BOSTON, May 07, 2019 (GLOBE NEWSWIRE) -- The pharmaceutical industry is adopting artificial intelligence (AI) on numerous fronts, from discovery and clinical development to risk assessment and safety monitoring, regulatory, and manufacturing, according to an analysis recently completed by the Tufts Center for the Study of Drug Development.
"Pharmaceutical and biotechnology companies as well as service providers now rely on AI technologies across all therapeutic areas, including most strongly for oncology, central nervous system, cardiovascular, immunology, rare diseases, and metabolic/endocrine diseases," said Mary Jo Lamberti, research assistant professor and associate director of sponsored research at Tufts CSDD, who led the analysis.
The advent of precision medicine and targeted therapies, as well as increasing demand for new treatments for rare diseases, will drive further, likely exponential, growth, she said, especially as health authorities and industry develop standard policies and a regulatory framework to address concerns such as ethical use, bias, and validation.
Despite the widespread and growing embrace of AI in drug development, lack of adequate staff skills, difficulty in adapting unstructured data, and insufficient budgets remain major challenges to adopting AI, according to Tufts CSDD.
The analysis, summarized in the May/June Tufts CSDD Impact Report, released today, found that:
The survey generated responses from 402 industry professionals working for pharmaceutical or biotechnology companies, contract research organizations, technology/data providers, and other organizations in North America (61%), Europe (23%), Asia Pacific (11%), Latin America (2%), and Rest of World (3 %).
ABOUT THE TUFTS CENTER FOR THE STUDY OF DRUG DEVELOPMENT
The Tufts Center for the Study of Drug Development (http://csdd.tufts.edu) at Tufts University provides strategic information to help drug developers, regulators, and policy makers improve the quality and efficiency of pharmaceutical development, review, and utilization. Tufts CSDD, based in Boston, conducts a wide range of in-depth analyses on pharmaceutical issues and hosts symposia, workshops, and public forums, and publishes Tufts CSDD Impact Reports, a bi-monthly newsletter providing analysis and insight into critical drug development issues.
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