Drug makers have embraced artificial intelligence and machine learning (AI/ML) for discovering and developing new drugs, but it requires significant investment. A recent report from Accenture aims to quantify the advantages, including cutting down on cycle times and costs, and suggests these efficiencies could shave four years off of development time.
The consulting firm conducted a survey of 75 research and development executives from the top 20 biopharma companies by annual revenue
Key Takeaways
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A report by Accenture found that the overwhelming majority of 75 R&D executives consider artificial intelligence and machine learning crucial to their companies’ success.
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Using AI/ML could reduce the cost of bringing a drug to market by 35%-45% and add $2bn to revenue
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