If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Google signs a new lease in Manhattan. Amazon hangs out its shingle in Queens. Apple announces a $1 billion campus in Austin. It seems that all the tech titans are planting their flags in vibrant, educated, progressive cities. As one of the most vibrant, educated, progressive cities in the world, has Boston been left out of the latest flood of technological investment?
Artificial intelligence, automation, blockchain and other technologies driving digital transformation will fundamentally reshape how drug makers operate, from portfolio planning, drug development, direct-to-consumer marketing, to finance and other administrative functions. Technology will also drive dramatic cultural changes at these organizations - the deliberative, scientifically driven nature of these companies is well-suited to take advantage of the power of applying analytics to a multitude of data points to uncover patterns that lead to better-defined, data-driven courses of action across the organization, for executives, managers and researchers. KPMG's 2018 CEO Outlook this year found that a quarter of life sciences executives are showing positive returns from their investments in digital transformation and artificial intelligence. Another third of these CEOs expect to see ROI within a year from digital transformation programs.1 However, U.S. and global life sciences CEOs diverge about the strategic value of technological investment.
With the increasing speed of technological advancements, the pharmaceutical and healthcare industry needs to break up departmental data silos with Knowledge Graphs and AI to understand the value of their data. At PhUSE EU Connect 2018 we will introduce the innovative approach of PoolParty Semantic Suite to make the most out of your data with semantic data integration. Our partner Findwise, global experts in search-driven solutions for the pharmaceutical and healthcare industry, presents a series of four blog posts to help you understand how knowledge graphs and AI can leverage your data-driven innovation and improve healthcare outcome. We face grand societal challenges pinned down in the 17 UN sustainability goals and specifically number 3 Good Health and Well-being. Humans live a longer life, which shifts the population pyramid.
Bayer is looking to accelerate its patient safety data monitoring by using artificial intelligence in a move it hopes will allow any potential drug-related side effects to be detected much earlier. The German pharmaceutical company has tied up with professional services firm Genpact for the work, signing a multi-year agreement for its Pharmacovigilance Artificial Intelligence (PVAI) products. These will be added to Bayer's existing pharmacovigilance database and IT systems and, the firm said, will strengthen its focus on patient safety. Michael Levy, global head of pharmacovigilance for pharmaceuticals and consumer health at Bayer, said: "With Genpact, we have found a partner whose innovative capabilities in the area of applying advanced AI and machine learning technologies to pharmacovigilance provide us with an opportunity to further increase the efficiency of our pharmacovigilance operating model and case processing, while maintaining our high quality and compliance standards." Genpact said its PVAI solution, which extracts adverse event data from source documents in an automated fashion, has taken part in, and won, a number of competitive proof-of-concept trials run by large pharmaceutical companies.
Enterprise spending on artificial intelligence (AI) is increasing, with 82 percent of early adopters saying they have seen positive returns on their investment, according to a new report from professional services giant, Deloitte. Fifty-five percent of respondents said they had launched six or more pilot schemes (up from 35 percent a year ago), with 58 percent undertaking six or more full implementations (up 32 percent year on year). According to the second annual State of AI in the Enterprise report, which surveyed 1,100 US executives with early-stage AI projects, the average return on these programmes is 17 percent. Deloitte looked at four types of AI: machine learning; deep learning; natural language processing; and computer vision. Natural language systems are spearheading AI's enterprise growth, with 62 percent of the companies surveyed adopting it, up nine percent year on year.
Artificial intelligence research has a lot to learn from nature. My work links biology with computation every day, but recently the rest of the world was reminded of the connection: The 2018 Nobel Prize in Chemistry went to Frances Arnold together with George Smith and Gregory Winter for developing major breakthroughs that are collectively called "directed evolution." One of its uses is to improve protein functions, making them better catalysts in biofuel production. Another use is entirely outside chemistry – outside even the traditional life sciences. That might sound surprising, but many research findings have very broad implications.
Karim DamjiIn ancient times, a castle was the home base of defense for the kingdom it ruled. The approach to the castle was not easily accessible. It was defended by one or more deep moats that deterred enemies and reinforced a stronghold capable of withstanding any number of competitive sieges. Fast forward six or seven centuries, and the concept of defensible moats now also applies to corporations. As noted investor Warren Buffet said, "In business, I look for economic castles protected by unbreachable moats."
Artificial intelligence, extended reality and blockchain are some of the most talked about emerging digital technologies. While not typically associated with the healthcare industry, these technologies are having a big impact on the supply chain of pharmaceutical products. To meet the expectations of today's patients, supply chains need to be smart, connected and agile so they provide an efficient and personalised patient experience. Companies that don't implement digital technologies put themselves at risk of being unable to do the one thing that matters most: better serve their patients. The Therapeutic Goods Administration recently said logistical difficulties, recalls, manufacturing issues and unexpected increases in demand were the main causes of shortages between January and August this year, highlighting the need for global companies operating in Australia to rethink how they can make their supply chains more efficient.