AI pharmaceutical is a definite game-changer.
According to The McKinsey Global Institute’s research, the influence of AI and machine learning on the pharma market generated around $100B across the US healthcare system in 2021.
Here, we are diving deep into the main aspects of AI influence.
Manufacturing Process
Maybe, the first thing that comes to mind, when talking about AI and controlling processes, is manufacturing. AI can help improve processes, which involve many people, from maintenance specialists to quality control and more.
AI tools can optimize production by taking over the most complicated functionality. It ensures that tasks will be performed very precisely. As well as providing high-quality work, it can analyze the processes, find the weak spots, improve decision making or find areas where it can be streamlined. Using AI in Pharma Marketing
Our industry is hard-wired to sales-driven factors, and digital marketing aims to develop unique marketing strategies and increase revenue and brand awareness. This is where the use of artificial intelligence changes the perception of the game and helps companies to stay on top.
Artificial intelligence in pharma industry can compare the results of past marketing campaigns to identify the most profitable ones. It helps to analyze any marketing activity and how they affect the audience to create the most efficient strategy for your subsequent customer journeys. Based on different patient outcomes and data, it can predict the success or failure of varying engagement methods within a particular campaign.
The Benefits of Artificial Intelligence for Pharma Companies
Year by year, pharma companies face more complicated challenges each time we reach another level of digitalization. As the amount of information about our daily activities and health only grows, pharma and life science industries are looking for more advanced and decision-making solutions.
The opportunity of AI technology leaves no other alternative but to join digitalization and ensure pharma’s most vital processes are in their “hands”. It will make different aspects of your pharma business more effective and innovative and optimize your resource spending.
The use of AI solutions made a significant impact on decision-making, creating innovations for patient’s health, remote patient monitoring, and conducting medical research. Also, artificial intelligence pharmaceutical automation allows your company to perform predictive maintenance and quality control of drug combinations.
There’s no sign of this trend slowing down — on the contrary, about 50 percent of global healthcare companies plan to implement AI strategies and broadly adopt the technology by 2025.