Artificial Intelligence in life sciences: why are we lagging behind in AI adoption?

Compared to other industries, in life sciences putting a new product to market is nothing short of a miracle, as it comes with extremely high costs and risk. It is estimated that getting a drug to market bears a cost in excess of $2 billion, with approximatively 60% linked to clinical development. It takes around 15 years to develop a new potential treatment, with no certainty of it ever getting to patients. The attrition rate is extremely high, with an estimated 15% of potential drugs in development successfully reaching the launch phase. To reduce the cost and increase the probability of success, life sciences would seem a model industry to benefit from the implementation of artificial intelligence tools -- and yet as an industry we are still lagging behind others in taking advantage of the benefits of advanced AI. Why? Let's get back to some basics.