Artificial Intelligence: Continuing to revolutionise the life sciences value chain

Artificial intelligence (AI) has transformed the life sciences industry in ways that we could never have imagined. Recognising the potential benefits, industry leaders across the world have increased investment in AI, with the global AI healthcare market expected to grow from US$4.9 billion in 2020 to US$45.2 billion by 2026. The COVID-19 pandemic has further intensified focus on the application of AI across the entire value chain. While companies from all industries adapted to the "new normal" of daily remote collaboration and AI technologies, life science companies also leaned more heavily into the use of AI in their mainstay work of drug and medicine development and marketing. The development and bringing to market of COVID-19 vaccines in less than a year is testament to the power of AI, as well as the remarkable collaboration of industry stakeholders. Post-pandemic, there is no doubt that the industry is primed to harness new ways of working with new technologies.