Abstract
Artificial intelligence (AI) falls under the purview of computer technology, which analyzes complex data and helps solve problems in different segments. Big Data, Machine Learning, and AI are currently being used by the major pharmaceutical industries to minimize time and costs and increase possibilities. Artificial intelligence is used in the pharmaceutical industry in diverse ways, such as drug discovery and development, clinical trials, disease diagnosis, and different stages in pharmaceutical manufacturing, data analysis, and supply management. Most of the cost and time are involved in drug discovery and clinical trials. Artificial intelligence can minimize human error in data processing, documentation, data integrity issues, and data selection throughout the journey. It works in descriptive, diagnostic, predictive, and prescriptive mode. Major pharmaceutical conglomerates like Pfizer, Roche, Novartis, and Johnson & Johnson have already applied Artificial Intelligence in different segments of pharmaceutical and medicinal science. Tech companies like IBM Watson, Catalia Health, Intel, Microsoft, and Google, in collaboration with pharmaceutical companies, are working in the different areas of drug discovery, early diagnosis, and personalized medicine. Further, AI finds application in the health sector for data management, scanning and evaluation of medical history reports, and finding optimum treatment strategies for chronic care patients. Though lots of research and development are being done on the utilization of artificial intelligence in the pharmaceutical industry, it is still in the nascent stage. This article is our endeavor to study, in detail, the present and future opportunities of machine learning and AI in the pharmaceutical industry as a whole.
