Artificial Intelligence in the Pharma Industry: Clinical Trials

Artificial Intelligence has played an increasingly important role within the pharmaceutical space especially with recent restrictions due to COVID-19. The drug development process can be lengthy and costly but many companies have begun implementing AI into their clinical trials to speed up patient on-site visits, test efficacy and bring more drugs to market. As we discussed previously, AI has played an important role in the discovery process. Now let's take a look at AI in clinical trials… PRNewswire reports the global virtual clinical trials market size is expected to reach 11.5 billion USD by 2028 with a compound annual growth rate of 5.7% from 2021 to 2028 according to Grand View Research, Inc. The growth in the virtual clinical trial space is directly related to the need for an increase in patient diversity and an increase in the number of decentralized/virtual trials due to the impact of COVID-19.