GenAI is set to revolutionise drug discovery by generating novel drug candidates based on researcher-provided criteria and constraints
The implementation of Generative Artificial Intelligence (GenAI) in pharma and healthcare has the potential to address the issues of high costs and poor patient experiences while enhancing efficiency and patient outcomes. With a growing focus on data-driven healthcare, GenAI is poised to significantly transform the industry, says GlobalData
Kiran Raj, Practice Head, Disruptive Tech, GlobalData comments, “GenAI is fundamentally revolutionising the healthcare scene, powering a transformative shift across the value chain. Its ability to customise multi-format content, serving everyone from pharma to patients, bestows precisely targeted communication. However, adhering to responsible AI is pivotal in building trust and managing risks within the industry.”
Saurabh Daga, Associate Project Manager, Disruptive Tech, GlobalData adds, “GenAI can streamline personalised care and guided diagnosis by synthesising key data points from patients’ medical history, family history, and lifestyle. The technology can help physicians provide more effective care at lower costs, leading to better patient outcomes.”
GlobalData’s latest Innovation Radar report, “New prescription: generative AI meets healthcare,” provides a comprehensive view of how genAI is being implemented across the pharma value chain for applications ranging from research & development, imaging & diagnostics to patient care and support.
GenAI is set to revolutionise drug discovery by generating novel drug candidates based on researcher-provided criteria and constraints. Predicting the efficacy and safety of new drug candidates and personalizing drug therapy are additional capabilities that are poised to improve patient outcomes.
Daga concludes, “While the genAI landscape is not without risks, especially in regulated industries like pharma and healthcare, there is potential for significant advancements and benefits. Challenges such as bias, discrimination, and privacy need to be mitigated through governance. It is crucial to partner with organisations that offer industry perspective and technology expertise at the intersection of responsible AI to fully leverage the potential of recent technological breakthroughs.”