The changing paradigms of pharma with new age technology
It would not be an understatement to say that the gradual advancements in technology have taken the world by storm. May it be industries or education or any other walk of life, the influence of technological innovations can be seen and felt everywhere. The pharmaceuticals industry is no different. In fact, the impact of newly emerging tech concepts is more evident in the sector, since it has traditionally relied heavily on tech and innovation.
In the recent years, new age technologies such as Machine Learning (ML), Artificial Intelligence (AI), Natural Language Processing (NLP), etc. have registered a phenomenal growth especially when it comes to assisting research, development and manufacturing processes in pharmaceutical sector. The pandemic and the global healthcare crisis that ensued made the involvement of tech innovation all the more imperative.
What makes the involvement of new technologies in pharma operations an even better idea is the fact that these technologies keep improving themselves over time. This holds especially true in case of AI, that keeps becoming smarter as it processes bigger and bigger chunks of data. This in turn helps enhance operational efficiency across a wide range of activities, and by extension it also improves the results.
Another most important way machine learning and artificial intelligence are changing the pharma arena includes is by ensuring a decrease in time to insight and in turn reducing time to market. The enhanced efficiency that drives the production chain also results in a more efficient healthcare system for people who are in dire need of lifesaving or life-improving treatments that are designed in a way that caters to specific needs.
Staying abreast of the latest and upcoming tech trends in the industry, several pharma and biotech companies are acknowledging the value in adopting concepts like AI in a bid to transform every aspect of pharma business. This interest is rightly directed, since the incorporation of ML, AI and NLP are changing the existing paradigms of the sector by bringing out never seen before results in conceptualization as well as materialization.
The claims of efficiency by new age technologies are backed by research. Several reports indicate that the involvement of tech innovation in pharma processes results in better suggestions for chemical modifications, quicker identification of desired drug combinations, segregation of good molecules, finalization of the degrees of repurposing, etc. On the manufacturing front, AI can help reduce waste generation and make the supply chain more fluid. The end result will be a robust pharma infrastructure where companies are able to create better solutions.