The Gains and Pains of Using AI in the Pharmaceutical Industry
HIT Consultant
OCTOBER 25, 2022
Michael Galarnyk, AI Evangelist at cnvrg.io. The costs for drug discovery and development are skyrocketing, but AI (artificial intelligence) is introducing new efficiencies to help find effective treatments faster. A study in 2020 concluded that the estimated median capitalized research and development cost per product was $985 million. Contributing factors to this included larger trial sizes, the need to assess health technology, the requirement to provide data on comparative drugs’ effectiven
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