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Future of Pharma and RELX Reports Highlight Importance of Tech
Posted on January 29th, 2021 by Ann-Marie Roche in Pharma R&D
Innovation in pharmaceutical R&D is inextricably tied to technological advancement. Two recently-released reports further highlight how much success in pharma is now being driven by groundbreaking tech.
AI in R&D
The Future of Pharmaceuticals report, published in The Times’ Raconteur supplement, features a piece on “Five ways tech is changing pharma” that includes mention of the datathon that Elsevier co-sponsored with The Pistoia Alliance last year. This event, which invited scientists from around the globe to take part in a mass research effort, identified drug candidates for chronic pancreatitis. The endeavor was made possible by applying AI and machine learning techniques using Elsevier’s Entellect, a powerful data integration platform.
Additionally, the report has interesting features on the journey towards gender parity in pharma senior leadership, the role of psychedelics in managing mental health disorders, exploring pharmaceutical treatments for weight loss, how the anti-vax movement could complicate the Covid vaccine roll-out, the post-Brexit future of pharma, and tapping into the $100 billion dollar digital opportunity in pharma.
No AI investment without quality data
Meanwhile, the RELX Emerging Tech Executive Report 2020 affirms the key role of AI, across industries, revealing that 68% of U.S. businesses have increased their investment in AI technologies. “The use of AI is viewed as a key competitive differentiator and 60% of those who say their company utilizes these technologies have increased their data scientist and technologist headcount to support these technologies,” states the report.
The RELX report also notes that more than half of the respondents to its survey agree that an increase in AI investment demands improved data quality and availability, as well as better understanding of the regulatory implications in the adoption of such technologies.
In looking at both reports, it’s clear that AI and related technologies have the potential to accelerate pharmaceutical research and innovation – but clean, findable data and learning are key to realizing that potential. Pharma companies are increasingly turning to Elsevier’s Life Sciences solutions to provide that information and expertise.
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