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Pharma Tech Outlook | Thursday, January 30, 2020
In reality, the market volume for AI-driven medical imaging, personal AI assistants, diagnostics, drug discovery, and genomics is predicted to reach nearly 10 billion dollars in the next four years.
FREMONT, CA: In the pharmaceutical industry, productivity is declining day after day, which has grabbed the attention to re-think the way different clinical trials are designed, conceived, and executed. Artificial intelligence (AI), which is described as the simulation of human intelligence processes carried out by machines or computers, is almost on edge to renovate the industry.
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Researchers are taking a lot of interest in the AI-driven solutions that have the potential to automate methods, enhance efficiency, and enable data-driven decisions in pharma R&D. Additionally, the umbrella category of advanced analytics and AI is witnessed as the digital technology that has the most potential to enhance R&D productivity.
On the other hand, radiology and radiotherapy planning is also getting affected by AI, and the pharma industry needs to foresee further growth as the imaging technology progresses. Some companies are working on machine learning algorithms to figure out the diversities between healthy and cancerous tissues to enhance the precision of radiotherapy while narrowing down the risks to damage a healthy organ.
The development of biomarkers is considered as one of the areas in drug development where AI has broad implications. Some companies combine their expertise to recognize the molecular signatures along with the potential biomarkers for evaluating the influenza vaccine immunological response with the help of AI-driven modeling.
Besides, various applications of AI, machine learning (ML) is one of the most disruptive technologies that essentially allows the computer to learn and develop its performance automatically, based on experience, instead of being programmed continuously.
Additionally, ML carries a wide range of potential applications for elevating the clinical trials. ML can be utilized to recognize the clinical trial participants efficiently, when they are applied to the collected data, such as genetic information or electronic health records and social media data. Furthermore, companies can leverage technology to facilitate remote monitoring and real-time information access to boost safety and patient adherence. They can also establish the optimal sample size of a trial, regulate protocols for different trial sites, and lessen data errors like false entries as well. Ultimately, AI and ML have shown several potential uses in drug discovery that can combine computational medicine and advanced AI to determine and expand new drugs for chronic diseases.
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