Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. The life sciences industry is right to be optimistic about the potential of generative AI. Biotech startups are already testing AI-generated drugs in clinical trials with human patients. Researchers have estimated that AI-powered drug discovery could drive as much as $50 billion in economic value over the next decade.

Artificial intelligence (AI) continued to stay in the news with several high-profile deals this year, as the pharmaceutical industry readily took to adopting AI models to improve drug discovery. But as the field grows in leaps and bounds, many authorities have prioritised the release of new guidelines, frameworks, and regulations to keep pace with these advances. AI applications such as ChatGPT, an Open AI chatbot that understands human speech and produces in-depth writing, have taken the world by storm and expanded the possibilities of using AI. Across all sectors, AI applications are being used to increase efficiency and reduce costs. This is true not only in the case of the general public using applications for creating images or text, but also for pharma companies to improve drug discovery, clinical trial recruitment, and finding new biomarkers.

AlphaFold, DeepMind's protein structure program, is impressive because it reveals so much fundamental information about living organisms. Proteins are the building blocks of life, after all, and as such they are essential to life and to the development of medicines. Proteins can be drug targets, and they can themselves be drugs. In either case, it is important to know the intricate ways in which they fold into various shapes. Their coils, floppy bits, hidden pockets and sticky patches can control, for example, when a signal is sent between cells or if a process is turned on or off.

The Digital era has been a boon to the industry. But pharma manufacturers deal with increasingly complex challenges in this digital era. Pharma manufacturers need a holistic approach to increase quality, safety, transparency, agility, and productivity. Pharma 4.0TM, a term coined by ISPE (International Society for Pharmaceutical Engineering) is a concept adopted from Industry 4.0. The concept aims to bring in an interactive system, analytical data, advanced automation, and a simplified regulatory framework.

The pharmaceutical industry is not only starting to take notice of artificial intelligence (AI), but many companies have started to future-proof their approaches to keep their competitive edge. Using GlobalData's Thematic Research ecosystem, we look at which companies are leading the field in AI. First, some background: one feature of the ecosystem is the Thematic Scorecard, which evaluates companies on how equipped they are in a certain theme, such as AI, over the next two-to-three years. This is based on their current AI activity and investment. Companies can garner a score between 1–5, with the score of 5 denoting a high AI commitment from the company.

Artificial intelligence and other advanced analytical tools are increasingly popular with pharma firms and their research partners. Such technology can be useful for sorting through tall mountains of data to determine which candidates might offer hope to patients in need of a novel treatment for their particular condition. However, an AI-based approach might miss the mark by leaving out a human touch. David Harel, CEO and co-founder of Cytoreason, spoke with Outsourcing-Pharma about what tasks AI is best suited for, where it might fall short, and how to refine your approach toward drug discovery. OSP: Looking back on news OSP has shared about CytoReason, you've had an interesting few months.

By 2023, the pharmaceutical industry is projected to increase up to $1.5 trillion dollars. Throughout the past years, there has been huge growth within the Pharma industry that will continue into 2022. Artificial Intelligence (AI) is becoming a universal term in many industries today. AI uses learned machine intelligence to perform tasks and make predictions. AI within the pharma industry has many purposes that can accelerate the discovery and development of new drugs.

Mati Gill's exposure to the power of pharma collaboration can't be overstated. During his 11 years as COO of the Global Legal Group, and later, head of government affairs, corporate & international markets at Teva Pharmaceuticals, he was exposed to virtually every aspect of the business. When Teva made a concerted effort to build its corporate innovation strategy to strengthen its development platforms and pipeline, he was an undisputed pick to lead the exercise in support of Teva R&D for the Israeli pharma titan. As he helped make inroads with Israeli's academic and emerging life sciences ecosystems, a promising opportunity began to reveal itself and became the focus of his work: The roles of computational biology and artificial intelligence (AI) in drug discovery and development. Gill found the concept nascent among the next generation of innovators but hampered by the pharmaceutical industry at large.

Robert Langer, the co-founder of Moderna and a lauded MIT professor, said, "We are at the tipping point of the modernization of drug discovery" and that the "Quris platform could be a significant value to pharma companies and the health of society at large." Langer is a member of the scientific advisory board of Quris, which officially launched this week and announced $9 million in seed funding to support its efforts. Nobel laureate Aaron Ciechanover is the chairman of the company's scientific advisory board. Quris, based in Israel and Boston, is an artificial intelligence (AI) company operating in the pharmaceutical space. Its team has developed an AI platform to predict which drug candidates will work most safely and effectively in humans.

The pharma industry is seeing an increase in artificial intelligence (AI) investment across several key metrics, according to an analysis of GlobalData data. AI is gaining an increasing presence across multiple sectors, with top companies completing more AI deals, hiring for more AI roles and mentioning it more frequently in company reports at the start of 2021. GlobalData's thematic approach to sector activity seeks to group key company information on hiring, deals, patents and more by topic to see which companies are best placed to weather the disruptions coming to their industries. These themes, of which AI is one, are best thought of as "any issue that keeps a CEO awake at night", and by tracking them it becomes possible to ascertain which companies are leading the way on specific issues and which are dragging their heels. According to this method, Novartis, GlaxoSmithKline, Merck & Co are classed as dominant players in AI in the sector, with an additional 19 companies classified as leaders.