Jon Hu Forbes Councils Member
Artificial intelligence (AI) has penetrated nearly every industry, but the pharmaceutical industry could arguably benefit from AI the most. According to the results of a study performed by Insider Intelligence, AI has the potential to curb drug discovery costs for pharma companies by nearly 70%. It can do this by making accurate, more nuanced predictions about a disease or drug.
However, if the data feeding into the algorithm is bad and/or insufficient, the predictions are incorrect, and the time and cost savings won’t materialize.
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