How AI will impact the Indian pharmaceutical industry
Indian pharmaceutical industry stands at the crossroads of tradition and technology, AI emerges as a transformative force poised to revolutionize drug discovery, development, and patient care. Imagine algorithms sifting through mountains of molecular data, predicting drug interactions, and customising treatments with unparalleled precision. While the use of AI is still in early stages in the Indian pharmaceutical industry, it is only a matter of time be it will be used extensively.
With the inclusion of AI, the industry could see an improvement in efficiency, reduction in costs, and better quality of products and services. Here are some of the areas where, we at Equitymaster, believe that AI could bring significant growth. AI's predictive algorithms can sift through colossal datasets, identifying potential drug candidates and simulating their behaviour.
By significantly expediting the screening process, AI reduces both the time and resources required for drug development. This transformative approach holds the potential to revolutionise the industry's efficiency and effectiveness in bringing novel drugs to market. This will ultimately benefit patients with more rapid access to life-saving treatments.
AI's ability to process and analyse individual patient data allows for the customisation of treatment plans. By considering genetic variations, lifestyle factors, and medical history, AI tailors therapies to maximise effectiveness and minimise side effects. This marks a paradigm shift towards patient-centric care, where treatments are precisely calibrated to each individual's unique physiological makeup.
Read more on livemint.com
