Artificial Intelligence Set to Transform the Pharmaceutical Industry

The pharmaceuticals industry got a boost last year when a Covid-19 vaccine was introduced, but artificial intelligence (AI) could keep the sector and ETFs like the VanEck Vectors Pharmaceutical ETF (PPH) going. AI technology is making its way into a number of industries, including pharmaceuticals. With transformative solutions like AI paving the way for reduced costs and improved therapies, the sky's the limit for the pharma industry. "The search for novel therapies has long been a trial-and-error process that costs drug companies a vast amount of time and money," a Pharmaceutical Technology article said. "Now, with artificial intelligence (AI) set to transform the pharmaceutical industry more than any other emerging technology, a growing number of pharma and biotech groups are harnessing the cutting-edge tech to minimise the hit-and-miss nature of R&D and discover new therapies with previously impossible speed and accuracy."