According to Chairman Sanjeev Nanda, pharma and biotech companies are gradually discovering value in AI, and are using these technological innovations to drive change in every aspect of pharmaceutical production.
The emergence of new technologies is taking the world by storm, and pharmaceutical sector is no different. Innovating concepts, especially Artificial Intelligence (AI), Machine Learning (ML) and Natural Language Processing (NLP) have been making positive strides in the pharmaceuticals research, development as well as manufacturing.
We talked to Sanjeev Nanda, Chairman & MD of Pharm Aid LTD, to seek some insights into the implications of AI in pharma sector. According to Nanda, pharma and biotech companies are gradually discovering value in AI, and are using these technological innovations to drive change in every aspect of pharmaceutical production.
“Incorporating AI, machine learning and NLP in the research and development processes are bringing out great results. Also, since AI keeps improving itself and becomes smarter while it processes large chunks of data, the results continue to improve as well. There are numerous ways in which AI can enhance efficiencies across the wide array of pharma activities,” said Sanjeev Nanda.
He continued, “Latest technologies such as AI and machine learning also help in reducing time to insight, and in turn decrease the time to market. This enhanced efficacy in the production chain ultimately leads to an improved healthcare system for people in need of life-improving or life-saving treatments.”
Sanjeev Nanda’s insights hold solid ground. Several researchers have pointed out in their reports that the involvement of AI in pharma processes is helping in quicker identifications of drugs, suggestions for chemical modifications, finding good molecules from data libraries, identification of candidates for repurposing, etc.
When it comes to manufacturing processes, AI is reducing the waste generation, increasing quality control efficiency, and improving fluidity within the supply chain. Along with this, the latest technologies are also helping in superior diagnosis, monitoring and prevention of various ailments through enhanced image analysis.
“The use of AI in pharma sector can also help in increase customer understanding. The technology is slowly taking out the guesswork out of marketing activities. This in turn will allow pharma manufacturers to screen the most effective tactics from the lesser effective ones used in past campaigns. The result will be a robust marketing ecosystem where companies know what is influencing the customer at each stage,” said Sanjeev Nanda.