The news: Pfizer renewed an agreement with technology platform CytoReason to apply AI to drug discovery and development.
How we got here: Pfizer and CytoReason inked a deal in January 2019 to leverage CytoReason’s platform for cell-based models of the immune system. Pfizer has used CytoReason’s AI technology to develop new drugs for immune-mediated and immuno-oncology diseases.
How it works: CytoReason’s computational modeling technology helps scientists gain a better understanding of the immune system and develop new targets for drug development.
Here's why it matters: Pharma companies use AI to reduce the time and money spent on drug R&D. The drug discovery process is so long that many compounds fail to move from clinical trials to commercialization.
Trendspotting: The healthcare industry is growing more comfortable with AI.
What’s next? Big names in pharma will continue to invest in AI to gain efficiencies in money and time as well as address hiring difficulties in launching AI projects.
AI could also continue aiding pharma companies with personalized medicine, in which they make informed decisions on which drugs are right to develop for patients. AI insights, particularly from machine learning, help scientists better understand patients’ conditions.
This article originally appeared in Insider Intelligence's Digital Health Briefing—a daily recap of top stories reshaping the healthcare industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.