💊 Big Pharma makes big bets on AI in healthcare
PLUS: Graft teaches you how to assemble your own AI apps
Martin Crowley & Arturo Ferreira
September 25, 2023
Premium // Sponsorship // Consulting
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Today:
A deep dive into how big pharma is embracing AI
Read Time: 4 minutes
Our Report: A recent report by Reuters shows Global pharmaceutical companies are harnessing AI to expedite clinical trials and economize on development, potentially shaving off two years from the drug development timeline for each drug.
🔑 Key Points:
Companies like Amgen, Bayer, and Novartis are at the forefront, harnessing AI to scrutinize billions of public health records to identify potential trial participants, significantly reducing recruitment time.
Bayer utilized AI to decrease the participant count in a crucial trial, linking mid-stage trial data with real-world data to evaluate long-term risks. Similarly, Amgen envisions shaving off two years from the drug development timeline using the same method.
Notably, signaling a larger industry trend, the FDA reported around 300 AI-incorporated healthcare applications from 2016 through 2022, with 90% of these coming in the last two years.
Whilst developments are largely positive, the reliability of the data used in training AI is concerning, as only a mere 25% of health data is publicly accessible for research.
🤨 Why you should care: The emerging collaboration between AI and pharmaceuticals is set to transform clinical trials, enabling quicker and more cost-effective delivery of lifesaving drugs to the market. As illustrated in last week’s feature on the Zuckerberg Chan Initiative, the potential impact of AI in healthcare is poised to be profound.
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California Governor Newsom vetoed a bill aimed at restricting the operation of autonomous heavy-duty trucks, delivering a sigh of relief to companies pioneering autonomous hauling technology.
This bill mandated the presence of a human driver in autonomous trucks weighing over 10,001 pounds, citing safety and job preservation as the primary motives. The unfolding of this situation will establish a precedent for future regulations concerning the integration of AI within the logistics and transportation sectors.
Microsoft updated its SwiftKey mobile keyboard app, introducing new AI-powered features like AI camera lenses for creative photo/video effects, AI stickers, an AI editor for improved grammar, and AI image creation.
These features, integrated alongside earlier Bing connectivity, allow users to replace their native keyboard for a more immersive, error-free typing experience. Will you be giving it a shot?
Copenhagen-based startup Corti, which provides an AI assistant to help healthcare clinicians with real-time patient assessments, raised $60M in a Series B investment round led by Prosus Ventures and Atomico.
The funds will boost Corti's mission of alleviating administrative burdens on clinicians and enhancing efficiency and accuracy in patient care. Remarkably, Corti raised the funding with a 12-page slide deck.
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Until next time, Martin & Arturo.
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