AI/ML Efficiency Gains Could Add Billions To Drug Revenues, Report Finds

A report from Accenture, based on interviews with 75 R&D execs from large biopharma companies, found adopting the technology could cut costs by up to 45%.

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...