Here’s What People Are Saying…
ChatGPT is revolutionizing the pharmaceutical industry. Artificial intelligence and machine learning are expediting medication development, tailoring drug distribution, and improving the process of drug commercialization. Big pharma companies like Pfizer, Merck & Co., and GSK are all currently investing in AI technologies, with the industry’s AI spending expected to reach $3 billion by 2025.
AI has significantly transformed healthcare and pharmaceutical sectors, making care more patient-centric and personalizing therapy through detailed data analysis. This technology plays a vital role in anticipating patient concerns and facilitating doctors in addressing them more effectively. AI is an invaluable tool in overseeing Real-World Evidence (RWE), enhancing the efficiency, breadth, and accuracy of monitoring pharmaceutical products’ effects in the commercial market, which is crucial in value-based contracting and influences the creation of new drugs.
Significant success has been achieved in drug discovery and development through AI, with AI-aided clinical trials and AI-designed medications in progress. Moreover, AI facilitates the repurposing of existing drugs for new condition treatments. In the fields of sales and marketing, AI ensures the provision of accurate information about medications, thus improving their alignment with patients and healthcare providers. It offers a more targeted approach by providing real-time data on physicians, enabling reach to smaller, previously ignored medical practices, and optimizing resource allocation.
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[Source: PharmExec.com, July 10th, 2023]