AI’s Attention Span
Developments in the world of artificial intelligence continue to accelerate at a rapid pace. Our November issue of Pharmaceutical Executive explores a few of those that are starting to deliver measurable gains for the industry.
Our coverage here at Pharmaceutical Executive has been all over the rise of artificial intelligence (AI) in life sciences and healthcare for the last couple years or so. Our November issue is no exception. But, as mentioned on this page before, our focus is on advancing the discussion and information as much as possible. We want to chronicle for you, our reader, the developments, innovations, and new strategies that are stretching the field beyond the hype and into the realm of practical application internally, for your operations, and in changing medicine and patient care.
Offering such value, we hope, is the slate of various tech and AI-focused content featured in this month’s issue. That includes our Executive Profile, where editor Mike Hollan spoke with Noam Solomon, CEO and co-founder of Immunai, a biotech that specializes in combining machine learning and biology to transform efforts in oncology . The company, notably, has a partnership with AstraZeneca. And leading off a trio of features in our technology-themed section is a guest piece from leaders with Sanofi and Aily Labs, an AI software company, on leveraging “enterprise AI” in daily pharma practice to deliver savings and efficiency gains “that are impossible through traditional methods.”
“C-suite pharma executives must champion large-scale AI adoption at scale and build a clear roadmap for democratizing this technology enterprise-wide,” the authors write.
The article details, via a use case, AI’s ability to provide “decision intelligence” by aggregating massive and complex data points into “bite-size” insights. Info can then be extracted to help predict such value drivers as R&D costs, clinical trial enrollment timelines, and a program’s probability of success. Those are just a few examples. The authors note that the intention of these tools is to integrate across business functions—with the goal of breaking down silos and offering a “360-degree operational view.”
As far as measurable gains for industry so far, according to the authors, AI initiatives at Sanofi have translated to $300 million in savings by predicting and mitigating 80% of low inventory risks. Broadly, as well, they cite a PwC report that finds that pharma companies that adopt AI across their organizations have the potential to double their operating profits and gain an additional $254 billion in those profits globally by 2030.
AI developments until then will likely continue to be fast and furious. We look forward to sharing the ones that matter most with you. Thanks for reading.
Mike Hennessy Jr. is President and CEO of MJH Life Sciences
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