The landscape of the pharmaceutical industry is rapidly evolving. Declining R&D productivity, the looming threat of patent expirations and the increasing scrutiny of regulators like the FDA and EMA are forcing companies to rethink their strategies.
Amid these challenges, Artificial Intelligence (AI) is poised to deliver significant value to the pharma industry. From the lab to the market, AI is ready to revolutionise how we discover, develop and deliver medicines.
Let’s explore how this transformative technology is reshaping the pharma industry:
R&D
● Accelerated drug discovery: AI can identify promising drug candidates by predicting molecular properties, generating novel molecules and assisting in preclinical testing.
● Enhanced decision-making: AI can help researchers summarise scientific literature, select the most promising indications for drug candidates and identify optimal patient populations and trial sites.
● Improved trial efficiency: AI can track site performance, identify early warning signals and automate documentation and reporting.
Medical and Regulatory
● Faster approvals: AI can help pharma companies monitor evolving regulatory landscapes and automate regulatory submissions.
● Improved medical communication: AI can assist MSLs in developing more effective and personalised communication strategies. Also, it can provide more insights from MSL interactions.
Manufacturing and Supply Chain
● Optimised sourcing: AI can streamline sourcing processes by generating requests for proposals (RFPs), purchase orders (POs) and invoices while recommending the most suitable sourcing partners and optimising negotiations.
● Enhanced manufacturing: AI can improve manufacturing processes through predictive maintenance, deviation management and adherence to Good Manufacturing Practices (GMP).
● Supply chain visibility: AI-powered ‘control towers’ can provide end-to-end supply chain transparency, optimise cash flow and improve overall service levels.
Commercialisation
● Targeted marketing: AI can identify the most relevant Healthcare Professionals (HCPs) and patients for each brand and personalise engagement through optimal channels.
● Optimized spending: AI can help companies select the most effective marketing channels and develop the right pricing strategies.
● Improved sales and marketing: AI can optimise sales efforts, provide targeted training and assist with customer service.
● Enhanced patient experience: AI can personalise patient support programs and streamline medical and legal reviews.
A plan to implement AI successfully
A successful AI implementation requires a well-defined strategy, including:
A clear roadmap with prioritised use cases based on value and complexity and a phased approach to experimentation.
Robust data infrastructure, a skilled AI talent pool, and the right technology.
An effective operating model that fosters collaboration between data scientists, domain experts and business leaders.
Comprehensive training programs and effective change management strategies to ensure successful AI adoption and scaling.
How to create responsible AI?
Implementing AI responsibly is crucial. Key considerations include:
● Ensuring the security and privacy of sensitive patient data.
● Adhering to all relevant regulations and guidelines.
● Mitigating potential biases in AI models to ensure fair and equitable outcomes.
AI is not a silver bullet, but it has the potential to transform the pharmaceutical industry in profound ways. By embracing this technology responsibly and strategically, we can accelerate the discovery of new treatments, improve patient outcomes and usher in a new era of innovation in healthcare.
The author is a Senior Director of Analytics Consulting at Tiger Analytics, a global data and AI consulting firm.
The views and opinions expressed in the article are those of the author and do not reflect the official policy or position of SouthCheck.
