There is significant anticipation that Artificial Intelligence or “AI” will revolutionize the paradigm and economics of drug discovery. The gamut of diseases that await next generation drug discovery cover the spectrum from Cancers to Parkinson’s to Alzheimer’s and other diseases. Drug discovery and the pace of innovation are neither scalable nor practically viable, where we require $2.7 B and 14 years on average to develop a single new drug (Study by US FDA and Tufts University). Less than 10 percent of potential drugs researched actually make it to market. The pharmaceutical industry today needs a much more optimized, scalable, and cost effective way of bring new drugs to market. AI is the technology that holds tremendous hope and expectation for providing this today.
“Nearly all big tech companies have an artificial intelligence project, and they are willing to pay experts millions of dollars to help get it done.” – The NY Times
The NY Times recently wrote about the lack of AI (Artificial Intelligence) talent (data scientists):
“Tech’s biggest companies are placing their future on artificial intelligence… As they chase this future, they are doling out salaries that are startling even in an industry that has never been shy about lavishing a fortune on its top talent… Solving tough A.I. problems is not like building the flavor-of-the-month smartphone app. In the entire world, fewer than 10,000 people have the skills necessary to tackle serious artificial intelligence research” - New York Times 22 October 2017.