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Artificial intelligence & the pharma industry

ARTIFICIAL INTELLIGENCE AND THE PHARMA INDUSTRY

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ARTIFICIAL INTELLIGENCE AND THE PHARMA INDUSTRY

"Artificial intelligence is the wings to drive a business to a great business" – Quote by Sandeep Singh, Delhi based entrepreneur.

As we all know by now, Artificial Intelligence is here to stay and an integral part of our lives as we move along in the 21st century. AI and machine learning have changed the way businesses and firms run their business. In this blog, we shall look at how AI is bringing about changes in one particular industry – the pharmaceutical industry, which has a major strength in the west and south of India. All our big pharma companies are located in these two regions including some of the MNCs such as Cipla and Lupin in Maharashtra, Cadila in Gujarat, and Dr. Reddy's Lab in Telengana.

The key to the change is data, accurate and up to date data which can help pharma industries to streamline work and optimise performance with AI, computing, and other tech changes. The investment must be made in ensuring clean data is with the company to leverage the power of AI. The coming together of AI and pharma industry portends a great future for mankind.  Below we look at some ways that AI is changing the pharma industry for the betterment of all of us.

Some ways that AI is changing the pharma industry is:

  • Fastening drug discovery which is especially useful in this COVID-19 era

  • Streamline clinical trials for new inventions

  • Aid improvements in clinical processes

  • AI aided data collection helps with translational research and understanding of various diseases and their progress

  • Determining the pricing of various products to be launched in the market

  • Managing drug labels and ensuring mandatory legal compliances

  • Improvement in sales and marketing department performance with data-driven work.

  • Improvement in supply chain and delivery mechanisms

  • Customer engagement, feedback and readdress mechanism

  • Focused and relevant messaging to physicians, hospitals, and clients for digital marketing

AS you can see, AI and wholesome data are game-changers for the pharma industry and works to their advantages. The difference between doing well and exceptionally well is the use of tech, AI, and other innovative solutions available in the 21st century.  An example of the two coming together is BASF collaborating with MIT to develop software for automating small molecule discovery and synthesis.  Another is of Bayer with Exscientia in a partnership that focuses on creating bispecific small molecule immuno-oncology therapies.  The list is long, amazing, and incredible to read.

If you wish to bring some zing into your pharma business, get in touch with us for a one on one consultation.

 

About the Author

author
RS Maan

Maan joined Salesforce Ecosystem in 2008 with entry of Salesforce in APAC region. He worked on many of the underlying Salesforce Products & it’s functionality, including Heroku, Chatbots, and Einstein before leading Codleo Consulting - Leading Partner of Salesforce.com & Salesforce.org. In his spare time, he immerses himself in travel, books and spirituality.

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